Vietnamplus

The Saigon Union of Trading Co-operatives (Saigon Co.op) will take over 18 stores and entire e-commerce retail system of France’s Auchan Retail in Vietnam under a merger and acquisition deal reached between two sides on late June 27.

The French supermarket group Auchan Retail has decided to sell 18 loss-making stores in Vietnam, said CEO Edgar Bonte.

Foreign retailers have made stronger presence in the Vietnamese market over the years, posing great pressure on their domestic competitors.

Auchan Retail Vietnam opened a new supermarket in Hanoi on October 24.

Auchan Retail Vietnam has opened a new supermarket in Hanoi, the 15th of its kind in Vietnam.

Representatives from 27 Vietnamese rice exporters and producers had a working session with France’s leading retailer Auchan to enquire about the group’s rice import demand.

A recent flurry of foreign retailer activity has raised an alarm among domestic peers.