The presence of global leading companies in Vietnam, including Aeon Mall, Auchan, Lotteria, Starbucks, among others, shows the huge potential and attraction of the country’s retail market, the government portal reported. Multinational companies expand operation Starbucks opened its first shop in Ho Chi Minh city in 2013. Now, five years later, the coffee house chain is operating 34 shops. Lotte Mart, the retail division of South Korean conglomerate Lotte Group, also planned to open 60 stores in Vietnam by 2020, while South Korean leading retailer GS Retail is expected to open 2,500 convenience stores in Vietnam in the next 10 years through its joint-venture GS25 Vietnam. Japan’s Family Mart currently has 130 stores in Vietnam and expected to open 700 more by 2020. Similarly, the US food retailer 7-Eleven made its presence in Vietnam in June 2017 and planned to open 100 stores by 2020 and 1,000 in the next ten years. Recently, e-commerce giant Amazon also … [Read more...] about World major brands flock to Vietnam retail market
Joint venture brand
BMW plans to take control of China joint venture
German luxury carmaker BMW announced Thursday (Oct 11) a plan to take control of its China joint-venture, the first foreign automaker to take advantage of Beijing's new ownership rules for the sector. German carmaker BMW is to take control of its China joint-venture with Brilliance China Automotive AFP/WANG ZHAO BMW will acquire a further 25 per cent stake in the venture with Brilliance China Automotive for €3.6 billion (US$4.2 billion), the company said, bringing its stake to 75 per cent by 2022. Foreign automakers have long been restricted to holding no more than a 50 per cent stake in their China operations, but Beijing decided to relax the ownership caps this year. The reforms are part of Beijing's plan to further open its economy to foreign business, after years of facing pressure from the United States and Europe. But US and European business groups say the reforms have still not gone far enough, and have pushed for further opening. To force the issue, and to hit … [Read more...] about BMW plans to take control of China joint venture
Two ventures at the top of the food chain in Vietnam
It is no secret that Vietnamese love eating out. It is also a fact that nation has achieved renown as one of the best places in the world for street food. Jostling for space in this culinary milieu, and succeeding handsomely, are Kichi-kichi, Gogihouse, SumoBBQ and ThaiExpress. These are no strange names to Vietnamese who love dinning out. They are among most popular grill and hotpot restaurant brands in the country. However, not a lot of restaurant goers are aware that they are established and run by Vietnamese. In 2005, with the help of two friends, Dao The Vinh, an entrepreneur in his early 30s, opened the first Ashima mushroom hotpot restaurant on Phan Dinh Phung Street in Hanoi after falling in love with a local hotspot dish during his trip to the “heaven on Earth” city of Shangrila in Yunnan, China. Ashima succeeded beyond the expectations of its founders, who simply thought they were doing what they loved. In just two years, the number of Ashima restaurants had … [Read more...] about Two ventures at the top of the food chain in Vietnam
Vinfast establishes $60 million joint venture with Aapico Hitech
The joint venture between Vinfast and its Thai partner to manufacture Body in White shows the corporation’s commitment to increase the localisation rate of its products. Vinfast and Thailand's leading auto parts manufacturer will boost the localisation rate of Vietnam's very own car brand On June 11, Vinfast signed a Memorandum of Understanding (MoU) to set up a joint venture with Aapico Hitech Plc., one of Thailand’s leading auto parts manufacturers with a market cap of $400 million, to set up a press shop and assembly operations in Vinfast’s Supplier Park in Haiphong. The purpose of the joint venture is to supply BIW (Body in White) parts for the first two models of Vinfast vehicles—a Sedan and a SUV—to be produced by the third quarter of 2019. Covering an area of 9.1 hectares in Vinfast’s Supplier Park, the project has the total investment of $60 million, with 51 per cent holding of Aapico and 49 per cent of Vinfast. "We … [Read more...] about Vinfast establishes $60 million joint venture with Aapico Hitech
Long fall of Vietnam’s once iconic milk brand
Four months after returning to trade on the stock market, once famous milk brand Hanoimilk once again faces the risk of compulsory delisting for being late with its audited financial reports. Hanoimilk's most popular product, the IZZI milk. Source: vnexpress.vn According to the Hanoi Stock Exchange’s document sent to Hanoi Milk JSC (Hanoimilk, code: HNM) on May 14, the company has been delaying submitting its audited financial reports during the past three years (2015-2017). Last July, the trading of the company shares was suspended for similar reasons. The document also stated that Hanoimilk may be delisted from the stock exchange in accordance with the government’s Decree No.58/2012/ND-CP on detailed regulations and guidelines for the implementation and amending some articles of the Law on Securities. Talking with VIR about the risk of compulsory delisting, Hanoimilk’s representative said: “We are working with the Hanoi Stock Exchange to resolve this … [Read more...] about Long fall of Vietnam’s once iconic milk brand
