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Joint venture to launch about 50 stores by 2028 as shopping habits change
FujiMart Store No. 3 in Vietnam carries thousands of items, including fresh foods and daily necessities. (Photo courtesy of Sumitomo Corp.)
TOMOYA ONISHI, Nikkei staff writerMarch 26, 2022 01:44 JST
HANOI -- Vietnamese real estate conglomerate BRG Group and Japanese trading house Sumitomo Corp. have decided to build dozens of supermarkets in Vietnam to compete against traditional open-air markets in the COVID-19 era.
Joint venture FujiMart aims to have about 50 supermarkets operating by 2028, adding to the current three. Plans are to launch five to 10 stores a year, according to Thursday's announcement. BRG holds a 51% stake in FujiMart, with Sumitomo owning 49%.
The first FujiMart opened in Hanoi back in December 2018. The partners decided to expand after gaining enough know-how in running supermarkets in Vietnam.
FujiMart's operations are modeled on the Summit supermarket chain that Sumitomo runs in Japan. A typical FujiMart has a sales space of around 1,000 sq. meters. Most of the new stores will open in the Hanoi area.
"We'll offer products that matches local demand, and we aim to provide safe and worry-free products that go through rigorous quality management," said Keisuke Hitotsumatsu, head of FujiMart.
Vietnamese shop mainly at traditional markets, purchasing fresh meat and fish from merchants they know. But supermarkets are increasingly popular as consumption habits steadily shift not only because of a growing middle class, but also because the pandemic has made people more safety-minded.
Elsewhere, Japanese retailer Aeon plans to open around 100 supermarkets in Vietnam by 2025.
asia.nikkei.com
FujiMart Store No. 3 in Vietnam carries thousands of items, including fresh foods and daily necessities. (Photo courtesy of Sumitomo Corp.)
TOMOYA ONISHI, Nikkei staff writerMarch 26, 2022 01:44 JST
HANOI -- Vietnamese real estate conglomerate BRG Group and Japanese trading house Sumitomo Corp. have decided to build dozens of supermarkets in Vietnam to compete against traditional open-air markets in the COVID-19 era.
Joint venture FujiMart aims to have about 50 supermarkets operating by 2028, adding to the current three. Plans are to launch five to 10 stores a year, according to Thursday's announcement. BRG holds a 51% stake in FujiMart, with Sumitomo owning 49%.
The first FujiMart opened in Hanoi back in December 2018. The partners decided to expand after gaining enough know-how in running supermarkets in Vietnam.
FujiMart's operations are modeled on the Summit supermarket chain that Sumitomo runs in Japan. A typical FujiMart has a sales space of around 1,000 sq. meters. Most of the new stores will open in the Hanoi area.
"We'll offer products that matches local demand, and we aim to provide safe and worry-free products that go through rigorous quality management," said Keisuke Hitotsumatsu, head of FujiMart.
Vietnamese shop mainly at traditional markets, purchasing fresh meat and fish from merchants they know. But supermarkets are increasingly popular as consumption habits steadily shift not only because of a growing middle class, but also because the pandemic has made people more safety-minded.
Elsewhere, Japanese retailer Aeon plans to open around 100 supermarkets in Vietnam by 2025.
Vietnam developer and Sumitomo step up supermarket openings
Joint venture to launch about 50 stores by 2028 as shopping habits change
asia.nikkei.com
