Vietnam’s di động World saw a 43 per cent jump in revenue in the first five months of this year.

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The mobile device và consumer electronics retailer posted net sales of VND37 trillion (US$1.61 billion) và an after-tax profit of $55.8 million, 44 per cent up year-on-year.

Of its divisions, electronic retail arm Dien May Xanh accounted for 56 per cent, mobile phone retail chain The Gioi Di Dong 41 per cent, & its fledgling grocery chain Bach Hoa Xanh 3 per cent.

According to di động World’s CEO Tran kinh Doanh, the company plans lớn expand Bach Hoa Xanh lớn 1000 stores in Ho đưa ra Minh City, và more in other provinces.

The Gioi Di Dong chain has scaled down its network khổng lồ 500 stores this year after closing six stores.

Electronics

Vietnam’s The Gioi Di Dong closed stores

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Despite revenue growth, Vietnam retailer điện thoại World has shuttered six The Gioi Di Dong stores.

It closed the outlets last month following one earlier closure with a plan to maintain 1065 stores nationwide. The company says it has decided not lớn expand its store network to focus on revenue growth, but with the closing spree revenue for The Gioi Di Dong last month dropped 5 per cent from a year earlier khổng lồ US$126.85 million.

Now The Gioi Di Dong looks mix to xuất hiện only 500 locations by the end of this year instead of the previous goal of 1000 stores, according khổng lồ chairman Nguyen Duc Tai.

Mobile World is also struggling with its grocery business, Bach Hoa Xanh, which has added only 3 per cent to the company’s profit.

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In the first quarter of this year, revenue reached $1.31 billion, up 43 per cent year on year, lớn produce profit of $45.94 million, up 44 per cent.

Electronics

Vietnamese retailers look to lớn foreign retail markets

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In late June, The Gioi Di Dong JSC, which owns the largest mobile phone distribution chain in Vietnam, opened its first cửa hàng in Phnom Penh, Cambodia. The siêu thị in Cambodia is named BigPhone, but it has a brand identity lượt thích The Gioi Di Dong shops in Vietnam.

The Gioi Di Dong hopes it can earn $100,000 a month from the first shop, và plans to mở cửa 10-15 shops in Cambodia this year.

A senior executive of Pico, a home appliance distribution chain, in early 2016 told the press that the chain was considering penetrating markets like Myanmar, Laos and Cambodia. Of the neighboring markets, Myanmar is the first choice because of favorable conditions of the market: it is easy to lớn find retail premises, và there is less competition.

Nguyen Ngoc Hoa, when he was chair of Saigon Co-op, affirmed the importance of foreign markets for Saigon Co-op, saying that the retail chain targets Laos & Cambodia for its plan khổng lồ expand the network.

“The most important thing in implementing the expansion plan is that Saigon Co-op find reliable partners in doing business overseas,” he said.

A senior executive of Pico said he can see that there would be both economic & non-economic barriers in the Cambodia and Myanmar markets. He said it would take time khổng lồ learn about the consumption habits, local culture, the laws & economic factors of the target markets.

Ho Viet Dong, CEO of The Gioi Di Dong in Cambodia, said though the retail chain has good relations with điện thoại phone manufacturers, it still faces difficulties in doing business in Cambodia.

“The sản phẩm điện thoại phone market here is very complicated,” he said. “Besides, the training of the labor force for long-term business plan also needs consideration.”

Meanwhile, according to Saigon Co-op’s CEO Nguyen Thanh Nhan, the plan to xuất hiện a supermarket in Cambodia has been delayed because of the change of the Cambodian partner.