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Saigon Co.op, the leading grocery retailer in Vietnam, targets to grow its stores from 650 to 1,000 by year end.
Diep Dung, the group's chairman, said there will be new openings for Co.op Mart supermarket, Co.op Xtra hypermarket, Co.op food stores, Co.op Smiles and Cheers convenience stores. It will also launch a new format targeting wealthy shoppers which includes advanced technology to meet their demands. Last year, the retailer added 160 stores to its network despite challenges in finding appropriate locations.
The retailer shared that it hit record sales with VND 1tn (US$ 43m) per week for eight consecutive weeks last Tet. This was attributed to being well prepared with advanced stocking before the holiday period.
Keep up-to-date with the latest retail developments from Asia.