Rural areas are a promising market for Vietnamese retailers as they face intense competition from foreign businesses, especially given the full opening of the retail market from next year.
Mai Thi Tuyet Hoa, director of Niesel Vietnam's Research Department, said at a conference on the country's retail sector held in Ha Noi last Friday.
In order to deliver best service experience to customers, Indian multinational telecommunications services company Bharti Airtel has opened 100 retail outlets in the country in the last 14 months which are owned and operated by it.
Airtel ventured into its company-owned-company-operated (COCO) stores in February last year with the opening of the first store in Delhi.
"In a span of 14 months, this retail footprint has been extended to 35 cities and towns across 14 states," the company said in a statement.
After reporting losses of close to USD200 million in the holiday quarter, Radio Shack, the US chain of electronic retail stores, announced last week that it would close a fifth of its 5,000 stores. Competition from online majors, especially the largest in the world, Amazon, is said to be behind the decline of Radio Shack and many others across product categories.
Japanese casual wear brand Uniqlo is eyeing the fast growing travel retail market and plans to launch a new store at Singapore's Changi Airport Terminal one on Tuesday. With a sales floor of approximately 3,900 square feet, it's Uniqlo's 16th store in Singapore, offering both Men's and Women's apparel.
Prior to the launch of the new store in Changi Airport, the fast fashion retailer only has the airport stores at Narita Airport's Terminal one and two in Tokyo.
Thailand's political impasse is hitting sales at one of the country's largest family-owned conglomerates, Central Group, at a time when the company is seeking growth for its retail and property divisions elsewhere in Asia and in Europe.
The Hefei ID Mall, a 170,000-square metre retail and office development project, is set to rise in Hefei, Eastern China in 2015.
Designed by global architecture, urbanism and design practice Broadway Malyan, the shopping mall will take up 110,000 square metres of the property across six levels. It will also have a 60,000 square metre high-grade office space in a 150 meter tower.
Italian luxury leather goods maker Serapian has recently opened two new stores in Moscow, at Moscow Gallery and Vremena Goda shopping centers, both in franchising with a local partner. Next month, Serapian is inaugurating a flagship store in Hong Kong. Serapian’s new retail concept has been conceived and implemented by Studio Laboratorio 84.
Here's a paradox: Manufacturers are seeing big sales increases in China while retailers in the country are struggling, losing money, closing stores, going out of business.
Several domestic firms have seized the opportunity to invest in Vietnam's retail industry, even though the economic crisis is far from over.
Nguyen Manh Duy, managing director of the Ocean Retail and Real Estate Management Company, said that Ocean Group, his parent company, plans to open between 70-80 supermarkets and shopping centres nationwide by 2015.
This would make the retail industry one of the group's core businesses. The company also has two supermarkets that are already in operation, the Ocean Mart in Ha Dong and Ocean Mart Thang Long.
GNC Holdings, Inc., the US-based specialty retailer of health and wellness products, on Monday announced that it is expanding its retail presence in China by opening the first stand-alone GNC store in Shanghai. The first stand-alone location opened yesterday in Raffles City, one of Shanghai's prime retail and office space locations.
The move complements GNC's existing marketing footprint in the world's largest consumer market. The company plans on opening an additional 25 locations in China within the next 12 months.