Parkson Ha Noi Company Ltd. will close its last trade centre in Ha Noi on December 15 after eight years of operation in the capital city.

The Parkson Viet Tower is located at the Thai Hai-Tay Son intersection, an expensive section of the city centre. It covered more than 11,000cu.m., showcasing many famous brands, but the number of customers has been on the decline since its opening in 2008.

The reason for the closure was not disclosed, but it is said the company has been facing many difficulties, including competition from the new trade centres springing up across the city.

In January 2015, the company suddenly shut the doors of Parkson Keangnam Landmark on the capital city’s Pham Hung Street, requiring shop owners to move their assets out of the centre at night. This had raised many difficulties for the businesses, leading to deep dissatisfaction.

In a message sent to its customers recently, the company said the closure would not affect the business and operation of other Parkson trade centres in Viet Nam. All priorities and interests of Parkson membership card holders will be maintained and applied at all Parkson centres in Viet Nam.

At the Parkson Viet Tower, many shops have launched promotions, offering discounts of 20 per cent to 70 per cent, in an effort to boost sales of inventory and outdated fashions before they are forced to close on December 15. If they fail to sell all goods, they will ship the remaining products to their shops in other trade centres, such as Vincom or Royal City.

Parkson is the retail arm of the Lion Group, an international conglomerate that started operations in manufacturing and trade in the 1930s. The Lion Group has since ventured beyond the shores of Malaysia and established operations in diverse business sectors in China, Viet Nam, Hong Kong and Indonesia, as well as Mexico, Singapore and the United States.

The opening of Parkson Saigontourist Plaza on June 29, 2005, marked the entrance of Parkson to Ho Chi Minh City, where it was the leading department store in Asia and the first truly international department store to be opened in that city.

After Parkson Viet Tower is closed, there will still be eight Parkson trade centres in Viet Nam, including six centres in HCM City, one in the northern port city of Hai Phong and another in central Da Nang City. — VNS