IFC considers investing $20 million in quasi-equity in GS25 Vietnam

If that occurs, the investment will be utilized to support the GS25 c-store chain's development in Vietnam during the following three years. 

The investment research procedure reportedly took place early this year and involved Son Kim Retail senior management being interviewed as well as the inspection of licenses and operating processes, yet the investment's full terms have not yet been made public.

Through a joint venture with Son Kim Retail, the South Korean convenience store chain entered Vietnam in 2017. GS Retail held a 30% share, and Son Kim held the remaining portion. 

By the end of this year, GS25 Vietnam hopes to have 260 stores, with the majority of them being in Ho Chi Minh City and surrounding regions. As of September, the company has roughly 130 outlets.

In recent years, the major cities have witnessed a sharp upswing in the complexity of the country's convenience store business.

According to data from Euromonitor, Vietnam has 1289 convenience shops in 2019 with US$103 billion in sales, up from just 565 in 2014. FamilyMart, Circle K, and B's Mart were the main competitors at the time, with market shares of 21.4%, 20.7%, and 9.6%, respectively.

Nguồn Inside Retail