Vingroup will widen its retail system by taking over Queenland Mart After the acquisitions, from September 1, Queenland Mart membership cards will be transferred to VinID, the customer care programme of Vingroup. The Queenland Mart supermarket chain was established in 2014 under Vietnam Lotus Foods JSC to operate mainly in retail and the supermarket segment. Vinmart and Vinmart + are operated by VinCommerce. VinMart was formerly OceanMart supermarket chain. Vingroup then developed it by opening new stores and launching the VinMart+ convenience store system, as well as acquiring the FiviMart supermarket chain and the Shop & Go convenience store chain. Vingroup to acquire Shop & Go grocery store chain for $1 Vingroup and its VND-trillion M&A transactions Vinmart takes over Fivimart As of June 30, 2019, VinCommerce operated a system of 113 VinMart supermarkets and more than 1,900 Vinmart+ stores in 60 out of 63 provinces and cities. Entering the retail market quite late, the development strategy of Queenland Mart is quite clear as the chain focused on urban areas, high-end residential buildings, mainly located in District 7 and District 2 in Ho Chi Minh City. The premises of Queenland Mart are therefore expensive. However, with fierce competition in the… Read full this story
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