Korean GS Retail to open store in City

Tuesday, Jan 02, 2018 09:56

Korean’s GS Retail to open store in City. — VNS Photo

GS Retail, one of the largest convenience store chains in South Korea, will open its first GS25 branch in HCM City in mid-January.

Starting with the launch of its first outlet, GS Retail plans to open a total of four convenience stores in the city, The Korea Herald quoted the company as saying.

Earlier in July, the Korean firm and Vietnamese Sơn Kim Group formed a joint venture which will be in charge of operating local GS25 franchises in Việt Nam. Accordingly, GS Retail, the convenience store chain’s parent company, holds a 30 per cent stake in the venture, while Sơn Kim holds 70 per cent.

The Korean retail giant strives to open more than 2,500 convenience store branches over the next 10 years in Việt Nam, where the industry is showing high growth potential with customers in their 20s and 30s, who make up a large proportion of convenient store users, accounting for 34.6 per cent of the nation’s population. — VNS

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