Auchan Selling Vietnamese Business
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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.
Questions & Answers
Q.What prompted Auchan's decision to sell its Vietnamese operations?
What prompted Auchan's decision to sell its Vietnamese operations?
Auchan stated that its Vietnamese business had faced tough conditions. This follows a similar situation with their Italian operations, which they recently sold after 23 stores closed last year.
Q.What was Auchan's original investment plan and store count target for Vietnam?
What was Auchan's original investment plan and store count target for Vietnam?
When Auchan entered Vietnam in 2015, it had planned to invest US$500 million. The goal was to open 300 stores across the country, significantly expanding its presence.
Q.Who is currently in negotiations to purchase Auchan's Vietnamese business?
Who is currently in negotiations to purchase Auchan's Vietnamese business?
Auchan Vietnam is currently in discussions with a local retail group regarding the acquisition of its operations. The article does not name the specific local group involved in these talks.
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