Fashion
The French supermarket group’s CEO Edgar Bonte told that the group had decided to sell its 18 stores in Vietnam which currently generate sales of US$50.4 million.
In March, Auchan Retail said its Italian and Vietnamese businesses had faced tough conditions.
The group has since sold the Italian operation – which closed 23 stores last year – to Conrad.
Entering Vietnam in 2015, Auchan had planned to invest US$500 million to open 300 stores.
The stores are often located in apartment buildings, targeting local residents. Auchan Vietnam is in talks with a local retail group to acquire the business.
