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Top 10 largest retail companies in Vietnam

Top 10 largest retail companies in Vietnam

Monday 08, 08 2022
With annual revenue and profit reaching trillions of dong, Mobile World Joint Stock Company is considered as the largest retail company in Vietnam by VietnamCredit. Following are other giants such as Wincommerce, FPT Retail, Saigon Co.op…

retail companies

1. MOBILE WORLD JOINT STOCK COMPANY

Formerly known as Mobile World Company Limited (Mobile World Co. Ltd) established in 2004, Mobile World Joint Stock Company (MWG) was established under the Business Registration Certificate No. 0306731335 issued by the Department of Planning and Investment of Binh Duong province on 16/01/2009. The company is the largest retailer in Vietnam by size, revenue and profit.

The company has a network of nearly 4,000 stores nationwide. It operates retail chains thegioididong.com, Dien May Xanh, Bach Hoa Xanh. In addition, MWG also expands to foreign markets with a retail chain of mobile devices and electronics in Cambodia. In 2020, a new member of MWG, 4KFarm, was formed with the goal of providing consumers with safe food according to the 4-no standard (no pesticides, no preservatives, no growth agents, no genetically modified varieties).

In April, MWG’s retail system of phones, electronics, department stores and pharmaceuticals recorded VND 11,400 billion in net revenue, up 19% over the same period last year, equivalent to a net increase of more than VND 1,800 billion.

With the above revenue, for the first 4 months of the year, the company’s net revenue reached over VND 47,900 billion, up 18% over the same period and completing 34.2% of the whole year plan (expected to reach VND 140,000 billion).

According to a newly released report, in April, the online business segment brought MWG approximately VND 1,500 billion, up 178% over the same period and accounting for more than 13% of total revenue in the month.

Mobile World Joint Stock Company (MWG)

 

2. WINCOMMERCE GENERAL COMMERCIAL SERVICES JOINT STOCK COMPANY

Wincommerce General Commercial Services Joint Stock Company was formerly Vincommerce General Commercial Services Joint Stock Company - a member company of VinGroup, owning a system of VinMart Supermarkets, VinMart+ mini markets, VinPro Electronics Center, VinPro+ Technology Store, Adayroi E-commerce Hypermarket, chain of retail stores according to international standards (Beautyzone, Sportsworld, Shoecenter, Fashion Megastore, Index Living Mall) .

The company was renamed after Masan Group had acquired the retail segment from Vingroup.

After the acquisition, Masan has successfully restructured, improved operational efficiency, pioneered the launch of a mini-mall retail model to meet a variety of essential needs of consumers with an integrated ecosystem including WinMart+, Techcombank, Phuc Long kiosk, Phano pharmacy and Reddi mobile network.

The third quarter of 2021 marked the first time that WinCommerce had achieved positive net profit after tax, after 7 quarters of being acquired by Masan.

In the business results report for the first quarter of 2022, Masan Group announced that the WinCommerce retail chain achieved net revenue of VND 7,297 billion, which is almost flat compared to the same period in 2021. Compared to the first quarter of 2021, Masan's retail system has added nearly 500 stores. Thus, the average sales at each point of sale of WinCommerce decreased over the same period.

Wincommerce General Commercial Services Joint Stock Company

 

3. FPT DIGITAL RETAIL JOINT STOCK COMPANY

FPT Digital Retail Joint Stock Company (FPT Retail) was established in 2012. It is an affiliate company of FPT Corporation, owning 2 retail chains including FPT Shop and F.Studio By FPT and a subsidiary company, FPT Long Chau Pharmaceutical Joint Stock Company.

FPT Shop is a retail chain of mobile digital products including mobile phones, tablets, laptops, accessories and technology services. FPT Shop is the first retail system in Vietnam that was granted the ISO 9001:2000 certificate of quality management according to international standards. Currently, FPT Shop is the second largest retail chain in the retail market of technological products.