Brands from past make comeback
At its annual general meeting earlier this year, the An Duong Trade and Investment Joint Stock Company suddenly announced plans to revive the once-popular Co Ba soap. (Photo: plo.vn) HCM City (VNS/VNA) - Many well-known consumer brands of the past are making a comeback in Vietnam, indicating a new-found confidence on the part of local companies to take on multinational rivals. At its annual general meeting earlier this year, the An Duong Trade and Investment Joint Stock Company suddenly announced plans to revive the once-popular Co Ba soap. The company is setting up a production line and distribution channel for the relaunch after a gap of one and a half years. The green soap with the image of a woman with her hair in a bun used to dominate the Vietnamese market and was sold in Cambodia, Laos, Hong Kong and several African nations. It is set to return with its familiar look and fragrance. The revival has caused some consternation because the company is in real estate and not in … [Read more...] about Brands from past make comeback
Franchising takes Vietnamese brands to the world
RedSun ITI has taken its chain of Truly Viet restaurants to Australia under the franchise model.— Photo RedSun ITI RedSun ITI has taken its chain of Truly Viet restaurants to Australia under the franchise model. It has set up a joint venture with an Australian partner to open the first restaurant in Melbourne with a menu that features four popular traditional Vietnamese dishes, goi cuon (fresh spring roll), pho (noodle soup), banh mi (Vietnamese sandwiches), and bun cha (vermicelli with grilled pork and fresh herbs). The company’s deputy director, Le Vu Minh, said the dishes have been tweaked to suit local palates. RedSun ITI has already negotiated with partners in Laos to open a chain of King BBQ restaurants there. Founded in 2008, RedSun ITI now operates several restaurant brands -- King BBQ, King BBQ Buffet, ThaiExpress, Seoul Garden, Khao Lao, Hotpot Story, Sushi Kei, and Capricciosa -- with 140 restaurants nation-wide. It launched its first franchise concept, King … [Read more...] about Franchising takes Vietnamese brands to the world
Phu Thai launches new retail brand
Phu Thai launches new retail brandMinh Tam 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 … [Read more...] about Phu Thai launches new retail brand
Hundred-million dollar projects from the dawn of FDI attraction
Heineken Vietnam BreweryHeineken Vietnam Brewery Limited Company (Heineken Vietnam Brewery), was established on December 9, 1991 by Saigon Trading Group (SATRA) and Asia Pacific Breweries Ltd. (APBL) with the initial registered capital of $305.4 million. It was renamed Heineken Asia Pacific Pte., Ltd. (Heineken Asia Pacific) in 2013.Covering an area of 12.7 hectares in District 12, Ho Chi Minh City, the brewery is one of the most modern facilities of its kind in Southeast Asia. For a number of years, Heineken Vietnam Brewery has been one of the top corporate tax payers and was recognised as one of the most effective businesses in Ho Chi Minh City.Heineken Vietnam Brewery has also created significant employment opportunities, hiring around 1,600 local workers and creating thousands of jobs for suppliers and partners in Vietnam. The company is also active in social activities, human resources development, and leads the way in environmental protection.Apart from the innovative … [Read more...] about Hundred-million dollar projects from the dawn of FDI attraction
Foreign convenience store chains continue rapid expansion despite losses in Vietnam
Nguyen Thu Ha has abandoned traditional markets on her afternoon shopping trips in favor of a more convenient option.Uncomfortable with the crowds and dubious origins of the food, the 35-year-old from Hanoi now prefers to spend her money in the convenience stores that are mushrooming across the city.“The quality in convenience stores is guaranteed, unlike grocery shops and traditional markets,” she said. “That's why I go to them now.”Like Ha, many shoppers are turning to convenience stores, encouraging foreign retailers to expand their presence in the market.The number of convenience stores had increased to over 1,500 as of June 2016, according to market research firm Nielsen Vietnam. Famous foreign brands now occupy 70 percent of the market.In June, Seven & i Holdings, which operates Japan’s biggest convenience store chain 7-Eleven, opened its first outlet in Ho Chi Minh City.Kyodo News quoted a company representative as saying that it plans to open … [Read more...] about Foreign convenience store chains continue rapid expansion despite losses in Vietnam