Vincom Retail to expand business this year, masively
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Vincom Retail plans to open 30 more shopping centres in Vietnam this year, increasing its mall network to 200 by 2021.
To fund the plan, the retail subsidiary of Vingroup will raise US$500 million.
The first of the new malls to open will be Vincom Center Landmark 81 and Vincom Center Lieu Giai in Hanoi.
Other malls will be launched around Vietnam under Vincom Plaza and Vincom + formats.
Vincom Retail launched an IPO last October. Its total revenue last year was VND4455 billion (US$195 billion), up 17 per cent year-on-year.
It currently operates 51 shopping malls across Vietnam.
Questions & Answers
Q.How many new shopping centres does Vincom Retail intend to open this year?
How many new shopping centres does Vincom Retail intend to open this year?
Vincom Retail plans to open 30 more shopping centres across Vietnam this year. This expansion will significantly increase their current network of 51 malls, contributing to their long-term growth strategy.
Q.By which year does Vincom Retail aim to have 200 shopping centres operating?
By which year does Vincom Retail aim to have 200 shopping centres operating?
The company aims to expand its mall network to a total of 200 shopping centres across Vietnam by the year 2021. This target follows their planned opening of 30 new centres this year.
Q.Which new Vincom Retail malls are expected to open first?
Which new Vincom Retail malls are expected to open first?
The first new malls scheduled to open are Vincom Center Landmark 81 and Vincom Center Lieu Giai in Hanoi. These will precede the launch of other new centres throughout Vietnam.
Q.How much funding is Vincom Retail raising to support its expansion plans?
How much funding is Vincom Retail raising to support its expansion plans?
Vincom Retail, the retail subsidiary of Vingroup, plans to raise US$500 million to fund its expansion. This capital will support the opening of 30 new shopping centres this year and other developments.
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