Auchan Retail Vietnam, a member of Auchan Group ’s plans to sell its loss-making business in Vietnam is already drawing interest from potential buyers, a company spokesman told media on Wednesday,
According to a report by Dominique Vidalon on Reuters, Auchan Retail CEO Edgar Bonte said that the group had decided to sell its 18 stores in Vietnam. Those Vietnam outlets currently generate revenue of 45 million euros ($50.4 million). The exit from Vietnam follows Auchan’s deal earlier this week to sell almost all the activities of its loss-making Auchan Retail Italia arm to Conad, the Italian co-operative retail group.
Auchan Retail had said in March that it was conducting a review of its loss-making markets, such as Italy and Vietnam where it has faced tough business conditions.
In 2018, the sideline of the conference on 30 years of foreign direct investment attraction in Vietnam, Auchan expected to expand its business in Vietnam into 300 supermarkets within the next four years in the two main zones – Hanoi and Ho Chi Minh City. This information was provided by HR Director of Auchan Retail Vietnam Jean-Manuel Cros. It seemed, Auchan Retail Vietnam has faced great challenges in an increasingly competitive market.
Groupe Auchan SA is a French international retail group and multinational corporation headquartered in Croix, France. It is one of the world’s principal distribution groups (337,900 employees) with a presence in France and 15 countries.
The company began when Gérard Mulliez opened his first self-service shop in Roubaix in the district of Hauts-Champs, the pronunciation of which is identical to that of “Auchan”.
According to Wikipedia, Auchan has branches in France, and internationally in China, Hungary, India, Iraq, Italy, Luxembourg, Poland, Portugal, Romania, Russia, San Marino, Senegal, Spain, Ukraine and Vietnam.
Auchan had 639 hypermarkets and 2874 supermarkets around the world.
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