Vietnam Diary Products (Vinamilk) and FPT Retail, a subsidiary of FPT Group Vietnam, have announced a partnership with the hope of capitalizing on each other’s customer bases. Last Tuesday, the two Vietnamese firms established a joint agreement on a pilot program at two FPT outlets in Saigon, reports Nikkei Asian Review.
If things go according to plan, customers will soon be able to buy dairy products while browsing for electronics at FPT stores. The trial run will last for six months before being applied to all locations nationwide.
"This is an uncommon partnership," a spokesperson from Vinamilk admitted to Nikkei, "but we will try any possible way to reach consumers." They went on to say that through this partnership, the company wants to take advantage of FPT’s “good locations” throughout Vietnam. FPT also released a statement saying that it will be “a win-win partnership”.
An executive at a competing firm in the dairy market admitted that the plan is “wise” and will help Vinamilk reach out to a wider customer base through FPT’s strong brand.
Currently the electronics giant has more than 200 outlets nationwide, thus by cooperating with Vinamilk it could provide the dairy producer with insights on how to establish a retail network and maintain distribution channels. Vinamilk also plans to expand its network to include online shopping options, as well as 100 more physical stores next year, including some through this agreement with FPT.
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