Nguyen Kim Trading Joint Stock Company will open five more shopping centers in HCMC and Dong Nai Province this month, taking to over 50 the total nationwide two years ahead of schedule.
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| A customer inspects a phone at a Nguyen Kim shopping center. |
Nguyen Kim Trading Joint Stock Company will open five more shopping centers in HCMC and Dong Nai Province this month, taking to over 50 the total nationwide two years ahead of schedule.
A new shopping center will be opened on Nguyen Thi Thap Street in District 7, HCMC tomorrow. The two-floor facility will be a standalone building covering 1,300 square meters. Nguyen Kim’s District 7 shopping center will have to compete with other electronics stores long established around the area like Dien May Xanh, Cho Lon and Thien Hoa.
In mid-August, Nguyen Kim will open three more centers in HCMC and one in Trang Bom District in Dong Nai Province.
All the five new shopping centers will be mid-scale ones, with a display area of around 1,500 square meters. Currently, Nguyen Kim focuses on shopping centers of three segments, small-scale venues of less than 500 square meters of display space each, mid-scale ones of around 1,500 square meters, and large-scale centers with more than 5,000 square meters of display space each.
In July, Nguyen Kim opened two other shopping centers in Bac Lieu Province and Gia Lai Province.
With new centers to open this month, Nguyen Kim will have 51 shopping centers of all scales nationwide. The fast tempo is attributed to the company’s move to join forces with Thailand’s Central Group, as Nguyen Kim sold a 49% stake to this strategic partner more than two years ago.
Therefore, since selling shares to Central Group in January 2015, Nguyen Kim has been able to expand its business faster. Before the deal, it used to take Nguyen Kim, which only had 30 shopping centers at the time, a long time to open any new center.
Moreover, thanks to the relationship with the Central Group, Nguyen Kim’s shopping centers have made their way to many Big C supermarkets nationwide, which are also under the management of the Central Group. This is also a good way for the firm to expand its network.
However, Nguyen Kim’s network expansion is still slower than that of Dien May Xanh, one of its main rivals in electronics retail. The retailer of The Gioi Di Dong aims for many more small stores, and so far, there have been 443 Dien May Xanh stores in all cities and provinces nationwide.
(Source:SGT)
