Chip Mong Aiming to Gain Retail and Shopping Mall Market Share

• 23 January 2019
• Local News
• 4379 Views

One of Cambodia’s leading conglomerates Chip Mong Group has announced their intention to capture retail and shopping mall market share with attractive business strategies during a 23 January press conference.

As the retail sector in the Kingdom grows, along with stronger competition in the market, Chip Mong Retail (CMR) and Chip Mong Land (CML), subsidiaries of Chip Mong Group, have teamed up to gain market share in the sector.

Mr Laurent Hamelet, Director for Merchandise and Marketing for CMR, said during the press conference on strategic partnership between the two companies, that the company will capture market share from the retail market by opening up more stores.

“You [CMR] need to open new stores; this is what’s going to happen from now for CMR,” said Mr Laurent, while announcing that the company will open more than 330 stores comprising of express, supermarket, and hypermarkets in the coming years.

Mr Michael Vong, Shopping Mall Director for CMR also pointed out that his company will differentiate its shopping malls from others across the Kingdom,citing that prime location is among its core advantages.

“The challenge for shopping malls is to have an effective tenant plan determined by the concept of the mall and location,” said Mr Michael Vong, “To compete effectively with the malls in Cambodia, Chip Mong has to segment the market into community malls and urban malls, all driven by the F&B, and entertainment features.”

“The development within the Chip Mong Land properties gives us that base of rich sustainable business for the medium and upper middle class shoppers,” Mr Michael emphases.

Agreeing with Mr Michael on this partnership, Mr Henry Leang, President of residential development firm Chip Mong Land, said this collaboration to integrate residential development and shopping mall together is to deliver the best for its customers.

“Chip Mong Land always selects good locations, in an urban area in Phnom Penh for each residential project,” he said, “we will make the area have greater potential and provides convenience for living”.

“Where ever there is Chip Mong Land, there is always Chip Mong Retail and Chip Mong Mall with it,” he said.

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