The continued closure of Parkson stores shows that the time of the department store may be over. Shopping malls are the growing tendency in large cities.

VietNamNet Bridge - Parkson recently shut down its shopping center at Cantavil An Phu in district 2, HCM City. To date, the big retailer from Malaysia has closed five malls in Vietnam.

VietNamNet Bridge - The Vietnamese retail market is undergoing a restructuring with new trends expected in the next three years, especially changes in investors’ strategies.

Parkson, which was once the leading distributor of branded goods in Vietnam, has had shut down four department stores in recent years, including all of their stores in Hanoi.

VietNamNet Bridge - The closing of a series of Parkson trade centers in Hanoi indicates that luxury shopping malls are facing pressure from the economic crisis.

 VietNamNet Bridge – While the network of large-scale shopping malls has been expanding rapidly, the department store development has slowed down, attributed to the changes in the consumers’ tastes.