HomePro cancels plans for Vietnam

The Thai DIY chain HomePro is abandoning its goal of setting up stores in Vietnam. The company has dissolved its wholly-owned subsidiary Home Product Centre Vietnam Company Limited, according to a statement. HomePro had already tested the Vietnamese market with an e-commerce channel and at the same time looked for potential locations for brick-and-mortar shops in the country. The company has now decided that further expansion in the form of brick-and-mortar stores is not feasible in the current investment climate. An impairment loss of THB 21 mio (Thai Baht, EUR 550,000) was acknowledged.