Saigon Co.op eyes 13-percent growth target
AsemconnectVietnam - The country’s leading retailer, Saigon Co.op, has set itself a target of 13% sales growth this year.
It also plans to open eight to 10 Co.opmart supermarkets, one Co.opXtra hypermarket, one Sense City mall, 65 Co.op Food shops, and 500 Co.opSmile convenience stores, develop a new business model targeting high-end customers and enhance the distribution of organic products.
Diep Dung, Saigon Co.op chairman, said the co-operative would seek to optimise its existing operations, expand its network and improve the quality of goods, services and management and develop human resources and logistics to retain its leading position.
Despite economic difficulties and intense competition last year, Saigon Co.op saw an 11% growth in revenues, while its exports via Co.opXtra hypermarkets, a joint venture with Singapore, went up by 60%.
It opened 42 new Co.opmart supermarkets, Co.op Food stores, Sense City and Co.opSmile convenience stores last year.
Speaking at a Saigon Co.op review meeting, Tran Vinh Tuyen, deputy chairman of the HCM City People’s Committee, hailed the co-operative’s achievements, saying it had contributed greatly to the city’s economic development.
He urged the company to focus on both expanding at home and strengthening co-operation with foreign partners to sell Vietnamese goods abroad.