Mobile World crossing borders
As well as electronics and mobile phones, its usual products, Vietnamese chain Mobile World is planning to distribute groceries in its first stores in Cambodia, Laos and Myanmar.
CEO Tran Kinh Doanh says the stores will open early next year.
Meanwhile, he has revealed two goals – to become one of the biggest eCommerce firms in Vietnam, and to bring in revenue of about VND34,000 billion (US$1.51 billion) this year. This would provide an after-tax profit of VND1400 billion – up VND400 billion on the past financial year.
With 70 stores and a distribution network covering 42 provinces and cities, Mobile World last year earned VND25,000 billion, giving an after-tax profit of VND1000 billion. Both revenue and profit grew by 60 to 70 per cent. Online sales contributed less than 10 per cent of total revenue.
Mobile World opened more than 200 cellphone stores last year, taking its total to 550, and this year it plans to expand its network to all 63 provinces and cities in Vietnam to become the second-largest electronic and mobile phone retail chain in the nation.
It decision to join the food market with 13 stores was announced late last year. The corporation has 17,000 employees, expecting to grow this to about 26,000 people.