Saigon Co.op takes over Auchan Vietnam
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Local retail group Saigon Co.op has acquired the Auchan Vietnam business.
Auchan will transfer its 15 closed store spaces and the three remaining stores still trading in Ho Chi Minh City’s Districts 7 and 1, along with its e-commerce and supply-chain retail system to Saigon Co.op.
According to the arrangement, Saigon Co.op will renovate the closed stores and restore operations under their own brands which include Co.opMart, Finelife and Co.opXtra.
The three stores still trading will maintain their Auchan branding until next Lunar New Year.
In May, Auchan decided to pull out of Vietnam after consistent losses.
Questions & Answers
Q.What will happen to the Auchan stores in Vietnam after the acquisition?
What will happen to the Auchan stores in Vietnam after the acquisition?
Saigon Co.op will renovate the 15 closed stores and reopen them under its own brands like Co.opMart, Finelife, and Co.opXtra. The three stores still trading will keep the Auchan branding until the next Lunar New Year.
Q.Why did Auchan decide to leave the Vietnamese market?
Why did Auchan decide to leave the Vietnamese market?
Auchan decided to pull out of Vietnam because it experienced consistent losses in the market. The company made this decision in May before the acquisition by Saigon Co.op.
Q.Which specific Auchan assets did Saigon Co.op acquire?
Which specific Auchan assets did Saigon Co.op acquire?
Saigon Co.op acquired Auchan's 15 closed store spaces, the three remaining trading stores in Ho Chi Minh City's Districts 7 and 1, and its e-commerce and supply-chain retail system.
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