Saigon Co.op to expand network

Date : 20 July 2018

Vietnam's leading retailer, Saigon Co.op, announces plans to add more stores and develop a new premium format.

Strong performance to continue

The retailer has achieved revenues of VND30tn (US$1.31bn) last year, including 30% growth in exports through its joint-venture with NTUC FairPrice in Singapore. It expects to grow strongly again with 10% increase in sales this year. It is planning to increase its network with 19 Co.op Mart, two Co.op Xtra, 170 Co.op Food, 150 Co.op Smile and 50 Cheers stores. It will also open a new format called Co.op Mart Finelife which targets high-income shoppers and to trial omni-channel retailing.

Grocery landscape getting competitive

Foreign retailers are entering Vietnam due to the retail opportunities represented by its young population, rapidly rising incomes and growing consumption needs. Major retailers are investing in new store openings and creating appealing concepts to attract shoppers. Saigon Co.op is establishing its leadership position by growing its presence rapidly. We believe its local knowledge, deep relationships with suppliers and innovative capabilities will support its progress in the long term.