Vincom Commercial Services Corporation, a unit of Vingroup Group recently announced officially completed the acquisition of the entire chain of supermarkets Fivimart. The deal is part of a market expansion plan to realize VinMart's 200 supermarkets
Vincom Commercial Services Corporation, a unit of Vingroup Group recently announced officially completed the acquisition of the entire chain of supermarkets Fivimart. The deal is part of a market expansion plan to realize VinMart's 200 supermarkets and 4,000 VinMart + stores by 2020.
Overview on VinCommerce-Fivimart M&A
With the acquisition of a 100% stake in the Fivimart supermarket chain from Nhat Nam Joint Stock Company, VinCommerce officially owns the entire system of 23 Fivimart supermarkets. This is one of the retail units that have had more than 10 years of operation in the market, owning business locations in densely populated downtown areas.
Upon completion of the merger, Fivimart will be renamed VinMart. In addition to continuing to trade consumer goods, distribution of food items, household goods, cosmetic utensils, ... these new supermarkets will be enhanced fresh food items which are a trademark of VinMart.
Preparation for renewal an old name
VinCommerce will also upgrade all aspects of the VinMart & VinMart + supermarkets, facilities, goods, human resources as well as unified management mechanism. Fivimart's loyal customers will soon be converted into VinID's loyalty program.
According to representative of VinCommerce, in Vincom's development strategy, VinMart and VinMart + will not only be present in Vincom's stores. All Vinhomes urban centers and commercial centers throughout the country, but will also expand to each residential area to serve the masses of consumers with high quality products and services. The merger of the Fivimart system is one step in the process of realizing this plan.
Increase of supermarket network
After the merger, VinCommerce owns the largest retail system in Vietnam with about 100 VinMart supermarkets and 1,400 VinMart + convenience stores across the country. The target of the system until 2020 will reach 200 VinMart supermarkets and 4,000 VinMart + stores.