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Family Mart to stay in Vietnam
The Family Mart convenience store at Sky Garden apartment building on Le Thanh Ton Street in HCMC’s District 1 has been seen to resume operations. However, the store’s location has been moved inside, with fewer products on display in an area of some ten square meters only.
According to an employee, the store is temporarily moved in to meet the demand of people in the building while the old location is being upgraded. The store will operate as usual late this month.
This Family Mart store is 100% owned by Family Mart although it was opened when the retailer entered a cooperation deal with Phu Thai. Therefore, after the two sides cut the ties, the store was not renamed B’s mart under Phu Thai like 41 other stores.
There will be three convenience stores bearing the Family Mart brand to be opened this month and next at Le Thi Rieng Park in District 10, on Phan Van Tri Street in Go Vap District and at Riverside Residence in District 7, said the employee.
Such moves of Family Mart have indicated that it will surely stay in the Vietnamese market and will not withdraw due to losses as rumored previously. Many suppliers also say the same thing based on information they have.
However, the unanswered point is whether Family Mart will join hands with a local partner or operate independently in Vietnam.
Family Mart is a retail brand of Japan and has been present in Vietnam since 2010 via a joint venture with Phu Thai, a distributor of consumer goods in Vietnam. The Family Mart system had 42 stores in HCMC after three years, but Phu Thai has recently announced to take over the stake of Family Mart in the joint venture and developed its owned brand-B’s mart.