FPT and a number of electronics retailers are looking to expand their business by entering the pharmaceutical segment. FPT Retail is going for a larger share of the pharmaceutical market At FPT's annual general shareholders’ meeting this morning, Nguyen Bach Diep, chairman of FPT Retail, announced the plan to increase the Long Chau pharmaceutical chain to 400 units by 2022 with an annual average of 100 drugstore openings. Diep also said that Long Chau drugstores have higher average monthly sales than other stores in the market. Specifically, the stores generate $136,000 in sales revenue per month, while Pharmacity makes $11,000, Pharno $18,000, and An Khang $32,000. FPT Group set the 2018 sales target of VND16.020 trillion ($705.7 million), up 22 per cent on-year, with after-tax profit of VND377 billion, up 30 per cent on-year. FPT Retail also registered to list 40 million shares, equivalent to the company’s charter capital of VND400 billion ($17.6 million) at the … [Read more...] about Electronics retailers to heat up pharmaceutical distribution segment
Retail
Vietnam’s foreign retail giants see different tales
Parkson's misfortune goes in contrast to the success of AEON Mall and Lotte Rising size and numbers among shopping malls Increased consumption and consumer demand in recent years made Vietnam a more desirable destination for several international retailers. Notably, Japanese shopping mall developer AEON Mall see big opportunities in the local market and plan to expand its footprint. AEON Mall expected to kick off the construction of AEON Mall Hadong, which is its second mall in Hanoi, in mid-March. According to the plan, the mall covers an area of 150,000 square metres with an investment of more than VND2 trillion ($90.3 million). The mall, which has four floors and a basement, is expected to be put into operation at the end of 2019 to become one of the country’s largest shopping centres. Besides, AEON Mall has recently been green-lighted by the Ho Chi Minh City People’s Committee to expand its first location, AEON Mall Tan Phu Celadon. The larger shopping centre is … [Read more...] about Vietnam’s foreign retail giants see different tales
Traditional grocers lose out to modern retail
Hai Huong, 66, owns a small grocery store in an alley off Huynh Dinh Hai Street in HCM City’s Binh Thanh District. The shop has helped her run her family for the last 20-odd years. Illustrative image But now she plans to close it following a terminal slump and bad losses in recent times. “Business has dropped day after day,” she said. Most of her once-regular customers have switched to convenience stores or mini supermarkets, which are mushrooming in that area. But she admitted their choice was easy to understand because the modern retail stores have a huge range of products, a majority of them of high quality, and routinely offer promotions. “I cannot compete with them,” she said. Thousands of these so-called mom and pop shops in cities and towns around the country face a similar fate as modern retail shops spring up everywhere. According to a recent survey by the Vietnam High Quality Goods Association, traditional grocery shops’ … [Read more...] about Traditional grocers lose out to modern retail
CBRE: Ha Noi to have high supply of retail space this year
Retail space is expected be abundant this year in Ha Noi with a total of 157,000 sq.m coming from eight projects under development, according to the CBRE’s Real Estate Market Outlook in Viet Nam.— Photo zing.vn Retail space is expected be abundant this year in Ha Noi with a total of 157,000 sq.m coming from eight projects under development, according to the CBRE’s Real Estate Market Outlook in Viet Nam. Under the outlook released recently, this is the most new projects ever planned for a single year. Most of these new projects are located in fast developing residential areas with good infrastructure and which are expected to attract retailers and consumers. Despite this new supply causing pressure on the vacancy rate, the average market rent is still expected to remain relatively stable or even to slightly improve, according to CBRE. Malls as a component of residential complexes will continue to thrive, thanks to a high level of supply in the condominium market. … [Read more...] about CBRE: Ha Noi to have high supply of retail space this year
Retail sales, services revenue sees year-on-year rise of 11.05 percent
It was estimated that in the first three months of the year, total revenue of retail sale and service reached VND254,491 billion, finishing 24.7 percent of the plan for 2018, a year-on year rise of 11.05 percent. Of which, retail turnover wass estimated VND165.429 billion, an increase of 10,97 percent compared to the same period last year. As per the Department’s forecast, by the first quarter, the growth speed of retail sale and services revenue will achieve 11.5 percent – 12 percent, partly thanks to state employees’ higher salary according to the Prime Minister’ decision which takes effect on July 1, 2018. Moreover, there has been a rise in wage of retirees and social welfare allowance. The Department said there has been positive sign in the field of exports. Revenue of exports in HCMC in the first three months amounted to $8.83 billion, a hike of 10.56 percent including rude … [Read more...] about Retail sales, services revenue sees year-on-year rise of 11.05 percent