UK retailers eyeing local market
November 21, 2008 - Vietnam
In a bid to create a favourable environment for investors, Vietnamese Government will open its doors for foreign investors, said President Nguyen Minh Triet during his reception at the Asia Business Council (ABC).
A delegation of five leading retailers from UK including Debenhams
, Marks & Spencer
, Boots International and BHS is presently visiting Vietnam in a bid to penetrate the local market that will be fully open to foreign investors since 1st January 2009 following a description in WTO entry.
These groups will study the local market as well as find out the suitable partners at the local market to set up their network.
While giving a speech at a seminar titled ‘Exchanging experience and cooperation opportunities with UK’s leading retailers’ hosted in Ho Chi Minh city recently, Mr Simon Brown, Head of international sales and marketing, Woolworths revealed that it plans to sell its kids fashion products under brand Ladybird in Vietnamese market in 2009.
"Woolworths will open its shops at both economic centers of Vietnam, including Hanoi and Ho Chi Minh City to sell Ladybird fashion products", said Mr Brown.
He confidently said that they will gain success with Ladybird products in Vietnam because they have been very successful with over 800 shops across UK as well as at Asian countries like China and Malaysia.
Earlier this year, Management Consulting Firm A T Kearney has ranked Vietnam as the most attractive market for retail investment.