Japan’s Ministop signs HCMC convenience-store deal

Japanese convenience store operator Ministop has set up a US$15 million joint venture in Ho Chi Minh City in partnership with the local Trung Nguyen Corporation.

Ministop and the latter’s G7 Mart convenience chain have signed a deal to open 100 outlets in the first year of operation starting May 2011, and at least 500 in the next five years.

The stores will mostly sell Vietnamese products.

Ministop, an affiliate of Japan’s first largest retailer AEON, runs 11,219 stores worldwide.

G7 Mart convenient stores were introduced in Vietnam in 2006, but it has been closing outlets due to weaknesses in technology and logistics.

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