Retail News CRM

Tag: Crescent Mall

  • H&M Vietnam big expansion in birthday celebration

    H&M Vietnam big expansion in birthday celebration

    H&M Vietnam has opened two new stores, in Ho Chi Minh City and Hanoi.

    The HCMC store is located inside District 7’s Crescent Mall, managed by Savills Vietnam, while the Hanoi store is situated in Vincom Nguyen Chi Thanh.

    Crescent Mall, comprising 45,000sqm of retail space, is one of the city’s earliest international-grade shopping centres and has been trading for about eight years. An extension adding 11,200sqm of retail space, is currently under construction and expected to open late next year, beneath a 25-storey office tower.

    “Crescent Mall is fortunate to be in an area where expansion is still possible,” said Tu Thi Hong An, associate director of commercial leasing at Savills HCMC. “When compared to other areas in Ho Chi Minh, District 7 has been planned and well zoned by Phu My Hung. We hope that H&M will be very happy in this new location.”

    According to Savills, retail turnover in Vietnam last year was US$129 billion, increasing 11 per cent year on year. From now until 2021, the retail market is forecast to grow steadily with the increased demand of leisure (10 per cent per annum), modern grocery (9 per cent) and apparel (6 per cent).

    After entering Vietnam in September last year, H&M Vietnam now has six stores in both Hanoi and HCMC while its rival Zara’s taking time with two outlets, one each in HCMC and Hanoi.

    Another fast-fashion brand, Uniqlo, is planning to expand into Vietnam next year.

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  • H:Connect brings Korean style to Vietnam

    H:Connect brings Korean style to Vietnam

    Korean fast-fashion brand H:Connect has expanded into Vietnam, opening two stores.

    H:Connect Vietnam’s first store opened two weeks ago in Hanoi.

    Now a second store has opened in Crescent Mall in Ho Chi Minh City’s District 7, taking up more than 450sqm. Both shops offer trendy clothing designed in Korea for both men and women.

    Vietnam has long been on the radar of the brand thanks to the huge popularity of Korean wave there, as well as the country’s large Korean expat community.

    Founded in 2006, H:Connect now has stores in China, Hong Kong, Korea, Malaysia, Singapore, and Taiwan.

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  • Sprooki platform to launch in Indonesia

    Sprooki platform to launch in Indonesia

    Shopper-engagement platform Sprooki will launch in Indonesia next month at the 125,000 sqm Supermal Karawaci retail precinct in western Jakarta.

    It will be integrated with the precinct’s touchpoints and mobile apps, allowing retailers to offer customers individualised content such as vouchers, special offers, event alerts and store information.

    Sprooki Michael Gethen and Claire Mula

    Sprooki Michael Gethen and Claire Mula

    Customers will be able to share content on social media including Facebook, which has more than 60 million users in Indonesia. Sprooki is available in both English and Bahasa languages.

    Based in Singapore, Sprooki uses customer location, profile and behaviour data to help retail outlets, shopping malls and department stores engage with their customers via smartphones and other devices.

    Supermal Karawaci is the largest shopping centre in Banten province, west of Jakarta, with more than 1000 stores, three cinemas and the largest Timezone arcade in Southeast Asia – complete with an indoor rollercoaster.

    Sprooki CEO/co-founder Michael Gethen says the deployment will help Supermal Karawaci’s retail tenants improve sales and give the mall unprecedented insight into shopper habits and behaviour.

    Sprooki

    “By implementing the Sprooki platform, our mall will be one of the first shopping precincts in Indonesia to incorporate a data-driven mobile platform to improve shopper experience,” says Supermal Karawaci marketing and leasing GM Pipih Tjandra.

    Sprooki’s mobile platform is already being used by Southeast Asian shopping malls such as a Lend Lease’s 313@Somserset in Singapore and Crescent Mall in Ho Chi Minh City, Vietnam, as well as thousands of retailers and major brands such as Coffee Bean and Tea Leaf, Forever 21, Gap, GNC, Marks & Spencer and Pie Face.

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  • Parkson Vietnam shutters store

    Parkson Vietnam shutters store

    Parkson Vietnam has closed another of its stores as it continues to struggle to make its business profitable.

