Edgar Bonte, the CEO of Auchan Retail, recently told French newspaper les Echos that his company has decided to sell all of its 18 stores in Viet Nam. — Photo langvietonline.vn Edgar Bonte, the CEO of Auchan Retail, recently told French newspaper les Echos that his company has decided to sell all of its 18 stores in Viet Nam. The supermarket chain, present in Viet Nam for four years, is expected to be bought by a domestic retail group this week. Bonte said it generated revenues of 45 million euros (US$50.4 million) last year but made losses. He did not disclose the latter figure. Auchan is the last remaining western retailer in Viet Nam after French multinational retail chain Groupe Casino withdrew in 2016. Others to exit, due to various reasons but mainly because of losses, include Germany’s Metro Cash & Carry. In 2014 it sold its business in Viet Nam to Thailand’s Berli Jucker Corporation for 655 million euros (approximately US$879 million). The Thai company … [Read more...] about Survival of the fittest in Viet Nam’s retail market
Metro retail stores group
The Hanoitimes - The Vietnamese retail market would hardly attract more European retail groups in the mass segment due to the harsh competition. France retailer Auchan’s exit from Vietnam draws interest from potential buyers Japan's retailer AEON to help Vietnam export US$500 million in goods by 2020 South Korea and Japan retailers post contrasting business results in Vietnam Retailers change ambitious expansion plans amidst stiff competition Large Western retailers namely Metro, BigC, Auchan have left Vietnam due to inappropriate business strategy, fierce competition with local and regional peers and the rapid growth of e-commerce, Ho Chi Minh City Law newspaper reported. French Auchan Retail sold its loss-making business in Vietnam after five years of operation. The withdrawal of France’s Auchan Auchan Retail CEO Edgar Bonte announced that the group had decided to sell its 18 supermarkets in Vietnam after five years of operation due to tough … [Read more...] about Why Western retailers say goodbye to Vietnam?
The Hanoitimes - In the race to gain market share in retail space, many people are worried about the inferiority of domestic investors before the progress of big players from Japan and Thailand. IKEA to buid US$450-million retail center in Hanoi What 2019 will hold to Vietnam’s retail landscape? Competition intensifies in Vietnam’s retail market World major brands flock to Vietnam retail market Hanoi retail market sees slightly increasing rent in Q3/2018: C&W The market penetration race Total retail sales of goods and consumer services in 2018 increased by 12.2% compared to 2017. In fact, the Vietnamese retail market is on the rise with great attraction for foreign businesses. A series of famous retailers from Japan, Thailand, South Korea and France have rushed into Vietnam to compete for market share. Foreign retailers are gaining footing in Vietnam. In particular, it is worthy mentioning important milestones in the Vietnamese market for … [Read more...] about Vietnam’s retail space market: Foreigners vie for bigger slice of cake
The Hanoitimes - With strong investment in acquiring retail businesses, this market is forecast to be more and more competitive, and the game seems to be only for big players. Vietnam retail industry is considered to be continued attracting domestic and foreign investors. Vietnam’s retail industry is expected to see fiercer competition as more domestic and foreign players seek to increase their foothold in the nearly-100-million market. Illustrative photo According to the General Statistical Office, wholesale and retail in Vietnam accounts for more than 14% of the country's GDP. Retail is among the six industries attracting the largest foreign investment. Vietnam is also assessed by Nielsen as a potential retail market. BMI estimated that by 2017, Vietnam's market value of goods consumption was about US$120 billion, annual growth rate was nearly 10% in the period of 2012 - 2017. The country’s economy is one of the fastest developing commodity markets among the … [Read more...] about What 2019 will hold to Vietnam’s retail landscape?
Starting as a small cooperative with its first supermarket in the down town of Ho Chi Minh City, Saigon Co.op has gone on to become one of leading retail brands in Vietnam. After 20 plus years, the brand has 100 supermarkets, three hypermarkets, three trade centers and more than 450 Co.op Food and Co.op Smile outlets. In 2017, Saigon Co.op had sales of nearly VND30 trillion ($1.29 billion), up 7 percent against 2016. "To further expand our business, the company will also increase the number of hypermarkets. There will also be a chain of high-end shops selling carefully selected products," said Do Quoc Huy, marketing director of Saigon Co.op. Another big domestic name is Vingroup. In the first nine months of 2018, the group's retail sales reaped revenues of VND4.73 trillion (around $203 million), accounting for 20 percent of its total revenues. In 2017, Vingroup's retail revenues reached nearly VND14 trillion ($600 million). With the aim of having its retail business bring in 50 … [Read more...] about Domestic retailers’ revenue up, foreign firms accumulate losses in Vietnam