Vietnam Management Channel

Parkson plans to renovate Saigon Tourist Plaza

Parkson Vietnam, the manager of department stores in Ho Chi Minh City, Da Nang and Hai Phong has announced that it will begin the renovation of its Parkson Saigon Tourist Plaza in HCMC’s District 1 starting this month and that the renovated department store will provide a new and different shopping experience for shoppers. Parkson management said that construction and renovation will be implemented on a floor-by-floor basis, under a schedule that corresponds to designated zones. Parkson said that all key business partners have agreed to the renovation plan and schedules and that during renovations, various zones of the shopping center will remain open.

Parkson’s was one of the first international department stores in Vietnam and has been well known for having a variety of international beauty and fashion brands available to its customers. Malaysia’s Lion Group owns Parkson’s and opened the Parkson Saigon Tourist Plaza in 2005.

At its peak, there were ten Parkson stores in Vietnam, but due to intense competition from both brands and new department stores opening across the country, it has suffered huge financial losses, which have caused it to close stores in Hanoi and Ho Chi Minh City.

The company believes that by adapting to market trends of new consumers and through the renovation of its stores that it can reposition its brand and provide a new shopping experience with modern facilities and high-standard services that will appeal to both domestic and international shoppers.

The renovated store will have a new design and concept that will follow current department store trends to be an all-in-one destination that offers shopping, food & beverage, and entertainment services. The store will also showcase well-known brands in beauty, fashion and lifestyle categories, and will be the flagship store for a global fashion brand and a prestigious lifestyle brand, both of which will be introduced into the Vietnam market for the first time.