Phu Thai launches new retail brand
By Minh Tam – The Saigon Times Daily
HCMC – Phu Thai Group Joint Stock Company has parted the Japanese retail brand FamilyMart and developed its own brand: B’s mart.
Speaking to the Daily on the sidelines of a meeting announcing the establishment of B’s mart Co. held in HCMC on Thursday, Phan Viet Hung, deputy general director of Phu Thai, said his firm had taken over all the stakes in Vietnam FamilyMart Co. to establish the retail brand B’s mart. However, Hung did not elaborate on the deal.
B’s mart is wholly owned by Phu Thai.
According to Hung, with the deal in place, most of the FamilyMart stores will be renamed as B’s mart while FamilyMart still has one store in the city and continue developing its brand here.
This means FamilyMart does not withdraw from the Vietnamese market as previously rumored but has pulled out of the retail venture with Phu Thai.
Phidsanu Pongwatana, general director of B’s mart Co., said B’s mart planned to open an additional 20 convenience stores in HCMC this year, raising the total to 62. After that, B’s mart would expand to Hanoi, he added.
B’s mart also intends to open supermarkets, hypermarkets, bookstores and drugstores.
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