Last update: 08:00 | 10/08/2018
The retail market is witnessing the strong rise of private investors
Another VinMart with modern design was inaugurated at Landmark 81, the tallest building in Vietnam in late July.
Located on B1 floor in Vinhomes Central Park in HCMC, VinMart Landmark 81, with total area of over 4,500 square meters, is the largest VinMart in the south.
Besides VinMart Landmark 81, Vingroup, the owner, also has set up seven convenience stores VinMart+ on the first floor of the tower.
To date, Vingroup has 71 supermarkets and 1,300 convenience stores in the country, though it is considered a newcomer in the market compared with other veteran retail chains.
If counting Vingroup’s deal of purchasing GM Vietnam to trade Chevrolet cars, Vingroup has become the only private group that owns such a large retail chain which distributes a wide range of products, from eggs to boxes of milk and cars.
The Gioi Di Dong (Mobile World), after gaining brilliant success in distributing smartphone products, has jumped into other business fields, including food and medicine retail.
Meanwhile, The Gioi Di Dong (Mobile World), after gaining brilliant success in distributing smartphone products, has jumped into other business fields, including food and medicine retail.
By the end of 2017, The Gioi Di Dong had 1,000 phone retail points, 642 Dien May Xanh shops, specializing in retailing home appliances, and more than 280 Bach Hoa Xanh shops. It also owns 14 Phuc An Khang drugstores.
Prior to that, it took over Tran Anh, a home appliance and digital device distributor, officially setting foot in Hanoi market.
FPT Retail, established as a computer and digital device retailer, has expanded its business into medicine retail through investment in Long Chau drugstore chain. The distributor is following an ambitious plan of opening 400 Long Chau drugstores in the next two years.
By the end of the second quarter of 2018, it had 516 stores, including 43 newly opened stores.
As the Vietnamese retail market has boomed, the supply of unoccupied retail premises have become more scarce.
The representatives of large retail chains which have branches throughout the country all said it is difficult to find retail premises in advantageous positions.
The short supply is expected to become even more serious in the future because large retail chains, including foreign ones such as Circle K, Family Mart and B’s mart, have been expanding.
More than one year ago, a 4m x 14m retail space rented for VND45 million a month, but it is VND90 million now.
In its recent report, ACB Securities estimated that the retail industry makes up 75 percent of Vietnam’s GDP.