Buyer of $1.36 million holding yet to be disclosed.
Vingroup has decided to sell 3.1 million shares worth VND31 billion ($1.36 million) and representing 31 per cent of charter capital in the Emigo Vietnam fashion brand.
A representative from Vingroup told VET that the sale of a portion of its shareholding in Emigo was part of its restructuring plan. The buyer has yet to be revealed.
After completing the sale Vingroup will reduce its holding to 39 per cent.
Emigo Vietnam was licensed in June 2014 and has showrooms in Hanoi, Ho Chi Minh City, and Quang Ninh province and ten stores, mostly located in Vincom Trade Centers, selling fashion clothing and accessories for both men and women.
In 2014 Vingroup decided to dominate the fashion industry, owning VinFashion (manufacturing fashion) and operating BFF (distributing international fashion).
Vingroup has also acquired 100 per cent of Vinatexmart, which owned 39 supermarkets selling garments in more than 19 cities and provinces nationwide.