Vingroup eyes stake in mobile device retailer Vien Thong A
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VinPro, the electronics retail arm of Vietnamese conglomerate Vingroup, may invest in mobile device retailer Vien Thong A.
However, Vien Thong A GM Hoang Ngoc Vy has denied the media reports, before enigmatically adding that further information would be forthcoming.
VinPro was launched in March 2015 as part of the property giant’s foray into the nation’s US$4.5-billion electronics retail market. It has two brands: VinPro for big stores in Vincom Retail’s shopping malls, and VinPro+ for smaller stores.
Established in November 1997, Vien Thong A has nearly 200 stores across Vietnam and 100 warranty centres.
Vietnam’s electronic and electrical appliances market is expected to expand by 11.9 per cent by 2020, according to Boston Consulting Group and consumer information company GFK Vietnam.
Meanwhile, the market is dominated by FPT Retail and Mobile World, which has just acquired about 95 per cent of Hanoi-based Tran Anh Digital World. Earlier, Thailand’s Central Group bought a 49 per cent stake in electronics retailer Nguyen Kim Trading.
Questions & Answers
Q.What is the current stance of Vien Thong A's General Manager regarding the potential investment from VinPro?
What is the current stance of Vien Thong A's General Manager regarding the potential investment from VinPro?
Hoang Ngoc Vy, the GM of Vien Thong A, has denied the media reports about VinPro's investment. However, he added that more information would be provided at a later time.
Q.When was VinPro established and what are its different store formats?
When was VinPro established and what are its different store formats?
VinPro was launched in March 2015. It operates two brands: VinPro for larger stores located in Vincom Retail's shopping malls, and VinPro+ for smaller store formats.
Q.How large is the Vietnamese electronics retail market and what is its projected growth?
How large is the Vietnamese electronics retail market and what is its projected growth?
The Vietnamese electronics retail market is valued at US$4.5 billion. It is expected to expand by 11.9 per cent by 2020, according to industry reports.
Q.Which companies currently dominate the Vietnamese electronics retail market?
Which companies currently dominate the Vietnamese electronics retail market?
The market is dominated by FPT Retail and Mobile World. Mobile World recently acquired approximately 95 per cent of Hanoi-based retailer Tran Anh Digital World.
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