RoK’s GS25 to open convenience stores in Vietnam
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GS25 Vietnam says it will open its first store in Ho Chi Minh City in mid-January, after a two-month delay.
Three more stores will open soon afterwards.
Last July, GS25’s parent company GS Retail signed a JV agreement with Vietnam’s Son Kim group to open 2500 GS25 Vietnam stores during the next 10 years.
Vietnam will be GS Retail’s first foreign market.
After its Vietnam launch, GS Retail plans to seek opportunities in other markets.
Vietnam’s convenience store industry is currently experiencing annual growth of 70 per cent, fuelled by a youthful population.
Last June, 7-Eleven opened its first Vietnam store, and now operates 11 in Ho Chi Minh City, with plans for 100 within 10 years.
Questions & Answers
Q.When will the first GS25 store open in Ho Chi Minh City, and how many are planned to open soon after?
When will the first GS25 store open in Ho Chi Minh City, and how many are planned to open soon after?
The first GS25 store is set to open in mid-January, following a two-month delay. Three additional stores are scheduled to open shortly after this initial launch in Ho Chi Minh City.
Q.Who is GS Retail partnering with for its venture into the Vietnamese convenience store market?
Who is GS Retail partnering with for its venture into the Vietnamese convenience store market?
GS Retail has formed a joint venture agreement with Vietnam’s Son Kim group. This partnership aims to establish 2500 GS25 Vietnam stores over the next decade, marking GS Retail's entry into a foreign market.
Q.What is the current growth rate of the convenience store industry in Vietnam, and what is driving this growth?
What is the current growth rate of the convenience store industry in Vietnam, and what is driving this growth?
Vietnam's convenience store industry is experiencing an annual growth rate of 70 per cent. This significant expansion is primarily being fuelled by the country's youthful population, creating a strong market demand.
Q.How many 7-Eleven stores are currently operating in Ho Chi Minh City, and what are their future expansion plans?
How many 7-Eleven stores are currently operating in Ho Chi Minh City, and what are their future expansion plans?
7-Eleven currently operates 11 stores in Ho Chi Minh City, having opened its first in Vietnam last June. The company has plans to expand its presence to 100 stores within the next 10 years.