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The expected dominance of foreign retailers in the Vietnamese market has not occurred. Many foreign giants have left and Vietnamese retailers are controlling the market.
In 2021, Masan achieved many outstanding results, including but not limited to revenue growth, profit growth, business model innovation, and retail expansion.
Top Vietnamese retailer Masan Group Corporation has spent an additional $110 million to increase its ownership in the local beverage chain Phuc Long Heritage Joint Stock Company from 20% to 51%.
Wincommerce General Commercial Services JSC, a subsidiary of Vietnam’s Masan Group Corp, has opened its first two WinMart+ franchised stores in Hanoi and Bac Giang. The opening marks the start of Masan Group’s plans to have 20,000 franchised stores and 10,000 of its own outlets to serve 30-50 million consumers by 2025.
One of the country’s top retailers aims to become a one-stop shop for customers by modifying more than 1,000 locations in 2022. | PetrolPlaza