International, domestic retailers plan market expansion
Several international and domestic retail firms are actively adjusting their operations in a bid to expand their market shares, according to experts at CBRE Vietnam Co. Ltd.
Several international and domestic retail firms are actively adjustingtheir operations in a bid to expand their market shares, according toexperts at CBRE Vietnam Co. Ltd.
After opening two Robinsdepartment stores in 2014, the regional retail giant Central Group fromThailand is planning to expand its electronics market by acquiring a 49percent stake of Vietnam’s retailer Nguyen Kim.
The Thai firm is also currently negotiating the purchase of shares in another Vietnam-based electronics retailer.
Meanwhile,the domestic conglomerate Vingroup recently announced the launch of itsfour large retail outlets Beauty Zone, ShoeCenter, Sportworld andFashion Megastore.
A number of commercial centres will be openedin the capital city of Hanoi by the end of this year, including a108,000-square metre shopping mall funded by the Japanese corporationAEON.
Vingroup will also open two centres in Dong Da and Long Bien districts.
Thecommercial real estate market is showing positive signs, since thevacancy rate is down by 1.5 percent compared to the previous quarter,reaching 17.1 percent. Rental prices are 6.9 percent lower compared tothe previous quarter and 10.5 percent lower than during the same periodlast year.-VNA
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