Parkson Flemington is the fourth Parkson shopping centre in Viet Nam and the second in HCM City to shut shop. — Photo vietnamfinance.vn Parkson, the retail arm of Malaysian conglomerate Lion Group, has closed Parkson Flemington in HCM City, after eight years of operation. The information was announced by its investor, Thuy Duong Trading and Real Estate One Member Limited Company – HCM City branch. Parkson Flemington is the fourth Parkson shopping centre in Viet Nam and the second in HCM City to shut shop. According to the retailer’s management board, the store had served a notice to its business partners on the plan to move out, and all had come to a mutual agreement. The closure will not affect the business of other department stores operating under Parkson in Viet Nam. Parkson card holders will continue to enjoy the privileges and benefits, which will be applicable to all Parkson stores, according to the company’s notice. Currently, Parkson has four stores in HCM City, including Parkson Le ThanhTon, Parkson CT Plaza, Parkson Cantavil and Parkson HungVuong. According to figures released by Parkson Retail Asia, Parkson continues to suffer losses in the country despite the closure of many of its prominent trade centres, including Parkson Keangnam in January 2015, Parkson Paragon in May 2016, Parkson Viet Tower in December 2016 and now, Parkson Flemington. Parkson suffered losses throughout 2017, and its turnover also went down. The retailer earned nearly VND500 billion (US$22 million) in revenue last year and suffered a loss… [Read full story]
The Vietnamese unit of Parkson, Malaysian conglomerateLion Group’s largest department store chain, will officially close itssecond store in Hanoi after eight years of operation, citingunsatisfactory business results. The store, which has been known as Parkson Viet Tower or Parkson ThaiHa, 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 VietTower, said that the move will not impact the operation of Parkson’sremaining stores in Vietnam. Customers…... [read more]
Parkson, the retail arm of Malaysian conglomerate Lion Group, yesterday officially closed Parkson Paragon in Ho Chi Minh City, adding one more to the list of closed Parkson shopping centres in Vietnam. The information was posted on Parkson’s website parkson.com.vn. The store, located on Nguyen Luong Bang street in District 7 of the city, in the upscale Phu My Hung urban area, closed after five years of operation. The building Saigon Paragon where Parkson Paragon was located has area of 19,000 square metres of trade area, 4,000 square metres for entertainment, 15,000 square metres of office for lease and 3,000…... [read more]
Parkson has just closed its second store in Ho Chi Minh City following losses. Parkson Flemington stopped operation in late January Parkson Flemington, located in District 11, stopped operation in late January, Thuy Duong Co., which operates the brand in Vietnam, said in an announcement on Monday. According to the company, its business remains normal at the six remaining Parkson stores in Vietnam, where customers can still enjoy benefits from their membership. At Parkson Flemington, traders were seen moving their booths. Some said they will move to Parkson Hung Vuong to continue their business. This is the fourth Parkson stores…... [read more]
Malaysian department store operator Parkson has closed another outlet in Ho Chi Minh City, making a total of four closed locations in Vietnam. Parkson Flemington, located in District 11, ceased service in late January, Thuy Duong Co., which operates the brand in Vietnam, said in an announcement on Monday. All business partners at the outlet had been notified of, and agreed upon, the shutdown, according to Thuy Duong Co. The company asserted that its business remains normal at the six remaining Parkson stores in Vietnam, where customers can still enjoy benefits from their membership. In January 2015, the Malaysian…... [read more]
VietNamNet Bridge - After closing some of its department stores in Hanoi within a two-year period, Parkson, a retail giant from Malaysia, has officially decided to leave the capital. In early 2015, Parkson closed Parkson Keangnam Hanoi Landmark. The closure produced a big stir as the owners of the shops were asked to move at night. In May 2016, Parkson shut down Parkson Paragon in Phu My Hung Urban Area in district 7 in HCM City. Located outside the central area of the city, Parkson Paragon was prominent in Phu My Hung new urban area, on Nguyen Luong Bang street,…... [read more]
