Vietnamese retailers strive to gain strong foothold in domestic market Through merger and acquisition (M&A) activities and the improvement of goods quality and services, Vietnamese retailers are trying to win the support of local customers and compete with foreign rivals. Statistics reveal that Vietnam’s annual revenue from retail sales and services has risen significantly in recent years. Of note, domestic retailers have engaged in various M&A transactions to expand their market shares since the beginning of the year. In late August, VinMart, run by VinCommerce under Vingroup – Vietnam’s leading real estate and retail conglomerate, acquired eight supermarkets of Queenland Mart, raising its total number of supermarkets to 120. Currently, Vingroup owns 2,122 supermarkets and convenience stores. Last April, VinCommerce said it will acquire convenience store chain Shop&Go for 1 billion USD. Saigon Union of Trading Cooperatives (Saigon Co.op) also took over all supermarkets of French company Auchan Retail last June. According to the Ministry of Industry and Trade, domestic retailers make up 84 percent of the market share. Besides, they have expanded their network, meeting the huge demand of locals. Experts said 2019-2020 will witness fierce competition between domestic and foreign retailers, as well as modern and traditional retail… Read full this story
- BUSINESS NEWS HEADLINES MARCH 22
- Confined to our homes, schools closed and small businesses in ruin: Prime Minister to announce tough new restrictions TODAY - so what will an Italy-style lockdown look like in Australia?
- Coachella and Stagecoach festivals are postponed until October over coronavirus fears as organizers scramble to re-book Frank Ocean, Rage Against the Machine, Travis Scott and other artists
- NHS nurse, 23, drowned in river after appearing 'exhausted' on busy A&E shift
- Airtel pays Rs 10,000 crore to govt towards statutory dues; SC rejects Vodafone's proposal
- Singapore Air's 'greatest challenge' prompts cuts affecting 10,000 staff
- Yes Bank writes down Rs 8,415 crore AT-1 bonds
- India inflation likely fell to a three month low in February: Reuters poll
- Microsoft finally reaches goal of one billion devices running Windows 10
- ‘Yes Bank moratorium to be lifted on March 18 at 6 pm’: RBI governor Shaktikanta Das
BUSINESS NEWS OCTOBER 10 have 342 words, post on vietnamnet.vn at October 10, 2019. This is cached page on VietMaz. If you want remove this page, please contact us.