Malaysian retail giant to open sixth outlet in Vietnam

An artist's impression of Parkson Flemington Trade Center in Ho Chi Minh City (Photo courtesy of Thoi Bao Kinh Te Sai Gon Online)

Malaysian department store chain Parkson Holdings Berhad will open its sixth outlet in Vietnam this Friday in Ho Chi Minh City, a move aimed at expanding its network in the growing Southeast Asian market.

The group’s fourth HCMC-based outlet, the Parkson Flemington Trade Center, is invested by the Thuy Duong Commercial and Real Estate Co. and under the management of the Parkson Vietnam Commercial Management Co., Ltd.

Covering a total area of 26,000 square meters at 182 Le Dai Hanh Street, District 11, the six-storey trade center is part of the Flemington project, which includes entertainment areas, office space and high-end apartment complex.

The project is located at one of the busiest residential and commercial areas in the district, near the Phu Tho Race Course, The Saigon Times Daily reported.

The first floor is dedicated to cosmetics, perfume, leather shoes and jewelry. Customers will find luxury fashion brands, shoes, bags and lingerie on the second floor.

Men clothes and sportswear are on sale on the third floor while one floor above is for electronic appliances.

A food court and entertainment facilities can be found on the next level. The trade center’s basement includes a supermarket, candy stores, a bank, shops selling flowers, CDs-DVDs, glasses, pictures, a hair salon, a tailor’s shop, a bookstore and other services.

The group will also introduce its ‘Ambassador’ service, providing customers with information about Parkson shopping centers, consultation and standard and premium customer services.

Tham Tuck Choy, general director of Parkson Vietnam, said he expected the new mall would continue the success story of the group had achieved with previous shops.

“Our strategy is to continue opening three to four shopping centers a year across Vietnam’s major cities in the near future,” Choy said.

Founded in 1987, Parkson, the retailing arm of Malaysian conglomerate Lion Group, is one of the largest retail operators in Malaysia and China.

Parkson earlier this month announced its plan to open 12 new outlets in Vietnam, China and Malaysia next year, reflecting the group’s optimism on economic rebound in the post-crisis period in the three emerging markets.

The group entered Vietnam in 2005 and currently operates three stores in HCMC’s District 1 and 5 and Tan Binh District as well as one in Hanoi and another in northern port city of Hai Phong.

Vietnam currently has more than 1,000 convenience stores, 250 supermarkets and trade centers compared to more than 9,000 traditional markets and about 250,000 retail venues of other types.

The country was named the sixth most attractive emerging market destination for retail investment in the world this year by management consulting firm A.T. Kearney.