Auchan retail chain withdrew from Vietnam

After nearly 5 years of doing business in Vietnam, the leading retail group and supermarket chain of France will have to leave.

Auchan retail chain




After nearly 5 years of doing business in Vietnam, the leading retail group and supermarket chain of France will have to leave.


Yesterday, Mr. Edgar Bonte - French supermarket chain CEO Auchan Retail said on Les Echos that the group decided to sell 18 stores in Vietnam. Their business in Vietnam earned 45 million euros (50.4 million USD) last year and is still losing money.

On Reuters, the company spokesman replied that the plan to sell Auchan in Vietnam is receiving attention from some potential buyers. Le Monde said Auchan is the last Western distributor in Vietnam, after the Casino Group left in 2016.


See more: Auchan retail chain withdrew from Vietnam


Earlier this week, they also sold almost all of Auchan Retail Italia to Conad - an Italian retail group. In March, Auchan announced that it was reviewing markets that suffered losses due to difficult business conditions, such as Vietnam and Italy.

Auchan has entered Vietnam since 2015, currently has 18 supermarkets in Hanoi, Ho Chi Minh City and Tay Ninh. The representative of this brand said that he was negotiating with retail units in Vietnam to find out the takeover partner in the coming time. Thus, after nearly 5 years of presence, the leading retail and supermarket chain of France will have to "withdraw", ceding the Vietnamese market to other retailers.

Today, supermarket operations are still going on normally. Some employees of Auchan supermarket said they had received internal notice a few days ago about the change.
 

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Breaking Vietnam news | Vietnam's #1 News Site | Viet-News.com: Auchan retail chain withdrew from Vietnam
Auchan retail chain withdrew from Vietnam
After nearly 5 years of doing business in Vietnam, the leading retail group and supermarket chain of France will have to leave.
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