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Retail Asia11/08/2021

The delay in vaccinating workers in the retail and logistics sectors is causing disruptions in the supply chain, a key player in the Covid-19 fight. Earlier this month, nearly 40 VinMart and VinMart+ outlets had been closed for several days due to Covid-19 linkage, which urged its operator Masan to once again request the government […]

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Retail Asia20/05/2021

A consortium led by Chinese e-commerce giant Alibaba will invest $400 million in the subsidiary of conglomerate Masan Group that operates retail chain VinMart. The consortium, including Baring Private Equity Asia, one of the largest private equity firms in Asia, has signed an agreement to acquire a 5.5 percent stake in The CrownX, a deal […]

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Retail Asia02/04/2021

A year after conglomerate Masan Group acquired it from Vingroup, the VinMart retail chain is set to become WinMart. The rebranding would take place after the restructuring of the retail chain is complete, Truong Cong Thang, CEO of The CrownX, a subsidiary that operates VinMart, said at the Masan annual general meeting Thursday. The CrownX […]

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Retail Asia13/11/2020

Conglomerate Masan Group will invest VND5 trillion ($215.7 million) in the subsidiary that controls its VinMart retail chain to help expand it. The investment would quadruple the charter capital of The Sherpa to VND6.5 trillion, it said in a statement. Through the company, Masan indirectly owns 71 percent of VinCommerce, which operates VinMart+ convenience stores […]

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Retail Asia05/11/2020

Masan has closed 421 VinMart+ convenience stores and 12 VinMart supermarkets this year as it restructures the retail business it acquired this year from Vingroup. Most of the closed stores were in Ho Chi Minh City. The closure has resulted in a cut in losses for its VinCommerce subsidiary, with the earnings before interest, taxes, […]

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Retail Asia16/01/2020

Vietnam consumer-goods company Masan Group says it plans to shut down hundreds of VinMart and VinMart+ stores it purchased from VinGroup last year. The company said they will open 10-30 new Vinmart supermarkets and close 100-300 Vinmart+ stores this year to focus on improving profitability of existing locations instead of following the program of massive […]

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Retail Asia14/06/2019

Vietnamese supermarket chain VinMart claims to have opened Vietnam’s first virtual store. Run by VinGroup’s subsidiary VinCommerce, the new concept is being tested in 20 locations, including apartments, office buildings, schools and at bus stops, both in Hanoi and Ho Chi Minh City. Each store provides images and QR codes of more than 100 product […]

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Retail Asia08/11/2018

Vietnam’s biggest private conglomerate Vingroup has officially confirmed its acquisition of major tech products retailer Vien Thong A. In its financial statement for the third quarter of 2018, Vingroup lists Vien Thong A Import Export Trading Production Corporation as a fully-owned subsidiary. On September 14, Mai Thu Thuy, board member of the Vincom Retail Joint […]

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Retail Asia30/07/2018

Vingroup has opened its 55th shopping centre, The Vincom Center Landmark 81 mall, in Ho Chi Minh City’s Binh Thanh district. The 50,000sqm shopping centre occupies six of the skyscraper’s 81 storeys, housing 100 domestic and international brands in cosmetics, fashion, F&B, and entertainment. Fashion brands include Versace Jeans, Calvin Klein, Adidas, Tommy Hilfiger, Lacoste, […]

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Retail Asia12/01/2018

Spurred by a rising middle class and influx of international retailers, Vietnam retail sales hit a record US$129.6 billion last year. This was growth of 10.9 per cent over 2016, according to the Vietnam General Statistics Office (GSO). Vietnam’s largest real estate company, Vingroup, starting expanding its Vinmart Plus convenience store chain in 2016 and […]

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Retail Asia16/12/2016

Convenience-store giant 7-Eleven plans to enter Vietnam by taking over VinGroup’s VinMart+ chain, marketplace sources say. In a statement from the US last year, 7-Eleven said it would build stores as well as convert “existing locations”. Now industry insiders are saying the group will swallow VinMart+, but there has been silence from both brands. The […]

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Retail Asia20/09/2016

Miniso has been mentioned repeatedly in local newspapers. The retailer has announced its official presence in Vietnam through a franchise contract signed with Le Bao Minh Group. Le Bao Minh’s representative said it plans to open 13 shops in large cities in 2016. Miniso’s official website shows that the company was established by a Japanese […]

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Retail Asia06/08/2016

Vietnamese supermarket chain VinMart has tripled its revenue in the second quarter of this year. Parent VinGroup says the group achieved VND2,465 billion (US$110.6 million) in sales of its supermarkets and convenience stores, a 226 per cent increase compared to the same period last year. One of the reasons for VinMart’s growth is the group’s […]

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Retail Asia25/07/2016

Vietnam retail is on the brink of a convenience store boom as multinationals muscle up against fast-expanding local players. The increasing pace of life in urban Vietnamese cities is fuelling demand for convenience stores which, until three to four years ago, seemed few and far between on the streets of Ho Chi Minh City and […]

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Retail Asia16/05/2016

Retail has proved the shining segment for Vietnamese conglomerate Vingroup, with revenue jumping 363 per cent year-on-year to VND2.19 trillion (US$98.3 million) for the first quarter. Vingroup has been investing in retail properties for more than a decade, and since announcing two years ago that it aims to become Vietnam’s largest retailer has opened 50 […]

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Retail Asia06/11/2015

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 […]

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