Having confirmed its departure from Italy yesterday, Auchan Retail is also winding down its Vietnam business, with plans to quit the market “before summer”, according to media reports. Auchan operates 18 stores in the market that generate revenues of around EUR45 million a year. Auchan entered Vietnam in 2014 and has steadily built up its Simply Mart banner in major cities like Ho Chi Minh City and Hanoi without ever generating momentum in the market.

Source: Reuters