Retail News CRM

Tag: VinPro

  • Vietnam’s Vingroup to complete retail exit by closing VinPro chain

    Vietnam’s Vingroup to complete retail exit by closing VinPro chain

    Vingroup is to complete its exit direct retail businesses, shutting down its electronic business VinPro within this month.

    The closure of Vinpro is considered a sudden decision as the group acquired electronics chain Vien Thong A last year with more than 200 stores to strengthen VinPro’s presence. Recently, Vien Thong A’s website and Facebook page changed branding identity to VinPro.

    “VinPro outlets have very good locations in the Vincom shopping centre system,” said Quang Viet Nguyen, CEO of Vingroup. “It will be very easy to rent these premises after VinPro stops operating, without affecting the operation of Vincom centres.”

    The company has also announced the merger of its e-commerce platform Adayroi with e-payment unit VinID. According to Quang, the merger is not because its e-commerce segment was under pressure of losses as the company’s first goal is to create a platform to support the Vingroup ecosystem.

    “Merging Adayroi with VinID not only helps store data about customer behaviour but also creates a new platform where customer needs are better predicted,” Quang said.

    Earlier this month, Vingroup announced an agreement with consumer products manufacturer Masan Group, to move its VinMart supermarket and convenience-store business into Masan in a new company in which Vingroup will hold a minority stake.

    The company has said it wants to focus on industrial and manufacturing business including its motor vehicle, television, tourism and smartphone businesses. It is also about to launch an airline.

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  • Vingroup to take over Vien Thong A

    Vingroup to take over Vien Thong A

    Vietnamese conglomerate Vingroup’s electronics retailing arm VinPro is set to acquire mobile retail chain Vien Thong A next month.

    A source said that staff have been informed about the deal, and a merger process has commenced.

    However, Vien Thong A’s vice GM Huynh Viet Anh responded to a question about the report’s accuracy: “That can not be disclosed now.”

    Vien Thong A is one of the largest mobile device retailers in Vietnam. Founded in 1997, tit has 200 stores across the country.

    The deal is said to have been on and off since early this year, before being deferred to the second quarter. According to the report, VinPro, which has 35 outlets nationwide, would buy 71 per cent of Vien Thong A, and rebrand its stores to VinPro+.

    VinGroup, meanwhile, recently unveiled its first smartphone, branded the Vsmart.

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  • Vingroup eyes stake in mobile device retailer Vien Thong A

    Vingroup eyes stake in mobile device retailer Vien Thong A

    VinPro, the electronics retail arm of Vietnamese conglomerate Vingroup, may invest in mobile device retailer Vien Thong A.

    However, Vien Thong A GM Hoang Ngoc Vy has denied the media reports, before enigmatically adding that further information would be forthcoming.

    VinPro was launched in March 2015 as part of the property giant’s foray into the nation’s US$4.5-billion electronics retail market. It has two brands: VinPro for big stores in Vincom Retail’s shopping malls, and VinPro+ for smaller stores.

    Established in November 1997, Vien Thong A has nearly 200 stores across Vietnam and 100 warranty centres.

    Vietnam’s electronic and electrical appliances market is expected to expand by 11.9 per cent by 2020, according to Boston Consulting Group and consumer information company GFK Vietnam.

    Meanwhile, the market is dominated by FPT Retail and Mobile World, which has just acquired about 95 per cent of Hanoi-based Tran Anh Digital World. Earlier, Thailand’s Central Group bought a 49 per cent stake in electronics retailer Nguyen Kim Trading.

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  • Expansion brings some cash for VinMart

    Expansion brings some cash for VinMart

    Vietnamese supermarket chain VinMart has tripled its revenue in the second quarter of this year.

    Parent VinGroup says the group achieved VND2,465 billion (US$110.6 million) in sales of its supermarkets and convenience stores, a 226 per cent increase compared to the same period last year.

    One of the reasons for VinMart’s growth is the group’s strategy to bring its convenience stores VinMart+ to “every corner of Vietnam”, making it a part of consumers’ daily shopping routines.

    Up until July, after almost two years of operation, VinMart has 50 supermarkets and 830 convenience stores nationwide, which means the company has been opening three supermarkets a month and 46 c-stores.

    A standout of VinMart+ is the fresh food, distributed by green brand VinEco. The products are exclusive greenhouse vegetables, grown using Israeli technology.

    With this self-supply and self-control strategy, VinGroup has been creating a strong competitive strength in the market.

    Besides VinMart, its other divisions contributed to VinGroup’s profit in the quarter of VND 2,926 billion ($131.2 million): VinHomes, Vincom Retail, Vinpearl Land, Vinschool, Vinmec, and VinPro.

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  • Vingroup more than triples revenue to $98m

    Vingroup more than triples revenue to $98m

    Retail has proved the shining segment for Vietnamese conglomerate Vingroup, with revenue jumping 363 per cent year-on-year to VND2.19 trillion (US$98.3 million) for the first quarter.

    Vingroup has been investing in retail properties for more than a decade, and since announcing two years ago that it aims to become Vietnam’s largest retailer has opened 50 supermarkets under the VinMart brand and 750 convenience stores under VinMart+ brand.

    Its other retail businesses include Vincom shopping centres, VinFashion stores, VinPro electronics shops and Adayroi eCommerce platform.

    With interests also in education, health, entertainment and real estate, the group reports an after-tax profit of VND1.04 trillion – three times higher than the same period last year. Its revenues more than doubled to hit VND15.16 trillion.

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  • Vietnam mobile phone market heats up

    Vietnam mobile phone market heats up

    The Vietnam mobile phone market is heating up, with major retailers pushing smaller businesses to the wall as new branded stores open almost every week.

    With limited marketing budgets, smaller retailers, the traditional mainstay of the mobile phone business, are unable to complete, reports TalkVietnam.com.

    Mobile World, which has a 39 per cent market share with its 603 Thegioididong outlets nationwide, has unveiled a plan to open a further 400 stores.

    Other retailers such as FPT Shop, VienthongA and Viettel Store are also scrambling to open more shops. FPT has more than 250 outlets already, VienthongA has more than 200, and Viettel Store has more than 300.

    FPT and VienthongA aim to open 50 to 100 stores this year, and new player VinPro plans to double it 100 outlets this year.

    Meanwhile, small phone retailers are now focusing on selling top-up cards for mobile phones, accessories and used phones. Some also sell such products as portable speakers, Wi-Fi transmitters and sports cameras to stay solvent.

    Small mobile phone shops hold between 30 and 35 per cent of the market, but their share will shrink, says FPT Retail Digital general director Nguyen Bach Diep.

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