Business
Marks & Spencer to be opened in Vietnam in 2014
Marks & Spencer (M&S), the iconic British retailer, has unveiled its plan to open a new flagship store at the Vincom Center Dong Khoi in Ho Chi Minh City this summer.
Trading from 1,200 square metres, the first Marks & Spencer store will be located in Ho Chi Minh City’s leading shopping mall at the Vincom Center Dong Khoi. M&S and Central Group plan to open 20 stores in Vietnam by 2020.
The new stores will offer an extensive range of exceptional, stylish products across womenswear, menswear and lingerie – as well as accessories, footwear and sleepwear. M&S Vincom Center Dong Khoi will feature the retailer’s latest store format which creates an inviting and inspiring shopping experience with an exciting take on fashion displays. At the store, customers will be able to explore M&S’s popular clothing brands, each with its own distinct look and identity which allows customers to easily see which brand best meets their personal style preference. For example, customers can choose from M&S’s modern authentic chic range, Indigo Collection or its accessible designer luxury collection Autograph.
Bruce Findlay, Regional Director for Asia at Marks & Spencer, said: “Growing our business with leading franchise partners like Central Group is an important part of our international growth strategy. With access to prime locations at key shopping malls across Vietnam and unrivalled local knowledge, Central Group is the ideal partner for us to open our new stores across the country. Marks & Spencer is a brand that’s synonymous with quality, style and value and we’re very excited to be entering Vietnam for the first time with our popular clothing products later this year.”
Mr. Tos Chirativat, Chairman of the Executive Committee and CEO of Central Group, said: “With 90 million residents, over 60% of which have a high purchasing power, Vietnam is an exciting market with high potential for growth and is an excellent destination for investors in the retail sector. Vietnam’s capital city and surrounding areas are showing signs of healthy and consistent growth, while average incomes appear to be on the rise as well. Additionally, the influx of foreign investors into Vietnam, aimed at supporting market expansion in Southeast Asia, is driving the strong growth of the Vietnamese economy, leading to apositive spending pattern among target consumers over the past couple of years.”
The new stores will offer an extensive range of exceptional, stylish products across womenswear, menswear and lingerie – as well as accessories, footwear and sleepwear. M&S Vincom Center Dong Khoi will feature the retailer’s latest store format which creates an inviting and inspiring shopping experience with an exciting take on fashion displays. At the store, customers will be able to explore M&S’s popular clothing brands, each with its own distinct look and identity which allows customers to easily see which brand best meets their personal style preference. For example, customers can choose from M&S’s modern authentic chic range, Indigo Collection or its accessible designer luxury collection Autograph.
Bruce Findlay, Regional Director for Asia at Marks & Spencer, said: “Growing our business with leading franchise partners like Central Group is an important part of our international growth strategy. With access to prime locations at key shopping malls across Vietnam and unrivalled local knowledge, Central Group is the ideal partner for us to open our new stores across the country. Marks & Spencer is a brand that’s synonymous with quality, style and value and we’re very excited to be entering Vietnam for the first time with our popular clothing products later this year.”
Mr. Tos Chirativat, Chairman of the Executive Committee and CEO of Central Group, said: “With 90 million residents, over 60% of which have a high purchasing power, Vietnam is an exciting market with high potential for growth and is an excellent destination for investors in the retail sector. Vietnam’s capital city and surrounding areas are showing signs of healthy and consistent growth, while average incomes appear to be on the rise as well. Additionally, the influx of foreign investors into Vietnam, aimed at supporting market expansion in Southeast Asia, is driving the strong growth of the Vietnamese economy, leading to apositive spending pattern among target consumers over the past couple of years.”
