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Bach hoa Xanh to have 1,000 HCMC stores this year

Released at: 14:22, 07/02/2018

Bach hoa Xanh to have 1,000 HCMC stores this year

Bach hoa Xanh at Kenh Tan Hoa, Binh Thanh district, HCM (Photo: Do Huong)

Top priority of Mobile World this year is to develop Bach hoa Xanh in southern city.

by Do Huong

The top priority of the Mobile World Investment JSC (MWG) this year is to develop the Bach hoa Xanh chain to about 1,000 stores in Ho Chi Minh City and expand in the Mekong Delta’s Tien Giang province to test the delivery process outside of its distribution center, according to MWG’s CEO Tran Kinh Doanh.

The company wants to turn the chain into a large, efficient business and see electronics revenue double that of electrical appliance revenue. “If this is successful, we will outstrip our revenue target for 2018,” Mr. Doanh said.

MWG posted total revenue of VND66.3 trillion ($2.92 billion) in 2017, representing year-on-year growth of 49 per cent and 105 per cent of the annual target of VND63.3 trillion ($2.78 billion).

After-tax profit was VND2.2 trillion ($96.8 billion), representing year-on-year growth of 40 per cent and 100 per cent of the annual target.

It opened 742 new stores during the year, including 121 thegioididong.com, 396 Dien may Xanh, and 235 Bach hoa Xanh stores.

It had 1,997 stores in total by the end of the year, including 1,072 thegioididong.com, 642 Dien may Xanh, and 283 Bach hoa Xanh stores.

Online revenue in 2017 reached VND5.7 trillion ($250.9 million), a year-on-year increase of 69 per cent and 86 per cent of the annual target.

Regarding Big Phone - its mobile retail chain in Cambodia - MWG opened eight out of ten expected stores during the year and became the largest mobile retailer in the country, with each store recording revenue of $100,000 a month.

MWG is also is in the process of completing the acquisition of the Phuc An Khang pharmaceutical chain and expects to open 100 stores in Ho Chi Minh City this year.

MWG also bought shares in electronics retailer Tran Anh, taking over its IT and accounting systems and sending key personnel to operate the retailer.

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