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Tag: Vingroup

  • Vietnam’s Vingroup snaps up local grocery chain

    Vietnam’s Vingroup snaps up local grocery chain

    Vietnam’s largest retail group has snapped up local supermarket chain Maximark.

    Vingroup, whose assets already include 12 Vincom shopping centres with a raft of its own retail brands inside, and 125 VinMart grocery stores, will rebrand the nine Maximark hypermarkets under the VinMart+ name.

    “The acquisition aims at expanding Vingroup’s retail network reinforcing the status of Vietnamese brands to create a counterweight to international brands that are coming into Vietnam,” Vingroup said in a statement.

    The seller is Hanoi-based An Phong JSC which developed the chain from scratch.

    “The nationwide expansion will assist the spread of Vietnamese product brands and help retain their market share, contributing to building the competitiveness of local manufacturers amid an influx of global companies into Vietnam,” Vingroup’s vice chairman Le Khac Hiep said.

    Vingroup plans to operate 40 shopping centres across the nation by the end of 2016 and 100 by 2020.

    In June, Vingroup Retail received a US$100 million private equity capital investment led by Warburg Pincus, to help fund its ambitious retail expansion plans.

    Vingroup Joint Stock Company is Vietnam’s largest publicly-traded real estate operator and one of its largest companies by market capitalisation.

    The Vincom Retail malls are home to more than 700 domestic and international brands, with major tenants such as Robins Department Store, Marks & Spencer, CJ CGV, Mango, DKNY, French Connection, BCBGMaxazria, Karen Millen, GAP, Lacoste, Nike, Adidas, Emigo, VinMart, VinPro and Vinpearl Land.

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  • Vingroup plans hybrid retailer community

    Vingroup plans hybrid retailer community

    Vietnam property developer Vingroup is constant to increase its retail enterprise, saying a 300-strong community of hybrid shops.

    The shops will take up giant footprints, initially within the firm’s fast-growing community of buying malls – cut up into 4 totally different manufacturers: BeautyZone promoting healthcare and cosmetics, ShoeCenter, Sportsworld and Trend Megastore.

    Vingroup has already expanded into the comfort sector with VinMart and can also be creating an electronics retail chain. Its transfer into the hybrid retailer format is a measure to determine an area beachhead towards the rising tide of worldwide retail ideas eyeing the rising organised retail market in Vietnam.

    The primary retailer will open in Can Tho, a big metropolis south of Ho Chi Minh Metropolis, in July. Vingroup says it hopes to have 74 shops buying and selling inside a yr and 300 inside three years.

    The shops, developed by Vingroup subsidiary VinDS Buying and selling and Providers, will inventory internationally recognized manufacturers and, within the case of the ShoeCenter, its personal vary, branded Prime Toe.

    “These codecs sign a brand new course for our group, an entire product providing vacation spot via our ideas for the shoppers to take part, to take pleasure in true worth and train decisions,” stated Munish Rishi, VinDS CEO.

    “VinDS retail shops shall be smarter, quicker and revolutionary retail codecs constructed upon partnerships with worldwide, regional and most significantly, profitable Vietnamese manufacturers that may really relate to Vietnamese hearts.”

    The ShoeCenter will occupy a 600-1000 sqm footprint stocking some 25 manufacturers for males, ladies and youngsters, sourced internationally and regionally. Vingroup expects it to turn into the nation’s largest shoe retailer.

    BeautyZone will inventory cosmetics, healthcare merchandise, make-up and pores and skin and bodycare merchandise in a format which appears more likely to problem Dairy Farm Worldwide Group’s Guardian chain, which has been rising steadily in Ho Chi Minh Metropolis over the past three years. Vingroup’s chain will give attention to mid to excessive finish manufacturers, together with L’Occitane, Clarins, Kanebo, Laneige, Yves Rocher and Vichy.

    The Sportsworld community will inventory adidas, Nike and Aero Sport merchandise, amongst others, starting from footwear, jogging gear, sportswear and informal style to equipment and health gear.

    The Trend Megastore would be the largest of the shops, starting from 2500-5000 sqm and inventory each native and worldwide attire manufacturers.

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  • Vingroup buys VinatexMart chain

    Vingroup buys VinatexMart chain

    The Vinmart Supermarket Joint Stock Company of Vietnam’s leading property firm Vingroup has signed a contract to buy a 100 percent stake in the VinatexMart supermarket chain.

    VinatexMart, one arm of the State-run Vietnam National Textile and Garment Group (Vinatex), has 58 outlets in 26 provinces and cities nationwide.

    Its supermarkets stock 60,000 items from five main categories of goods such as garments and textiles, fresh food, cosmetics and home appliances.

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  • Vietnam’s Vingroup announces new retail venture in electronics

    Vietnam’s Vingroup announces new retail venture in electronics

    A Vingroup official announced the establishment of the firm’s new technology and electronics retail brand on Wednesday called VinPro.

    A group representative said opening the chain was part of the group’s strategy to become a leading retail brand in Vietnam, adding that it will open four VinPro stores in Hanoi and HCM City on 21 March.

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