A Muji store in Japan (Photo: Reuters) Hanoi (VNA) – Japanese retailerRyohin Keikaku has announced that it will establish MUJI Co., Ltd., Vietnam inAugust 2019 and open its first store in the southern economic hub of Ho ChiMinh City in 2020.
MUJI is a global brand of retail stores, sellinga wide range of products with reasonable prices such as household items,furniture, and cosmetics.
With the third-largest population among ASEANcountries and strong economic growth, Vietnam has become a key market in theSoutheast Asian region.
This is part of the reasoning behind theJapanese retail company’s selection of Vietnam as its next destination toexpand business operations.
Many Japanese brands are already present in theVietnamese retail market, such as AEON, Takashimaya, 7-Eleven, and now Sumitomowith FujiMart.
AEON was the first to enter the country. AEONGroup has four shopping malls in Hanoi, Binh Duong, and Ho Chi Minh City. Itplans to build a new mall in Hanoi and another in Hai Phong in the near future,working towards a total of 20 malls across the country by 2020.
Japanese retailer Takashimaya decided to conquerthe Vietnamese market by setting up its first shopping mall in Ho Chi Minh Citywith the capital of over 25 million USD.
In July 2017, the first 7-Eleven store waslaunched in Ho Chi Minh City via Seven System Vietnam (SSV) as the master franchiseeof the 7-Eleven convenience store system in Vietnam, making Vietnam the 19thcountry to host the world’s largest convenience store chain. –VNA
VNA
