VinMart expands network with Queenland Mart buyout
By Tay Lan
September 03, 2019 | 05:09 PM GMT+7
Vingroup has acquired eight Queenland Mart stores in Ho Chi Minh City, enlarging its network of VinMart supermarkets and VinMart+ convenient stores to 2,122 outlets nationwide.
VinMart expands network with Queenland Mart buyout
The acquisition of Queenland Mart is seen as the latest move by the local largest private conglomerate in its quest to enrich its retail ecosystem in Vietnam.
In April, Vingroup announced its buyout of the Shop&Go convenient store chain for $1.
Last year, the group also paid over VND1 trillion ($43.5 million) to take over 23 FiviMart supermarket stores from Nhat Nam JSC.
The value of the Queenland Mart deal nevertheless has not been disclosed this time.
The eight Queenland Mart stores will now join the Vingroup family, operating under the VinMart brand name alongside 112 other VinMart supermarkets.
Queenland Mart was established in 2014 by Ho Chi Minh City-based Vietnam Lotus Foods JSC.
According to VinMart, Queenland Mart membership will be transferred to Vingroup’s customer care service VinID to ensure customers’ benefits.
For Koen Soenens, Sales and Marketing Director at DEEP C, empathy is a compass that guides major deals, the way a leader builds a team, and the ambition to create a sustainable industrial zone that carries a Vietnamese identity.
Taseco Land has shifted its listing to HOSE and introduced a new upward-pointing arrow logo - a visual statement of its strategy to raise capital, expand its land bank, and strengthen its standing in Vietnam’s real estate sector
Located in the heart of Ho Chi Minh City, SAP Labs Vietnam is the second SAP Labs Network hub in Southeast Asia, following Singapore and is one of 20 countries that have SAP Labs globally.
A new partnership between EY and the Vietnam-Singapore Board Forum (VSBF) is set to strengthen ESG capabilities for Vietnamese businesses, helping shape more sustainable business models.
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