F.Studio By FPT system is Apple's official authorized store chain in Vietnam at the highest level, specializing in selling genuine Apple products. FPT Retail is the first company to have a retail chain with Apple's standard store model, including: AAR (Apple Authorized Reseller) and iCorner.

FPT Long Chau Pharmaceutical Joint Stock Company owns a chain of Long Chau pharmacies specializing in trading in genuine pharmaceuticals, medical instruments, and functional foods under the FPT Retail system.

In 2021, FPT Retail recorded consolidated revenue of VND 22,495 billion, up 53% over the same period in 2020 and 1.4 times higher than the revenue plan for 2021. Consolidated pre-tax profit reached VND 554 billion, 19.5 times higher than 2020 and 4.6 times higher than the profit plan in 2021.

FPT Digital Retail Joint Stock Company (FPT Retail)

Thus, in 2021, FRT achieved extraordinary business results. In 2019 and 2020, the company only completed 51% and 14% of the year's profit plan, respectively.

As of December 31, 2021, FRT's total assets reached VND 10,786 billion, double the same period last year. In which, the strongest increase was in inventory, increasing by 2.7 times the previous year. Cash and cash equivalents also increased by 57.6%, short-term financial investments increased by 2.3 times, and short-term receivables increased by 24.6%.

4. SAIGON UNION OF TRADING CO-OPERATIVES

Saigon Union of Trading Co-operatives (Saigon Co.op) was formerly known as the Management Board of the City Trading Cooperative. In 1989, the People's Committee of Ho Chi Minh City had a policy of transforming it into a Union of Cooperatives for Buying and Selling as a cooperative economic organization on the principle of establishing collective ownership, autonomous production and business activities and self-responsibility. In 1998, the Union changed its name to Ho Chi Minh City Union of Trade Cooperatives.

Over 30 years of development, Saigon Co.op has succeeded in building a typical cooperative brand of national and regional stature. In addition to the Co.opmart chain, Saigon Co.op also develops a series of modern retail models such as Co.op Food grocery stores, HTVCo.op television shopping channels, Co.opXtra hypermarkets, and Sense City shopping malls, modern department store Co.op Smiles, convenience stores Cheers.

Up to now, Saigon Co.op has had nearly 1,000 points of sale nationwide. This is the retailer with the most business models in Vietnam, from supermarkets, hypermarkets, trade centers to convenience stores, grocery stores; From point of sale to online business.

Saigon Union of Trading Co-operatives (Saigon Co.op)

In 2021, under the impact of the epidemic and the prolonged social distancing, many businesses had to stop operating, resulting in a decrease in people's income, thereby changing people’s shopping behavior and consumption habits. Vietnam's retail industry was also hit hard when it dropped to 3.8% over the same period, the lowest level since 2015.

Under such difficult conditions, by the end of 2021, Saigon Co.op only achieved sales of VND 30,671 billion, down 7.8% compared to 2020. Network development was also greatly affected by the epidemic, with only nearly 40 new points of sale added, including Co.opmart, Co.op Food, Co.op Smile, Cheers and Finelife.

5. THANH LE CORPORATION

Thanh Le Corporation (TLP), formerly known as Thanh Le Lacquerware State-owned Enterprise, was established in 1991. The company operates under the model of parent – subsidiary company with 6 subsidiaries and 3 branches.

TLP is currently the focal point for importing and exporting gasoline in Vietnam, playing an important role in the field of supplying petroleum to Binh Duong province and neighboring provinces. Its advantage is the diversity of products and services provided to the market. TLP’s storage system currently has a capacity of 35 million liters of petroleum.

In the third quarter of 2021, TLP recorded a net revenue of VND 1,689 billion, down 12% over the same period. Due to a slower decline in cost of goods (7%), gross profit shrank to 66%, bringing in VND 49 billion.

Thanh Le Corporation (TLP)

Although there was a significant reduction in financial expenses, interest expense, selling expenses, and general and administrative expenses, TLP still had a net loss of VND 8.1 billion. Meanwhile, in the same period, the company's profit was VND 17 billion.

As of September 30, 2021, TLP's total assets reached VND 7,652 billion, an increase of VND 122 billion compared to the beginning of the year.

