RoK’s GS25 to open convenience stores in Vietnam
By Mei Ling Tan
1 min read
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.