Vietnam’s Mobile World launches fashion-watch retail model
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Vietnamese smartphone retailer, The Gioi Di Dong (Mobile World), has discovered a thriving new business model: a fashion-watch retail concept.
The company offers a wide selection of watches from well-known fashion brands, including Michael Kors, Fossil and Casio. Watches are displayed along with other tech products in Mobile World’s outlets in a store-within-a-store concept.
Since launching the fashion-watch retail model earlier this year, Mobile World claims to have built its share to 15 percent of the country’s fashion-watch sales. Last month, it sold more than 50,000 timepieces across 100 outlets.
Doan Van Hieu Em, CEO of Mobile World Group, told Vietnam News he is planning to take his company’s share of the fashion-watch market to 50 percent next year, by opening stores in 500 of its 2000-strong network across the country. His target is to sell 3 million units.
“Mobile World’s sales capacity has even surpassed the suppliers’ expectations,” he said.
“We are trying to find watch manufacturers around the world, supplying exclusive goods in large quantities to meet the rapidly expanding demand in the near future.”
Questions & Answers
Q.What kind of products does Mobile World offer in its new retail concept?
What kind of products does Mobile World offer in its new retail concept?
Mobile World offers a wide selection of watches from well-known fashion brands such as Michael Kors, Fossil, and Casio. These watches are displayed alongside other tech products within the company's existing outlets, creating a store-within-a-store format.
Q.How much of the country's fashion-watch sales has Mobile World captured since launching its new model?
How much of the country's fashion-watch sales has Mobile World captured since launching its new model?
Since launching its fashion-watch retail model earlier this year, Mobile World claims to have successfully built its market share to 15 percent of the fashion-watch sales in the country. This indicates rapid growth in the sector.
Q.What is the company's target for fashion-watch sales next year?
What is the company's target for fashion-watch sales next year?
Mobile World aims to increase its share of the fashion-watch market to 50 percent next year. To achieve this, the company plans to expand the concept into 500 of its 2000-strong network of stores across the country, targeting sales of 3 million units.
Q.Why is Mobile World actively seeking new watch manufacturers globally?
Why is Mobile World actively seeking new watch manufacturers globally?
Mobile World is trying to find watch manufacturers around the world to supply exclusive goods in large quantities. This is necessary to meet the rapidly expanding demand for their fashion watches, as their current sales capacity has surpassed existing suppliers' expectations.
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