Thailand’s Central Retail has opened a new mall in Vietnam’s Ha Nam province under its Go! Brand, The Investor has reported. The mall covers 1.4 hectares, cost US$12.6 million, and took just over a year to complete.
Of note, Central Retail recorded revenue in Vietnam of about US$777.4 million in the first half of this year. This was up from US$760 million last year. It was, however, also in the context of a 0.8 percent fall in sales in the Vietnam market for the retailer.
Of note, opening a retail store in Vietnam for foreign firms is not always easy. Not only are there a number of technical requirements that need to be met, but Vietnam has also developed its own retail store culture, putting its own twist on retail store shopping experiences.
Understanding the nuances of Vietnamese retail store culture and the complexities of business establishment procedures in advance of entering the market can therefore be crucial to the success of a new retail store or chain of retail stores in Vietnam.
See: How to Open a Retail Store in Vietnam: Ultimate Guide 2024