BRG Group yesterday signed a joint venture agreement with Sumitomo Corporation of Japan to expand the FujiMart supermarket chain in Vietnam.
|Nguyen Thi Nga, chairwoman of BRG Group, and chairman and general manager of Sumitomo for Asia and Oceania Shiomi Keigo signed the joint venture contract |
Speaking at the signing ceremony, Shiomi Keigo, president and CEO of Sumitomo Asia and Oceania said, “The FujiMart supermarket chain is a perfect combination between the two companies to bring clean, safe, and fresh products daily in combination with dedicated service to consumers.”
|Shiomi Keigo, President and CEO of Sumitomo Corporation Asia and Oceania, delivers a speech at the signing ceremony |
Vietnam’s retail market has developed strongly in recent years. The shift from the traditional retail model with small-scale stores to convenience stores and modern supermarkets has been recognised due to strong consumer awareness of hygiene and food safety changes.
In addition, the impact of the pandemic has forced consumers to pay more attention to their health by giving priority to fresh, delicious food with clear origins.
Under the agreement, BRG Group will work with Sumitomo to develop and expand the FujiMart chain with between 5-10 stores annually from this year.
By 2028, the number of stores will reach 50 across the country. With this goal, the chain will serve more Vietnamese consumers by bringing each product to consumers complimented by Japanese service culture.
|BRG Group Chairwoman Nguyen Thi Nga delivers a speech at the signing ceremony |
Also at the ceremony, BRG Group chairwoman Nguyen Thi Nga said, “With our mission of creating the best value for the community, we are glad that FujiMart is becoming a friend of more and more families in Vietnam by offering them delicious, nutritious, and safe food."
In addition, both sides are working on a joint venture for smart city development in northern Hanoi with the total investment capital of $4.2 billion.
After more than three years, FujiMart has been thriving under a well-researched strategy to develop a quality supermarket chain to meet the increasing demand. Customers can visit and buy products on Le Duan, Hoang Cau, and Tay Son streets in Hanoi.
Apart from chains such as FujiMart and BRGMart, BRG Group has also focused on expanding its business in other sectors, including pharmaceuticals, jewellery, and fashion.