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.
After opening two Robins department stores in 2014, the regional retail giant Central Group from Thailand is planning to expand its electronics market by acquiring a 49 percent 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 its four large retail outlets Beauty Zone, ShoeCenter, Sportworld and Fashion Megastore.
A number of commercial centres will be opened in the capital city of Hanoi by the end of this year, including a 108,000-square metre shopping mall funded by the Japanese corporation AEON.
Vingroup will also open two centres in Dong Da and Long Bien districts.
The commercial real estate market is showing positive signs, since the vacancy rate is down by 1.5 percent compared to the previous quarter, reaching 17.1 percent. Rental prices are 6.9 percent lower compared to the previous quarter and 10.5 percent lower than during the same period last year./.