Thai-invested MM Mega Market starts building 1st department store in Vietnam
MM Mega Market Vietnam, a supermarket chain under Thai conglomerates Berli Jucker (BJC) and Thai Charoen Corporation (TCC), has broken ground on its first department store in Vietnam, signalling a strong commitment to expanding its presence in the Southeast Asian nation.
The ground-breaking ceremony for MM Mega Market department store in Danang city, central Vietnam, November 8, 2024 . Photo by The Investor/Nguyen Tri.
The facility, costing nearly $20 million, spans 19,197 square meters on Nguyen Sinh Sac street in Lien Chieu district of the central city of Danang and incorporates recyclable and energy-saving materials.
It is also the first department store in Lien Chieu, which is home to 225,975 residents and tens of thousands of factory workers and specialists.
The MM Mega Market Danang is expected to come on stream in late 2025.
Speaking at the ground-breaking ceremony on Friday, Bruno Jousselin, managing director of MM Mega Market Vietnam, said the project marks a crucial milestone for the firm, reaffirming its commitment to expanding into Vietnam in a sustainable way.
MM Mega Market Vietnam is a strategic brand of BJC and TCC in Vietnam, with 21 supermarkets, seven warehouses, five logistics centers, two central distribution centers, and two warehouses for fresh products. The firm employs over 4,000 people and has over 2,000 suppliers across the country.
BJC is among the biggest suppliers of consumer services, packaging, healthcare, wholesale-retail in Vietnam with a total investment of $1.14 billion.
According to the Ministry of Industry and Trade, Vietnam's retail market was worth $142 billion in 2023 and is projected to increase to $350 billion by 2025.
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