HCMC - Saigon Co.op, owner of the Co.opMart supermarket chain, inaugurated one new store in Kien Giang Province late last week, which is its seventh store in the Mekong Delta region and the 39th store nationwide.
Co.opMart store opened in Kien Giang
By Quoc Hung - The Saigon Times Daily
HCMC - Saigon Co.op, owner of the Co.opMart supermarket chain, inaugurated one new store in Kien Giang Province late last week, which is its seventh store in the Mekong Delta region and the 39th store nationwide.
The country’s biggest retailer spent over VND60 billion on the store, which spans 7,500 square meters and includes other facilities such a bookstall, a fashion area, an entertainment center and a restaurant in An Binh Ward, Rach Gia City of the province.
Like the other stores in the chain, the new Co.opMart store stocks thousands of product lines. According to the Saigon Co.op, 90% of the store’s more than 20,000 items including consumer goods, fashion clothes and food, are supplied by local companies.
The new store is developed by the province’s Phuong Nam Tourism Trading Co. and Saigon Co.op Investment Development Joint Stock Co. (SCID), which is 85% owned by Saigon Co.op.
SCID has a primary mandate to develop the Co.opMart supermarket chain, manage shopping centers, exhibition centers, office buildings, apartments and other properties. The company has cooperated with other partners to develop new supermarkets in the country for Saigon Co.op.
This year, the company will develop 12 supermarkets around the country for SaigonCo.op to increase the number of Co.opMart supermarkets to about 50 by the end of the year.
Each of the new stores will cost over VND60 billion, so the total investment capital will amount to around VND800 billion, according to the company.
Saigon Co.op and SCID plan to open one more outlet in the Mekong Delta’s Long An Province next month.
Early this month, Saigon Co.op and SCID commenced work on a supermarket in the Mekong Delta province of Soc Trang. The development of the new store is part of Saigon Co.op’s broader plan to branch out to rural areas, said Nguyen Ngoc Hoa, chairman of Saigon Co.op. Saigon Co.op and SCID will spend VND70 billion on the project on Hung Vuong Street in Soc Trang City, which will be completed by the third quarter of 2010.