Locals step up M&A retail strategy with foreign players 14:00 | 21/05/2021
E-mart will sell its Vietnamese business to THACO
South Korea s largest supermarket chain E-mart is selling its retail store business in Vietnam to THACO Group after hitting road bumps to expand in the market. Accordingly, the local business will be converted to a franchise model managed by THACO, which will pay royalty fees to E-mart.
Since its debut in Vietnam in 2015, E-mart planned to open 10 hypermarkets within five years. At present, the retailer has only one hypermarket in Go Vap district of Ho Chi Minh City. The retailer failed to realise its expansion plans due to challenges in securing liscenses and development sites.
E-mart is quitting the local market to restructure its operations 10:59 | 19/05/2021
E-mart has stopped opening discount outlets
Accordingly, E-mart has stopped operating discount outlets and will only operate hypermarkets in South Korea. As part of this restructuring, E-mart has decided to transfer 100 per cent of its Vietnamese business to Truong Hai Auto Corporation (THACO) after seven years in the market.Â
Once the deal is completed, THACO will operate the E-mart brand under the franchising model, with the target of opening 10 discount stores by 2025. The South Korean player will only collect franchising fees.
So far, THACO and E-mart have kept quiet about the issue.
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