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VinMart+ opens 15 convenience stores in Vung Tau

Released at: 14:55, 28/12/2017

VinMart+ opens 15 convenience stores in Vung Tau

Photo: Vingroup

Leading Vietnamese retailer expands network to southern coastal city.

by Hong Nhung

Vingroup recently announced the opening of 15 VinMart+ convenience stores in the southern coastal city of Vung Tau, marking the swift expansion of the VinMart and VinMart+ retail network in Vietnam’s south.

Each VinMart+ store in Vung Tau has an area ranging from 100-300 sq m and all are located on streets with large numbers of residents.

According to VinMart+, all products at the stores have guaranteed origin, quality, and freshness, and each store has thousands of daily items, including household items, spices, processed foods, fresh vegetables, fruit, and meat.

For the first time, customers in the coastal city will have the opportunity to access three brands of VinMart+: VinEco, VinMart Home, and VinMart Cook. To celebrate the openings, VinMart+ will offer discounts of up to 35 per cent, while customers with VinID cards can earn 10 per cent bonus points.

“VinMart+ is a convenient retail model for the community, providing consumers with safe and quality products,” said Ms. Nguyen Thi Hong, CEO of VinMart+.

VinMart+ is expected to continue to expand to more cities around Vietnam, expecting to reach 3,000 stores nationwide next year and affirming its position as the largest retail network in Vietnam.

VinMart and VinMart+ are within the retail network of Vingroup, which owns more than 1,000 supermarkets and convenience stores in many cities and provinces around the country. VinMart and VinMart + were honored this year in Vietnam Report’s Top 10 prestigious retail brands and Brand Finance’s Top 50 most valuable Vietnamese brands.

Convenience stores have been blossoming in Vietnam, with vigorous expansion by local and foreign names. South Korean conglomerate the GS Group, through its subsidiary GS Retail, has recently partnered with Vietnam’s Son Kim Group to open the first GS25 convenience store, in Ho Chi Minh City, in January, with Vietnam being its initial step into overseas markets.

The world’s largest convenience store chain, 7-Eleven, set foot in Vietnam in mid-June, triggering greater competition among retailers.

The attractiveness of Vietnam’s retail market is expected to continue well into the future and is tipped to be the fastest-growing convenience store market in Asia by 2021, according to the latest data from international grocery research organization IGD, followed by the Philippines and Indonesia.

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