FairPrice, Saigon Co.op to develop hypermarket chain in Vietnam

Singapore-based NTUC FairPrice Cooperative Co Ltd (FairPrice) and Saigon Union of Trading Cooperatives Co Ltd (Saigon Co.op) inked an agreement Monday to set up a chain of hypermarkets in Vietnam.

The first hypermarket under the joint venture is expected to be operational in Vietnam by 2012. Its exact location has not been revealed.

As agreed, the hypermarkets will sell products from FairPrice and Saigon Co.op. In return, FairPrice’s chain in Singapore will also offer Saigon Co.op’s products on their shelves.

Saigon Co.op owns and operates a chain of 44 Co.opMart supermarkets, Co.op food and Co.op convenient stores nationwide. Their presence is especially strong in the southern hub of Ho Chi Minh City.

Founded in 1973, NTUC Fairprice Co-operative Ltd has grown to become Singapore’s largest retailer, with a network of more than 230 outlets. It also owns a Fresh Food Distribution Centre and a centralized warehousing and distribution company.

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