Magazines Archives - 2008 January

Foocosa, GR Vietnam to open 500 c-stores
Story 10

FOOD COMPANY OF HO CHI MINH CITY (Foocosa) and GR Vietnam Holdings Ltd announced last November their intention to set up 500 convenience stores in Ho Chi Minh City over the next few years.

GR Vietnam, the local division of Hong Kong food company Golden Resource Development International Ltd, will own 49% of the joint venture, leaving Foocosa with the majority share.

Foocosa deputy-director Huynh Cong Thanh expects the two companies to open at least 40 convenience stores over the next six months in main districts throughout Ho Chi Minh City,
which both are familiar with. The rest will be opened over the next four years.

Studies are being conducted in other major cities, such as Hanoi, for suitable sites for the rest of the outlets, he added.

Foocosa director Duong Tu Trinh expressed the hope that the venture would become one of the leading retail entities in the country. The sentiment is shared by GR Vietnam chairman
Howard Wong. The partnership marks the Hong Kong group’s entry into the lucrative Vietnamese market to establish its foothold, he said.

 



2008 January Stories:

Lotte acquires 49% stake in CTA Makro

Coach ventures out with new concept boutique in New York City

Sa Sa woos Singaporeans with loyalty card

Bharti Retail to set up shop in North India

Arch Angel gets feet well shod and cared for in personalised way

ION Orchard unveils six superbrand tenants

PRA recognises outstanding Philippine retailers

Aeon to open stores in Penang, Kuala Lumpur

Consumer confidence takes a dive for the year ahead in some markets

China’s secondary cities picking up credit-card use

Foocosa, GR Vietnam to open 500 c-stores

Paris-based Galeries Lafayette goes to China

S’pore sets aside S$750m to develop Next Gen broadband network

Online shopping challenge the role of retail staff

eBay partners rival Yahoo! Japan to encourage cross-border spending


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