K-Market to expand network with VinGroup
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Korean chain K-Market is in talks with VinGroup to expand its network.
K&K, the owner of K-Market supermarket chain and K-Food, wants to expand by opening inside VinGroup’s commercial centres.
K-Market currently locates its retail stores inside Lotte Mart and Fivimart outlets.
The retail operators plans to expand its network to 100 supermarkets by 2020, and eyes a turnover of more than US$100 million in 2017.
Ko Sang Goo, chairman of K&K, said the company has been researching the Vietnam retail market carefully.
The group aims to add more services to its chain such as laundry and eateries and to import more Korean products to serve local needs.
K-Market currently has four stores in Hanoi and nine in Ho Chi Minh City.
Questions & Answers
Q.What is the primary objective of K-Market's expansion strategy?
What is the primary objective of K-Market's expansion strategy?
K-Market aims to expand its network to 100 supermarkets by 2020. This expansion involves opening new stores within VinGroup’s commercial centres and reaching a turnover exceeding US$100 million in 2017.
Q.What services does K&K plan to introduce into its stores?
What services does K&K plan to introduce into its stores?
K&K intends to add more services to its supermarket chain, such as laundry and eateries. The group also plans to import additional Korean products to meet local customer demands within Vietnam.
Q.How many K-Market stores currently operate in Vietnam?
How many K-Market stores currently operate in Vietnam?
K-Market currently operates a total of thirteen stores across Vietnam. Four of these stores are located in Hanoi, and the remaining nine are situated in Ho Chi Minh City.