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Vietnam’s Vincom shifts focus from expansion to upgrades

Inside Retail

Reports have been circulating for more than a month now that Thailand’s Central Group is in talks with Vietnam’s Vincom Retail that could lead to the Thai company buying a majority stake. The slowdown in openings is understandable after a breathtaking four-year period from 2015-19 when Vincom opened more than 50 malls.

Expansion 130
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Analysis: How Vietnam’s malls are riding the wave of recovery

Inside Retail

On 12 July, a rumour circulated on social media that the chairperson of Vingroup, which includes Vincom Retail, Vietnam’s largest mall operator, had been barred from leaving the country. The optimistic outlook has led retailers in the Vietnam region to dust off their pre-pandemic expansion plans and accelerate store openings.

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From Cobblestones to Cyberspace: VMSD Celebrates Its 125th Year of Service to the Retail Industry

VMS

Within a few short months of its debut, circulation grew into the tens of thousands. Economic expansion was fueled by a new affluence. But over-optimism fueled over-spending, over-borrowing and over-expansion – ultimately leading to over-storing. It was the decade of McCarthyism, nuclear fears, beatnik poetry and the hula hoop.