Mobile World Investment Joint Stock Company (MWG) has just shared the new direction of this business in 2018. Notably, The Gioi Di Dong will focus on promoting the Bach Hoa Xanh supermarket system.
The above information was shared by Mr. Nguyen Duc Tai, Chairman of Mobile World, at the Annual General Meeting of Shareholders today.
Accordingly, MWG submitted its 2018 plan with revenue target of 86,390 billion dong, expected to increase 30% compared to 2017, profit after tax was 2,603 billion dong, up 18%.
By the end of January 2018, MWG had 1,071 Gioi Di Dong stores, 668 Dien May Xanh stores, 316 Bach Hoa Xanh stores, 35 Tran Anh stores and 4 BigPhone stores in Cambodia.
Notably, MWG said that in the coming time, it will suspend the expansion of The Gioi Di Dong and Dien May Xanh supermarkets, and instead will focus its resources on promoting the Bach Hoa Xanh supermarket system in HCMC with the target of up to 500 supermarkets (by the end of quarter 2/2018).
Regarding the “pumping” of 3,000 billion VND to Bach Hoa Xanh, Mr. Nguyen Duc Tai said that the legal capital of Bach Hoa Xanh is about 600 billion VND, depending on the construction progress that the company will spend accordingly. Currently, Bach Hoa Xanh model is to buy from the supplier to the distribution center and then move to the store.
Previously, MWG once shared the Gioi Di Dong retail chain with revenue of only 3,182 billion dong in January this year, down 11% year on year. The drop in Gioi Di Dong revenue shows that the mobile phone market has reached saturation level, the likelihood of growth is no longer as high as before.
* Source: Youth