Vietnam grocer Saigon Co.op plans nearly 600 new stores

Vietnam grocer Saigon Co.op has revealed an ambitious store rollout program for 2017, adding nearly 600 stores by the year’s end.

The company will open 500 convenience stores, most of them in Ho Chi Minh City and the southern provinces of Vietnam.

It will also open 10 Co.op supermarkets, one Co.op Xtra hypermarket, one Sense City mall and 65 Co.op Food stores.

The company also appears to be broadening its focus to serve middle-class and high-earning consumers with plans to strengthen its organic product distribution. Chairman Diep Dung said the retailer will improve the quality of its goods and boost customer service.

The expansion is expected to add 13 per cent sales growth for Co.op this year.

Last year, Saigon Co.op opened 42 new Co.opmart supermarkets, Co.op Food stores, Sense City and Co.opSmile convenience stores. As a result, the retailer saw 11 per cent growth in revenue.