Chip Mong aims to dominate retail industry

Local conglomerate Chip Mong Group announced last week that it has invested $300 million on six retail outlets in Phnom Penh through its subsidiary Chip Mong Retail.

The group owns 11 subsidiaries operating in a plethora of industries, from construction and materials to consumer goods, and from F&B and hospitality to retail.

Its latest developments – Baktok Chip Mong Mall and Chip Mong Noro Mall –will soon be open to the public, the company announced on Friday during an industry event held in Phnom Penh.

Chip Mong Group chairman Leang Khun said Chip Mong Retail is capitalising on the growing incomes of Cambodians and in the rise of the middle class. The group aims to become the first choice for tenants looking for new and exciting retail space, he said.

“Our shopping malls have been carefully designed with lavish exterior and interior space to offer a range of options for rent as well as state-of-the-art security systems, large parking areas, and great convenience for shoppers,” he said.

Mr Khun said investments in retail space and shopping malls are on the rise in the Kingdom. “This means that business people have an ever wider choice when it comes to choosing a partner for their businesses,” he said.

Chip Mong Retail acting president Stephane Pierron said the company is building different types of retail spaces to give costumers more options. The group has community malls, shopping malls, and mix-used buildings. When it comes to modern retail formats, it boasts convenient stores, supermarkets, and e-commerce platforms, he said.

“These seek to meet the specific demands of Cambodia’s modern retail market and the needs of our customers,” he said.

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