    The Malaysian department store operator has closed the 19,000 sqm District 7 outlet in Ho Chi Minh City, a multi-story department store beneath a commercial tower.

    The store opened in April 2011 after the company invested US$5 million in a new fitout of a small shopping mall bought from Kim Cuong Company.  But the store has never attracted sufficient customers to make it viable, despite a cinema on the top floor. The building is two blocks from the giant Crescent Mall shopping centre which opened in late 2011 in the largely expat-populated suburb some 20 minutes drive from downtown Ho Chi Minh City.

    The mall reportedly closed on Monday.

    Parkson did not give local news media an explanation for the decision – or why it persevered with the site for five years before pulling the plug. But the company did say the closure would not affect the other eight stores in its network, five of which are in Ho Chi Minh City.

    In January last year, Parkson closed another store opened in 2011, Hanoi’s Keangnam Hanoi Landmark Tower. That followed a dispute with the building’s owners over rent which Parkson said was set at a level sales could not sustain.

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  • Retail building oversupply reaches alarming level in HCM City

    Retail building oversupply reaches alarming level in HCM City

    A Cushman & Wakefield’s report shows that the retail rent in the second quarter fell by 5 percent compared with the same period last year. Meanwhile, the supply is forecast to soar to 1.5 million square meters by 2020, 200 percent higher than today.

    According to Savills Vietnam, the total retail premises area which has been put into operation by August, had reached 940,000 square meters. It is expected that the market would have an additional 200,000 square meters from 10 projects.

    In the eastern part of HCM City, which is considered the ‘hottest spot’, at least 300,000 square meters of trading floor – a basement of apartment blocks – would become operational in 2015-2018.

    The retail supply boom in the eastern part of the city is attributed to the city’s policy on increasing infrastructure investment in the area. However, the existing shopping malls in the area remain poorly patronized.

    Viet An Hoa’s CEO Tran Khanh Quang warned that 300,000 square meters of retail premises was too high and may lead to an oversupply.

    The retail premises area in the southern part of HCM City has also been increasing. According to Savills Vietnam, there are about 151,000 square meters of modern retail premises under exploitation, including 60,000 square meters, or 40 percent, in Phu My Hung new urban area.

    It is expected that 80,000 more square meters of retail premises will hit the market by 2016.

    SC Vivo City (41,000 square meters), Crescent Mall (45,000) and Parkson Paragon (12,800) are the three largest shopping malls in the southern area of the city. But they are not crowded on week days.

    “The retail premises are in oversupply,” said Nguyen Van Duc, Deputy Director of Dat Lanh Real Estate.

    “Even the shopping malls in advantageous areas are deserted these days,” he said, adding that investors should not ‘be overly excited with retail building projects’.

    He went on to say that it was a ‘blunder’ for project developers to set up shopping areas in the basement of buildings.

    The shopping malls at apartment buildings, together with separate shopping malls above ground, will lead to an oversupply of retail premises.

    However, Le Thi Kim Hoa from Cushman & Wakefield is optimistic about the market, saying that the supply would force rental prices of retail premises down, which will benefit customers.

    Savills Vietnam’s Nguyen Thi Van Khanh noted that, compared with Bangkok, which has 8 million square meters of retail premises, and Singapore with 4 million, the retail premises total area of less than 1 million was ‘modest’.

     

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  • Marks & Spencer Vietnam opens second store

    Marks & Spencer Vietnam opens second store

    UK-based department store retailer Marks & Spencer has opened a second store in Vietnam’s largest city, Ho Chi Minh.

    Marks & Spencer Vietnam plans to have 20 stores trading in the country by 2020, focused on selling womenswear and menswear.

    The new store is at Crescent Mall in Ho Chi Minh City’s District 7, a four year old mall which also hosts a newly opened Robins Department store.

    It is operated by Marks & Spencer’s long-term franchise partner, Thailand-based Central Retail Corporation, a member of Central Group, which also owns Robins.

    The first Marks & Spencer Vietnam store opened in a 1200 sqm space in the Vincom Center in downtown Ho Chi Minh City last year, the site previously occupied by UK rival Debenhams.

    M&S now has over 800 stores in the UK and more than 460 international stores across 56 markets in Europe, the Middle East and Asia.

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