Leading British retailer to enter Vietnam - Leading British retailer to enter Vietnam - Website Ho Chi Minh City
Marks & Spencer (M&S), one of the largest British retail clothing and food companies has announced its plan to set foot on Vietnamese market, the Government news portal reported.
M&S is to open a 1,200 sqm flagship store at Vincom Center in Dong Khoi, District 1 in Ho Chi Minh City this summer, offering products across womenswear, menswear and lingerie as well as accessories, footwear and sleepwear.
With access to prime locations at key shopping malls across Vietnam and unrivalled local knowledge, Central Group is the ideal partner for us to open our new stores across the country, Bruce Findlay, regional director for Asia at Marks & Spencer, was quoted as saying.
Chief Executive Officer of the Central Group revealed that the purchasing power of a nation with over 90 million people is targeted by retails investors, adding that increases in foreign investment in Vietnam have promoted economic growth and consumption.
Vietnam is poised to fully open the retail market in line with World Trade Organization (WTO) commitments in 2015.