Nojima commences Vietnam rollout
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Japanese consumer electronics retailer Nojima is about to commence its store rollout program in Vietnam, following its acquisition of an additional 21 per cent of local chain Tran Anh Digital Worldlast June.
The first of the new stores will carry both retailer’s brands when it opens in October inside the new Aeon shopping centre, currently under completion on the outskirts of the capital city Hanoi.
Like the Nojima stores in Japan, the Hanoi shop will feature wide aisles and LED lighting, and stock a range of Japanese brand appliances. It will also stock Nojima’s house brand Elsonic.
Tran Anh is based in Hanoi and has 15 stores in the northern regions of Vietnam. It is on track to open as many as nine more stores this year.
Research house GfK reports home electronics sales in Vietnam exceeded US$5.5 billion last year, the second year in a row growth in the category has exceeded 20 per cent year on year.
Nojima had held 10 per cent of the shares in Tran Anh before June and now owns about 31 per cent of the business.
Questions & Answers
Q.What is Nojima's ownership stake in Tran Anh Digital World after the recent acquisition?
What is Nojima's ownership stake in Tran Anh Digital World after the recent acquisition?
Nojima has increased its ownership in Tran Anh Digital World to about 31 per cent. Prior to last June's acquisition of an additional 21 per cent, the Japanese retailer had held 10 per cent of the shares in the local chain.
Q.Where will Nojima's first new store open in Vietnam and what features will it include?
Where will Nojima's first new store open in Vietnam and what features will it include?
The first new store will open in October inside the new Aeon shopping centre on the outskirts of Hanoi. It will feature wide aisles, LED lighting, Japanese brand appliances, and Nojima's house brand Elsonic.
Q.What is the current state of Tran Anh Digital World's store network and expansion plans?
What is the current state of Tran Anh Digital World's store network and expansion plans?
Tran Anh Digital World currently operates 15 stores in the northern regions of Vietnam, all based in Hanoi. The company is on track to open as many as nine more stores by the end of this year.
Q.What is the recent performance of the home electronics market in Vietnam?
What is the recent performance of the home electronics market in Vietnam?
Home electronics sales in Vietnam exceeded US$5.5 billion last year. This marks the second consecutive year that growth in the category has surpassed 20 per cent year on year, indicating strong market expansion.
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