Retail News CRM

Tag: Saigon Co-Op

  • Cheers convenience store set expansion plan in Vietnam

    Cheers convenience store set expansion plan in Vietnam

    Singapore-Vietnam convenience store joint venture Cheers has opened its third store, on Dinh Tien Hoang Street in downtown Ho Chi Minh City.

    Operated by Vietnam’s supermarket operator Saigon Co-op and Singapore’s NTUC FairPrice grocery network, Cheers is open 24 hours, selling fast-moving consumer goods, mostly imported, along with payment services for utilities. The stores offer dine-in areas with free wifi.

    Nguyen Anh Duc, deputy general director of Saigon Co-op, said Cheers’ links with his company’s other businesses,including Co-opmart, Co-op Food and Co-opXtra, allows customers to earn and spend loyalty points across the network.

    The first Cheers store opened on Hoa Hao Street, in District 10, last December. The partnership plans to have 50 stores trading in Vietnam by the end of this year.

    Saigon Co-op also partnered with NTUC FairPrice in its Co-opXtra hypermarket stores.

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  • New shopping center opened in Ho Chi Minh City

    New shopping center opened in Ho Chi Minh City

    Vietnam’s newest shopping centre, Van Hanh Mall, has opened in Ho Chi Minh City, on Su Van Hanh Street in District 10.

    Built on a 90,000sqm site, the shopping complex has 55,000sqm of retail space, which is 90 per cent occupied already, by more than 200 international and local brands.

    Tenants include Bata, Charles & Keith, Levi’s, Mujosh and Nike and a raft of dining options, including Buffalo Wild Wings, Crystal Jade, Sushi Kei, Starbucks and Phuc Long coffee.

    For entertainment, there is a CGV multiplex cinema, a Superbowl amusement center and a giant European-themed bookstore.

    A Co.opXtra hypermarket, operated by Saigon Co.op and Singapore’s NTUC FairPrice, also opened, marking the brand’s third outlet in the city.

    There are nine parking floors from basement to fifth floor, enough space for 350 cars and 3000 bikes.

    Built at the cost of VND1 trillion (US$43.9 million), Van Hanh mall rentals range from US$30-60 per sqm.

  • Vietnam grocer Saigon Co.op plans nearly 600 new stores

    Vietnam grocer Saigon Co.op plans nearly 600 new stores

    Vietnam grocer Saigon Co.op has revealed an ambitious store rollout program for 2017, adding nearly 600 stores by the year’s end.

    The company will open 500 convenience stores, most of them in Ho Chi Minh City and the southern provinces of Vietnam.

    It will also open 10 Co.op supermarkets, one Co.op Xtra hypermarket, one Sense City mall and 65 Co.op Food stores.

    Saigon Co.op cashier

    The company also appears to be broadening its focus to serve middle-class and high-earning consumers with plans to strengthen its organic product distribution. Chairman Diep Dung said the retailer will improve the quality of its goods and boost customer service.

    The expansion is expected to add 13 per cent sales growth for Co.op this year.

    Last year, Saigon Co.op opened 42 new Co.opmart supermarkets, Co.op Food stores, Sense City and Co.opSmile convenience stores. As a result, the retailer saw 11 per cent growth in revenue.

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  • Another Vietnam asset for Mapletree Investments

    Another Vietnam asset for Mapletree Investments

    Singaporean real-estate investment firm Mapletree Investments has acquired Kumho Asiana Plaza Saigon, a mixed-use complex in Ho Chi Minh City’s CBD, taking its total assets under management in Vietnam to more than US$1 billion.

    As well as a supermarket, the plaza has mainly restaurants and is anchored by Hard Rock Cafe and Starbucks. It also has Grade A offices, serviced apartments and a hotel managed by InterContinental Hotels Group (IHG). It is Mapletree’s largest acquisition in Vietnam involving a completed income-producing property.

    Korean media outlets say that South Korea’s second-largest flag carrier, Asiana Airlines, and Kumho Industrial, the two joint-venture partners of the complex, have sold off their interest for US$215 million in a bid to improve their financial health.

    “Kumho Asiana Plaza is a rare asset given its attributes such as size, strong occupancy and location,” says Mapletree CEO Hiew Yoon Khong.

    He says the group will continue to seek similar investment opportunities in Ho Chi Minh City and Hanoi.

    Mapletree entered Vietnam in 2005, and most of its projects are developed within central business districts as well as four logistics parks across the country.

    One of its main current developments is Saigon South Place, a mixed-use project in Ho Chi Minh City that will comprise Grade A office towers, serviced apartment and residential buildings, as well as the current shopping centre SC VivoCity, which Mapletree jointly developed with Vietnam retailer Saigon Co.op.

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  • Vietnam a rising Asian retail market

    Vietnam a rising Asian retail market

    VN a rising Asian retail market

    Viet Nam is on the way to becoming one of the most developed retail markets in Asia, a seminar heard yesterday in Ha Noi.

    The Viet Nam Retailers Association (VRA) organised the Viet Nam Retail Forum 2015 with the theme of “Shopping centres and their development roadmap in Viet Nam”. The event brought together officials, retail experts, domestic retailers as well as foreign retail firms.

