Parkson has closed one of its Vietnam department stores.
Concessionaires inside the Parkson Landmark 72 centre in Hanoi were reportedly told to remove their stock by January 3 and the store has ceased trading.
According to Vietnamese media reports, Parkson cited poor sales in the centre for its demise.
“Since the store opened in 2011, Parkson Landmark’s performance has not a day been registered with any sales that could achieve our expectation and we also understand that your counter has also been suffering with huge losses since then,” the notice reportedly said. (The grammatical errors may be due to poor translation by the media).
The Parkson store opened in 2011 at a cost of $10 million. Parkson’s website says it has nine stores in Vietnam; there were two in Hanoi.
The closed store,located in the Keangnam Landmark Tower 72, has five floors with a total area of 35,600 sqm.
Source insideretail.asia