Top mobile retailer to open food store chain: reports
Mobile World Investment Corporation, Vietnam’s biggest mobile-phone retailer, has announced a plan to open 30-50 convenience stores in the last quarter, local media reported.
The company said it would invest between VND20 billion and VND50 billion in this year-long "trial" phase.
Dang Thanh Phong, spokesman of the company, better known as The Gioi Di Dong, told news website Saigon Times Online that the first five stores will be launched at several districts in Ho Chi Minh City this October.
Each store will cover an area of 150-400 square meters and sell products like meat, fish, vegetables and fruits from 6 a.m. to 9 p.m., he said, adding that the company has yet to come up with the chain's name.
CEO Tran Kinh Doanh was quoted as saying in news website Zing.vn that its chain will target customers of groceries and traditional markets.
He said the company expects to open 6,000-8,000 stores by 2020, taking up 10-15% of market share.
With more than 450 stores selling cell phones, tablets, laptops and their accessories around the country, The Gioi Di Dong owns 30% share of mobile market, followed by IT giant FPT's chain FPT Shop with 10%.
The company reported the revenues of VND12.92 trillion (US$566.26 million) over the first seven months, up 158% year on year.
It also owns a chain of 37 electronic stores known as Dien May Xanh.