G7Mart, an affiliate of coffee producer Trung Nguyen Corporation, on December 11 made an agreement with the major Japanese retailer Ministop to develop a chain of convenience stores in Vietnam in May 2011.
According to this agreement, they will invest US$10 million in the first stage of their plan, with 75 percent of the state owned by G7Mart.
They said during the first year of operation, they would develop over 100 convenience stores called ‘G7Mart-Ministop’, throughout the country. This figure will increase to 500 units, in the next five years.
They said, the stores would mostly sell Vietnamese products.
Ministop, an affiliate of Japan’s first largest retailer AEON, runs 11,219 stores around the world. G7Mart convenient stores were introduced in Vietnam in 2006. The local partner stated, “It has developed 460 stores, with an average area of foursquare meters, across the country.
