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Mobile World to push its food business

Released at: 13:12, 14/12/2015

Mobile World to push its food business

Greater focus to be placed on food outlets from next year.

by Tue Lam

Mobile World (MWG), the owner of the thegioidicong.com and dienmayxanh.com electronics supermarkets, will further promote its food business next year.

According to a representative from MWG, the retail food and consumer goods markets have huge potential because of growing demand among consumers. The company now owns four food stores, focusing on fresh food and essential food. “The four stores are still in the trial stage, giving customers the chance to experience the quality they provide,” the representative said.

Last week MWG released nearly 7 million shares, worth VND527 billion ($23.1 million), to 886 employees of the company and subsidiaries.

The employees must also meet the special conditions of the company, with no share transfers permitted in the first year and only 50 per cent in the following year. By the end of 2017 all employees are free to transfer their shares.

After the issuance the total number of MWG shares increased to 146.8 million, for charter capital of VND1.4 trillion ($61.6 million).

As at October MWG had recorded revenues of VND19.8 trillion ($871.2 million) this year, up 61 per cent year-on-year. The company now has 560 electronic retail stores nationwide and opens two new outlets every three days on average.

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