Vingroup Corporation started joining the retail market in Vietnam in October 2014 and started the chain of convenience stores from mid-2015. Currently Vingroup are blossoming 880 shop in Hanoi, Tp.HCM and from now to end of the year 2016 will continue to open new stores 10,000 again.Vingroup are to make the most of the strengths in the field of real estate to win market share of the retail industry. The Chairman, Mr. Pham Nhat Vuong, asserting that the group needs to catch the prime location before foreign companies rushing into the market. Even, Vingroup also claimed they accept to bear the initial losses with about 30% of the store.From now to the end of the year 2016, Vingroup has plans to open 400 new stores and commercial centers of business furniture. Revenue from the retail sector currently accounted for 20% of the total turnover of the group, Vingroup aims to raise that ratio to 50% after only a few more years.
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