Circle K opens 100th outlet in Vietnam, to add 50 more by year end
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US-owned 24-hour convenience store Circle K has opened its 100th outlet in Vietnam and expects to have 150 by the year’s end.
Vietnam CEO Tony Yan was optimistic about achieving the target, saying Vietnam’s modern retail industry was in the initial development phase.
While modern retail represented only 13 percent of the total market share in the country compared to 50 percent elsewhere in Asia, Vietnam was a promising market of 90 million people with rising incomes, he said.
Questions & Answers
Q.How many Circle K outlets does the company expect to operate in Vietnam by the end of the year?
How many Circle K outlets does the company expect to operate in Vietnam by the end of the year?
Circle K anticipates having 150 outlets open in Vietnam by the year's end. This includes the recently opened 100th store, with plans for an additional 50.
Q.What factors make Vietnam an attractive market for Circle K's expansion plans?
What factors make Vietnam an attractive market for Circle K's expansion plans?
Vietnam is considered a promising market due to its large population of 90 million people and rising incomes. The modern retail industry there is also in its initial development phase.
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