New retail chains to be trialed from fourth quarter until sometime next year.
Vietnamese mobile phone retailer Mobile World (MWG) has recently announced a Board resolution approving the trial of new retail chains.
The company will expand its trading activities into fast-moving consumer goods (FMCG) and fresh food, with 30-50 trial stores on areas ranging from 150 to 400 sq m each.
The first stores will open in the fourth quarter of this year and MWG will wrap up the trial sometime in 2016. The budget to introduce the new chains will range from VND20 billion to VND50 billion (890,000 to $2.2 million).
Mobile World’s revenue in the first six months stood at VND10.86 trillion ($497.82 million), an increase of 157 per cent against the same period last year and achieving 46 per cent of the annual plan.
In the first half its Thegioididong.com electronics supermarket chain opened 87 stores and DienmayXanh.com eleven, bringing the total number of MWG outlets to 461.