Revenues of Parkson at present are generated as shown:
75% from China
20% from Malaysia
6% from Vietnam
Parkson Holdings' total revenue for FY 2008 ended June 30 was RM 2.35 billion.
RM 1.55 billion from China
RM 718.9 million from Malaysia
RM 80 million from Vietnam
The growth in China is impressive.
It is equally exciting in Vietnam too. While small compared with the operations in China and Malaysia, Vietnam's contribution has nearly doubled from RM 41.9 million in FY 2007.
Vietnam is the stepping stone for Parkson Holdings to capture the market in Indochina, consisting of Vietnam, Cambodia and Laos. Parkson plans to open its first store in Phnom Penh in 1H2011.
Whether Parkson's success in China can be repeated in Vietnam and greater Indochina will depend to a large extent on how it utilises its first-mover advantage to fend off competitors.
Vietnam: Total retail sales in the first 8 months of this year rose 18.4% y-o-y to US$41.67 billion (RM 141 billion), according to the country's General Statistics Office. The growth was recorded in a year that the global economy was in turmoil and the dong (the Vietnamese currency) devalued.
Ref: The Edge
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