Latest News about retailer
Though many suburban shopping centers were handed over three to five years ago, they remain deserted. Tens of thousands of square meters of commercial premises have been left idle.
Foreign retailers, from Metro, Auchan, Casino Group to Parkson, have had to leave Vietnam because they did not understand the market well.
It is becoming more and more difficult for manufacturers and suppliers to distribute their products via supermarkets.
Foreign retailers started coming to Vietnam 20 years ago but many of them have had to leave.
By buying rivals and expanding networks, Vietnamese retailers are dominating the domestic retail market.
Contrary to all predictions, Vietnamese retailers are competing on an even footing with foreign counterparts in the domestic market.
The retailer community last week was stirred up by the news that a Vietnamese enterprise had acquired a famous foreign retail brand just after one month of negotiations.
It is still unclear who will take over the Auchan chain in Vietnam, though the announcement about the departure was made many days ago.
Once putting high hopes on the Vietnamese retail market, described as very promising with 90 million consumers, many retailers have had to leave the country.