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VinCommerce acquires Fivimart

Released at: 09:35, 11/10/2018

VinCommerce acquires Fivimart

Photo: VnEconomy

Fivimart supermarkets to be renamed VinMart.

by Ngoc Lan

VinCommerce, a subsidiary of Vingroup, has officially announced the completing of its acquisition of the entire Fivimart supermarket chain.

With the acquisition of a 100 per cent stake from the Nhat Nam JSC, VinCommerce now owns all 23 supermarkets of Fivimart, which has been in operation for ten years and has good locations in populated areas.

Fivimart will be renamed VinMart. In addition to continuing to sell consumer goods, food, household items, and cosmetics, the supermarkets will focus on the fresh and safe food now available at the VinMart chain as well as a variety of new home brand products such as VinEco agricultural products, VinMart Cook processed food, and VinMart Home household goods.

VinCommerce will also upgrade all VinMart and VinMart+ supermarkets, including facilities, goods, and human resources, and adopt a unified management mechanism. Fivimart’s loyal customers will become part of the VinID loyalty program, with a wide range of incentives across the Vingroup.

Ms. Thai Thi Thanh Hai, General Director of VinCommerce, said that in its development strategy, VinMart and VinMart+ supermarkets will not only be present in all Vinhomes urban areas and Vincom shopping centers around the country but will also be expanded to other residential areas. “The acquisition of Fivimart is a step in realizing our plan,” she added.

Fivimart was established in 2007 and Vinmart was established in November 2014. VinCommerce currently operates 100 VinMart supermarkets and 1,400 Vinmart+ convenience stores around the country. The acquisition is also part of plans to expand the number of Vingroup stores to 200 Vinmart supermarkets and 4,000 Vinmart+ convenience stores by 2020.

VinMart and VinMart+ have been voted as the top two retailers by consumers and the top 10 most prestigious retailers, according to Vietnam Report.

VinCommerce was ranked 19th in the top 50 most valuable brands in Vietnam for two consecutive years - 2016 and 2017 - according to rankings published by Brand Finance.

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