Mydin in Malaysia, 7-Eleven in Indonesia, and Berli Jucker in Vietnam reveal store expansion plans.
Retailers seek to build convenience market share in Vietnam
Berli Jucker plans to open a further 205 convenience stores in Vietnam to reach 300 by 2018. Investing THB 1bn in the expansion, the retailer hopes this additional scale will accelerate its convenience business to a break even point. This news follows Berli Jucker's recent acquisition of the Metro cash and carry business in Vietnam.
The convenience format is increasing in the spotlight in Vietnam, with retailers including Saigon Co.op, FamilyMart, Circle K and Shop & Go poised to expand their networks. Store density is significantly lower than many other south east Asian markets; retailers seek to build presence, brand recognition and market share, digging in in anticipation of the longer term opportunities. strong growth in the channel g the long term opportunities.
Mydin invests in big box format
Multi-format retailer Mydin plans to expand its hypermarket portfolio, targeting 42 stores by 2018, an addition of 25 new stores. Five of these will be added next year.
7-Eleven ramps up scale in Indonesia
Building on its ambition for 50 new stores in FY 2014, 7-Eleven plans a further 60-70 stores next year. While its store network is far behind convenience market leaders Alfamart and Indomaret, 7-Eleven's expertise in food to go places it in closer competition with foodservice outlets.