For ten years, Parkson of Malaysia enjoyed success and profitability in Vietnam. At its peak, it was operating nine stores and was one of the largest chains in the country. It now has only six stores and reported a loss of VND 24 bn in the first half of the 2017-2018 fiscal year. Parkson has been taking losses for the last six quarters. The last centre to close was in Hanoi in 2016. The company has now announced the closure of the centre in Flemington, Ho Chi Minh City. Since 2011, the business model has apparently become less popular than shopping malls which have multi-functional areas integrating distribution and entertainment services.