6. MEDIAMART VIET NAM CORPORATION

MediaMart Vietnam Corporation, which owns a chain of more than 200 electronics supermarkets nationwide, is currently the largest distributor and retailer of electronics and technology in the North. Having operated since 2008, MediaMart has been a retail system with a fast growth rate.

MediaMart Vietnam Corporation

In 2021, this business recorded a revenue of VND 8,592 billion, equivalent to 2020. However, profit after tax witnessed a sudden growth, reaching VND 56 billion compared to VND 21 billion in 2020.

7. AEON VIETNAM COMPANY LIMITED

As a part of Japan's leading retail group with a history spanning more than 260 years, in Vietnam, AEON Vietnam Co., Ltd (founded in 2011) is currently investing and trading in many retail fields such as developing and operating shopping centers, general department stores and supermarkets, specialized store chains, and e-commerce.

Starting with AEON Tan Phu Celadon shopping center in early 2014, by early 2021, AEON Vietnam had operated 03 shopping centers, 03 general department stores & supermarkets, 29 specialized stores, 02 small and medium supermarkets AEON MaxValu, e-commerce site AEON Eshop.

AEON Vietnam Co., Ltd

The company provides the model of "one-destination" shopping center, fully meeting all needs of customers, from shopping, dining to entertainment and education, finance and banking.

AEON Vietnam plans to open more shopping centers in the next 10 years to meet the increasing demands of customers in Vietnam, especially in the retail business.

8. LOTTE VIETNAM SHOPPING JOINT STOCK COMPANY

Lotte Vietnam Shopping Joint Stock Company was established and put into operation in Vietnam in 2008.

So far, LOTTE Mart Trade Center has been present in 4 Asian countries including Korea, China, Indonesia and Vietnam, with 243 trade centers built in modern style, in accordance with the tastes and shopping needs of local consumers.

Lotte Vietnam Shopping Joint Stock Company

In Vietnam, LOTTE Mart has opened 14 trade centers, located in the central spots of Ho Chi Minh City, Dong Nai, Da Nang, Phan Thiet, Binh Duong, and Hanoi. Since entering the Vietnamese market in 2008, LOTTE Mart has always risen with the goal of satisfying the needs of customers.

9. FAHASA CORP

FAHASA Corp was established in 1976. After many transformations, in 2006 the book publishing company of Ho Chi Minh City completed equitization, officially changed its name to the current one and operated as a joint stock company.

With the main business lines of retailing books, stationery, school supplies, children's toys, and gifts, since 2005, FAHASA has successfully implemented a cross-cutting strategy of building and developing a system system of professional bookstores. By the end of 2019, FAHASA had 112 bookstores in 46 provinces and cities.

FAHASA Corp

FAHASA said that it will continue to maintain its position as the leading bookstore system in Vietnam and in the top 10 leading retailers in Vietnam.

The company has developed an e-commerce center www.fahasa.com with a huge amount of books and cultural products, helping customers to find products quickly and order easily.

10. CENTRAL RETAIL CORPORATION (VIETNAM) JOINT STOCK COMPANY

Central Retail Corporation (Vietnam) Joint Stock Company (CRV) is a prestigious retail and real estate corporation, established in Vietnam in July 2011.

The Group's business activities in Vietnam include retail services in many areas such as supermarkets, electronics, sporting goods, fashion, shopping mall development, hotels, and e-commerce with 17,000 employees and serving more than 175,000 customers every day.

Central Retail Corporation (Vietnam) Joint Stock Company (CRV)

Central Retail Vietnam owns a diversified retail brand portfolio and 268 stores and malls across the country with a total of 810,000 square meters of retail in 40 out of 63 provinces and cities.

The company owns Big C, GO! Vietnam with 37 supermarkets and hypermarkets across the country.  This has become one of the leading retailers of food and essential consumer goods in Vietnam, supplying more than 40,000 products, serving nearly 70 million customers every year.

Alice Hoang Thao – VietnamCredit

 

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