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Vingroup has acquired all 87 Shop & Go chain of convenience stores for just US$1. There are 70 stores in Ho Chi Minh City and 17 in Hanoi.
Shop & Go opened its first store in 2006 and became one of the first operators of modern convenience stores in Vietnam. A representative for the retail chain said, “we have invested a great deal in the Shop & Go system, however the results are not as expected. The Vietnamese retail market still has potential space to grow, but competition is tight. Therefore, we decided to retreat. In the market, Vingroup has proven its superiority in the retail sector. We decided to donate Shop & Go so that Vingroup can continue its investment and development.”
Vingroup operates 108 VinMart supermarkets and about 1,900 VinMart+ convenience stores. It will upgrade the infrastructure, train the staff and refresh the products of Shop & Go stores in the month of April. Last year, the group acquired FiviMart, which had 23 stores that were rebranded as VinMart after the merger. We believe the retailer will do the same with Shop & Go.
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