|Emart hypermarket in HCM City Gò Vấp’s District. — Photo courtesy of THACO
HCM CITY — THACO said it has completed the acquisition of South Korea’s Emart Inc’s hypermarket business in Việt Nam.
On May 25 it signed an agreement to acquire 100 per cent of the capital of Emart Vietnam Co., Ltd. and for an exclusive franchise, and they completed the transaction on September 27.
THACO will be responsible for operating, managing and expanding the Emart supermarket in Việt Nam, and the Korean retailer will send key personnel to Việt Nam to support the operation and supply private label products at competitive prices.
THACO plans to expand Emart not only in big cities but also tier two markets across the country.
In 2022 it plans to open two more stores in HCM City and expand to have 10 by 2025.
At its annual general meeting this year, in line with its strategic orientation of developing into a multi-industry corporation, THACO announced the establishment of THISO International Commerce and Services Corporation (THISO) for investing and developing a variety of commercial and services businesses such as supermarkets, wedding and conference centres, F&B, indoor entertainment and others. — VNS