The Mobile World JSC (HSX: MWG) signed an arrangement on November 15 in Ho Chi Minh City with Mathey-Tissot, a longstanding Swiss watchmaker, that complements the diverse array of timepieces available for Vietnamese customers.

The signing was attended by Mr. Alberto, Global CEO of Mathey-Tissot. The two sides were confident they will achieve outstanding growth as soon as the agreement comes into being.

Though in Vietnam market for some time already, Mathey-Tissot has not achieved anticipated revenue because as it has lacked a strong distributor. Realizing that Mobile World is a leading retail chain with high accessibility and impressive sales, Mathey-Tissot decided to partner with it to grow the revenue of both.

Mathey-Tissot watches will be on shelves at MWG stores from November 25, promising to give customers a variety of choices and quality at attractive prices. Mathey-Tissot is a completely different brand from other watch brand Tissot.

“We are very impressed with the growth of MWG in watches and believe in the success of Mathey-Tissot through the MWG system,” Mr. Alberto said at the signing ceremony.

“Mathey-Tissot is a prestigious and quality watch brand with luxurious designs and we expect its watches to become more widely accessible in Vietnam and are confident we can do this better than anyone else,” said Mr. Doan Van Hieu Em, CEO of Mobile World.

Possessing advantages from its more than 1,900 stores in all 63 cities and provinces in Vietnam, of which more than 200 sell watches and are expanding sales rapidly, Mobile World seems certain to help the watchmaker post “unprecedented” growth.

According to figures released in October, the retailer sold more than 75,500 watches, including fashion watches (56,500) and smart watches (19,000); an eleven-fold increase compared to 6,700 in March. The retailer now holds 20 per cent of the market in genuine watches just eight months after sales were launched.

It is expected that, by the end of this year, Mobile World will have a total of 200 outlets selling watches, with a sales target of more than 130,000 per month, an increase of 81 per cent compared to the present.

The retailer is targeting 500 stores selling watches by June 2020, with 3 million watches sold each year, and for it to hold a market share of 50 per cent.