A corner of Citimart supermarket in HCM City. Nearly 30 Citimart supermarkets nationwide will be remained AeonCitimart. — Photo phocanh.vn

HA NOI (Biz Hub) — Giant Vietnamese retailer Citimart announced business co-operation with Japan's Aeon Group in HCM City on November 15.

Nearly 30 Citimart supermarkets nationwide will be renamed AeonCitimart, Citimart's marketing manager Do Kien Dat told bizhub.vn, adding that his group will not sell its shares to the Aeon Group.

"The Vietnamese retail market has been developing rapidly, but there is also fierce competition among the retailers. Our co-operation with the Aeon Group is expected to help us to become stronger in finance and maintain our development," said Dat.

He pointed out that the Aeon Group will transfer their technology and experience to Citimart to develop a network of retailers across the country.

In the first phase, about 500 food and consumer products with the brand name Top Value will be sold at Citimart supermarkets.

Dat said that the two sides aim to set up 500 large and small supermarkets nationwide by 2025, in which the Aeon Group will have about 10,000 products. — VNS