G7 Mart Retail Network Debuts
G7 Trading and Service Holding Company, a subsidiary of Vietnamese coffee giant Trung Nguyen, officially launched its Convenient Marts retail network totaling US$365 million in Ho Chi Minh City on August 5.
The company currently operates 70 retail centers, 500 outlets and 9,500 member stores under the brand name G7 across the country.
It plans to open an additional 100 retail centers, 5,000 convenient marts and 7,000 member stores by the end of next year, said Chairman Dang Le Nguyen Vu.
The new network seeks to move traditional retail shops, which are wilting under competition from modern supermarkets, and foreign-invested retail centers under one roof.
These shops thus did not have to pay brokerages and other costs, which would allow them to sell their goods at competitive prices, added Mr Vu.
The company so far has inked deals with around 200 domestic manufacturers to supply products for the network.
G7 was planning to build trade centers – to be called Viet Town – abroad to promote Vietnamese products and culture, he said.
P.V
Vietnamese
