FujiMart to expand its footprint in Vietnam
In this article (5)
Sumitomo Corporation is accelerating its expansion plan for its FujiMart grocery supermarket chain in Vietnam, eyeing about 50 new stores by 2028 through its extended partnership with BRG Group.
The retail chain aims to open five to 10 stores per year from FY2022, including new stores in Ho Chi Minh City. FujiMart offers a product range, sales floor design, and freshness management tailored to local needs that are based on Japanese-style supermarket operations.
“In recent years, the overall grocery retail market in Vietnam has been expanding rapidly due to rising personal incomes and improved living standards bolstered by economic growth,” Sumitomo said in a statement.
“Growing consumer awareness in areas of food security and safety, including hygiene measures taken to fight Covid-19 infections, has led to a shift from traditional retail outlets run by individual proprietors to modern stores, such as supermarkets and convenience stores which offer superior levels of safety and convenience.”
Launched in 2018 in Hanoi, FujiMart Vietnam currently operates three stores in the city. Under the partnership, BRG group owns 51 per cent of FujiMart while Sumitomo holds the remaining stake.
Questions & Answers
Q.Which company holds the majority stake in FujiMart Vietnam?
Which company holds the majority stake in FujiMart Vietnam?
BRG Group owns 51% of FujiMart Vietnam. Sumitomo Corporation holds the remaining stake under their partnership, which began when FujiMart was launched in Hanoi in 2018.
Q.How many new FujiMart stores does Sumitomo Corporation plan to open annually from FY2022?
How many new FujiMart stores does Sumitomo Corporation plan to open annually from FY2022?
Sumitomo Corporation aims to open between five and 10 new FujiMart stores per year from FY2022. This expansion plan includes opening new locations in Ho Chi Minh City, as part of a larger strategy.
Q.What is driving the expansion of the grocery retail market in Vietnam?
What is driving the expansion of the grocery retail market in Vietnam?
The grocery retail market in Vietnam is expanding due to rising personal incomes and improved living standards. Growing consumer awareness of food security and safety, including hygiene, is also leading a shift to modern stores.
Q.By what year does Sumitomo Corporation intend to have approximately 50 new FujiMart stores in Vietnam?
By what year does Sumitomo Corporation intend to have approximately 50 new FujiMart stores in Vietnam?
Sumitomo Corporation is targeting approximately 50 new FujiMart stores in Vietnam by 2028. This ambitious expansion is being pursued through its extended partnership with BRG Group.
Reader pulse
FujiMart’s Vietnam expansion strategy:
17,606 votes so far