Malaysian retailer Parkson closes second store in Hanoi

November 21, 2016 | 15:33

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The Vietnamese unit of Parkson, Malaysian conglomerate Lion Group’s largest department store chain, will officially close its second store in Hanoi after eight years of operation, citing unsatisfactory business results.

The store, which has been known as Parkson Viet Tower or Parkson Thai Ha, is located on Thai Ha street in Dong Da district of the city.

A few days ago, a notice was posted on the front door of the store announcing the official closing on December 15.

Parkson Hanoi Co., Ltd., the management company of Parkson Viet Tower, said that the move will not impact the operation of Parkson’s remaining stores in Vietnam. Customers will still enjoy the rights and benefits from their membership cards in the remaining stores.

At the time of closing, the Parkson store was barely seeing shoppers and visitors: there were only a few dozen people haunting the 11,000-square-metre mall.

The move marks the closing of the last store in Hanoi and the chain’s third store in Vietnam. In May, Parkson Paragon in Ho Chi Minh City was officially closed. The information was posted on Parkson’s website. The store, located on Nguyen Luong Bang Street in District 7, in the upscale Phu My Hung urban area, closed after five years of operation.

Earlier, in January 2015, Parkson Landmark 72 in Keangnam Landmark Tower 72 in Hanoi was also closed. The management company Parkson Hanoi Co., Ltd. wrote in a notice posted on the door that the store would only close till January 7 “to take inventory,” but it never opened again.

At the moment, Parkson still has seven stores in Vietnam. Five are located in Ho Chi Minh City, one in Haiphong, and one in Danang. Some of these stores also see tough competition from other retailers. For example, Parkson Saigon Tourist Plaza in District 1 of Ho Chi Minh City had a Vincom Shopping Mall built right next to it, while Parkson Flemington in District 11 is located right next to a Lotte Mart.

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