INSIGHTS
Vietnam is now a much-coveted market in terms of convenience store expansions. The five major labels are Family Mart, B's Mart, Shop & Go, Circle K and Mini Stop. Thai TCC Group recently acquired all but one physical store of Japanese Family Mart (operated by local Phu Tai Group) in Vietnam, to run as B’s Mart; loc
Vietnam ripe for retail chains
Date: 2013/10/21
Source: Nikkei & China Times
Vietnam is now a much-coveted market in terms of convenience store expansions. The five major labels are Family Mart, B's Mart, Shop & Go, Circle K and Mini Stop.
Thai TCC Group recently acquired all but one physical store of Japanese Family Mart (operated by local Phu Tai Group) in Vietnam, to run as B's Mart; local Shop & Go and US-funded Circle K are also expanding steadily, whereas Japanese Mini Stop and Family Mart are attracting young customers with unique products and services.
TCC is planning to invest approximately US$51 to 58 million (THB 1.6 to 1.8 billion) in setting up a more comprehensive distribution network, with 20 logistics centers in total. According to TCC, there are only 88 stores by Shop & Go and 55 by Circle K, while B's Mart is No. 3 with 41 stores.
Phu Tai is expecting to reach 300 B's Mart locations by 2015, with investor TCC highlighting other major cities like Hanoi, and aims to become the largest chain in Vietnam. Family Mart, operated by a new local investor, is looking to reach 70 stores by the end of 2014.