New JV model helps develop domestic retail market
VOV.VN - A Vietnamese retailer is teaming up with a foreign counterpart to provide fresh impetus for the local retail market controlled by foreign giants.
Vietnamese firm BRG Group recently co-operated alongside Japan’s Sumitomo Corporation to launch FujiMart supermarket in Hanoi the third of its kind nationwide.
Sumitomo Corporation boasts more than 50 years of experience in both the Japanese and foreign retail industry, while BRG Group possesses a deep understanding of the Vietnamese market and the preferences of local consumers.
The new joint venture model between the two groups is expected to provide local consumers with a diverse range of high quality and nutritious products to choose from when shopping.
Keisuke Hitotsumatsu, general director of FujiMart Vietnam, notes that both BRG and Sumitomo boast strong financial resources and a rich experience in which to operate supermarket chains.
Elaborating on not why they have not rapidly replicated the model, the FujiMart representative points out that the firm has always strived to open high-quality supermarkets to meet the increasing demands from shoppers in Hanoi.
According to the CEO, the opening of additional FujiMart supermarkets through joint efforts in the future will certainly make significant contributions to the constant development of the local retail industry.
