SAIGON UNION OF TRADING CO-OPERATIVES

SAIGON UNION OF TRADING CO-OPERATIVES (LIÊN HIỆP HỢP TÁC XÃ THƯƠNG MẠI TP. HỒ CHÍ MINH), widely known as Saigon Co.op, is a unique business model in Vietnam’s retail sector. Established on March 22, 1999, and registered with the Ho Chi Minh City Department of Planning and Investment, it operates as a cooperative organization and has grown into Vietnam’s largest retailer, managing a vast network of supermarkets, hypermarkets, convenience stores, and wholesale distribution centers. The company runs under Tax Identification Number (TIN) 0301175691 and has a workforce of 18,000 employees, making it a major employer in the country’s retail industry.

Led by Chairman Vu Anh Khoa, General Director Nguyen Anh Duc, and Deputy General Director Le Truong Son, SAIGON UNION OF TRADING CO-OPERATIVES maintains its headquarters in Binh Thanh District, Ho Chi Minh City, with branches in Hau Giang, Dong Thap, Bac Ninh, and other key provinces. The cooperative structure is 99.19% owned by accumulated capital from Saigon Co.op, with 0.8% contributed by 26 member cooperatives and 0.01% state-owned capital.

In 2023, total assets reached USD 823.46 million, marking a 2.2% increase from the previous year, while owner’s equity rose by 9.43% to USD 472.91 million, reflecting the cooperative’s strong financial foundation. Despite these gains, total sales declined by 6.59% to USD 685.64 million, signaling challenges in consumer spending and market competition. However, net profit grew by 8.83% to USD 40.76 million, indicating effective cost management and operational efficiency despite revenue contraction.

SAIGON UNION OF TRADING CO-OPERATIVES operates a multi-format retail model, including Co.opmart supermarkets, Co.opXtra hypermarkets, Co.op Food convenience stores, and Co.op Smile mini-marts, catering to diverse consumer segments. The company is also engaged in wholesale trade and supply chain management, ensuring efficient distribution and logistics for its extensive retail network.

The cooperative faces both significant opportunities and challenges. On one hand, Vietnam’s growing middle class, increasing urbanization, and shifting consumer preferences toward modern retail create a promising environment for expansion. On the other hand, rising competition from foreign retailers, changing market dynamics, and digital transformation pressures require strategic adaptation and innovation. Saigon Co.op’s ability to modernize its operations, expand e-commerce capabilities, and enhance customer experiences will be crucial in maintaining its market leadership.

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