HA NOI (VNS) — Electronics retailer Tran Anh Digital World JSC said it will close its electronics supermarkets in Vincom's Times City and Royal City on February 24.
The closure was announced after Vingroup, the owner of the two retail and entertainment complexes, said it plans to occupy the rented space.
Tran Anh Digital made the announcement regarding the closures on February 12, saying it is committed to ensuring warranty and other services for customers purchasing products at the two supermarkets.
The company also said it is looking for new retail space.
This year, Tran Anh is expected to open about five new supermarkets in the northern provinces and about four new ones in Ha Noi, including those being closed at the Times City and Royal City.
Going forward, the firm will open four new supermarkets in the AEON Long Bien commercial centre in Ha Noi and Hai Phong, and the Bac Giang and Thai Binh provinces.
Vingroup's recalling the retail space in the two complexes is said to be in anticipation of its newly-established VinPro Trading and Services Company Ltd occupying the vacated space.
The firm, based in HCM City, has a charter capital of VND50 billion (US$2.38 million), with VND47 billion ($2.23 million) contributed by Vingroup.
In a plan updated on January 3 this year, VinPro said it will also aim to enter the electronics goods retail market from March onwards.
It will officially inaugurate four electronics supermarkets in Vincom Dong Khoi and Vincom Thu Duc in HCM City, and in Times City and Royal City in Ha Noi.
In June 2015, VinPro plans to open three new supermarkets in Da Nang, Quang Ninh Province's Ha Long City and Ha Noi. Another one will be opened in the southern province of Can Tho in August. It expects to open 17 more stores in cities and provinces nationwide in November and December.
VinPro is targeting 25 supermarket openings in 2016 and 30 more in 2017. — VNS