Vincom Retail plans to open 13 new malls in 2019

Vincom Retail Joint Stock has announced plans to open 13 new retail centers this year. Tran Thu Hien, deputy general director of Vincom Retail spoke about the company’s strategy this year at a seminar entitled “The Future of Viet Nam’s Retail Industry” and said that the 13 new malls would take Vincom’s total retail area to 1.6 million square meters at 79 retail centers in 42 provinces and cities.

The new malls are to be developed under four Vincom Retail brands: Vincom Center, Vincom Mega Mall, Vincom Plaza, and Vincom+ and will include the centers at VinCity Ocean Park in and Vincity Sportia in Hanoi.

• Vincom Centre comprises large malls in major cities like Ha Noi and HCM city.

• Vincom Mega Mall targets middle- and upper-income customers by opening trade center in new urban areas

• Vincom Plaza targets young customers in the suburbs of major cities

• Vincom+ is opened in places where the retail market is still growing and underserved

Hien said that as new centers are developed, modern technologies would be adopted to bring customers more experiences at the company’s malls. To support tenants and attract customers, it plans to offer tenants free space to organize events, 

Vincom Retail is part of Vingroup and seeks to become a giant global retail space developer. In 2018 the company opened 20 new retail centers and attracted more than 180 million customers.