Japan-based retailer FamilyMart plans to open its first convenience store in Vietnam later this year, reported IGD Retail Analysis.
The Ho Chi Minh City store is likely to be the first of many, judging by FamilyMart’s store opening practices in other Asian markets, and there are expectations the retailer will have about 300 stores within five years.
FamilyMart will form a joint venture in September with Vietnamese group Phu Thai Distribution and Investment, and a further stake will be held by trading house Itochu Corp.
