Following years of losses, Malaysian department-store operator Parkson is scaling back full-scale stores in Vietnam.
Subject to approval, Parkson Retail Asia will sell the Parkson TD Plaza Shopping Centre which anchors in the northern port city of Haiphong. The sale of this location would leave just one property remaining in downtown Ho Chi Minh City.
Parkson Vietnam will continue to operate and manage stores however they will cease to operate any Parkson brand department stores, instead leasing out the space to other retailers suggesting the strategy is to morph into a property manager.