    According to Duong Duy Hung, Deputy Director General of the Ministry of Industry and Trade (MOIT)’s Domestic Market Department, total final consumption expenditure accounted for 70 per cent of Viet Nam’s gross domestic product (GDP), of which 90 per cent is household consumption expenditure.

    Hung added that the modern retail market is increasing its role as an engine of Viet Nam’s retail sector’s growth.

    Before Viet Nam joined the World Trade Organisation (WTO), there had been concerns that the models of traditional and modern retail channels could collapse due to the open-door policies facilitating multinational retail corporations, Hung said.

    But Viet Nam retail businesses have adapted step by step, enhancing competitiveness to survive, Hung said.

    However, domestic retailers are also facing difficulties. Foreign retail giants have poured money into trade centres and supermarkets, worrying domestic retailers, Hung added.

    VRA chairwoman Dinh Thi My Loan said Vietnamese supermarket and retail shop chains had been upgraded, but they still lacked professional factors, competitiveness in pricing, diversification in products and product quality control.

    According to the Nielsen market research firm, the middle and affluent class (MAC) in Viet Nam, whose income is from VND15 million (US$714) and above a month, will triple in size between now and 2020 and will be a key group of potential customers for retailers.

    According to a report by property services firm CB Richard Ellis (CBRE), Co.opmart supermarket chain owned by Saigon Co.op was named one of top 200 Asia-Pacific retailers in 2015.

    However, in the Viet Nam’s top 10 retailer 2015 list, the leading position belongs to Saigon Jewellery SJC, followed by Nguyen Kim electronic store chains and the national mobile phone retail giant The Gioi Di Dong (Mobile World).

    This report also showed that the overall vacancy of Ha Noi’s retail space saw the highest rate in the past five years (up to 20 per cent) while this rate for HCM City has been relatively low, just under 10 per cent. This directly affects average rent in the two cities.

    As a result, average rent in Ha Noi has reduced while the figure for HCM City has increased. The rent in the central areas of Ha Noi and HCM City are very high, reportedly amounting to over $120 per sq.m per month in the third quarter of 2015, three times higher than other areas in the cities.

    The report also said that 22 per cent of Vietnamese prefer to go shopping in convenience stores rather than in big shopping malls. — VNS

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  • Singapore’s Wilmar invests $13mn to leverage Vietnam’s leading sauce brand

    Singapore’s Wilmar invests $13mn to leverage Vietnam’s leading sauce brand

    Wilmar International has teamed up with leading local retailer Saigon Co-op to form a joint venture for a multimillion-dollar sauce making plant in Vietnam, the Singaporean agribusiness group announced Tuesday.

    Wilmar International holds a 51 percent stake, worth around US$13 million, in the joint venture that will establish the Nam Duong International Foodstuff Corporation to overtake a project to build the $25.6 million sauce factory in Ho Chi Minh City.

    The new facility, to be located in the outlying district of Nha Be, will take over the current operations of an existing Saigon Co-op factory to manufacture sauces and condiments sold under the Nam Duong brand, according to Wilmar.

    The plant’s products will serve both domestic and export markets.

    Established in 1951, Nam Duong is amongst the leading brands for sauces and condiments in Vietnam, which include soy sauce, chilli sauce and tomato sauce.

    These products are also currently being sold in export markets such as the U.S., Canada and Europe and are favored by overseas and Vietnamese consumers.

    Nam Duong International Foodstuff Corporation will leverage Saigon Co-op’s strength in distribution and Wilmar’s experience in manufacturing operations as well as its research and development in food technology and also tap the agribusiness group’s global network for export sales, according to the Singaporean firm.

    “The combination of Saigon Co-op and Wilmar Group’s strengths in the Nam Duong International Foodstuff Corporation joint venture will be a milestone in the Vietnamese consumer market,” Saigon Co-op general director  Nguyen Thanh Nhan said.

    Saigon Co-op boasts the most extensive modern retailing network in Vietnam and has intimate knowledge of Vietnamese consumers’ taste and preferences, whereas Wilmar is experienced in the manufacture and distribution of food products globally, Nhan elaborated.

    The cooperation is also expected to “increase the reach of the Nam Duong brand and grow their sauces and condiments business significantly,” according to Ray Chew, country head of Wilmar’s business operations in Vietnam, Cambodia and Laos.

    Saigon Co-op is well known for its wide and varied distribution channels, including the Co.op Mart supermarket chain, Co.op Food convenience stores, Co.opXtra hypermarkets, Ben Thanh Store, the Co.op Store chain, and the SC VivoCity complex.

    In 2015, Saigon Co-op was conferred Vietnam’s Leading Retailer Award and was listed among the “Top 200 leading retailers in the Asia Pacific” by Retail Asia Publishing and market research group Euromonitor.

    Wilmar International, founded in 1991 and currently Asia’s leading agribusiness group, is ranked among the largest listed companies by market capitalization on the Singapore Exchange.

    Its business activities include palm oil cultivation, oilseed crushing, edible oils refinement, sugar milling and refining, specialty fats, oleochemical, biodiesel and fertilizer manufacturing, and grain processing.

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