Mobile World Vietnam ousted from Big C
But in a report to shareholders, listed Mobile World Vietnam parent Mobile World Group said it “did not cause any significant impact on revenue growth of the group in August”.
Mobile World Vietnam had 880 stores across the country as at August. In the first eight months of this year, revenue is reached US$1.18 billion, increasing 78 per cent year-on-year. Net profit reached VND1.12 trillion, 74 per cent higher than the same period last year.
Mobile World’s ousting from Big C stores follow the chain’s acquisition by Thailand’s Central Group last April. Central has a controlling interest in local rival Nguyen Kim, which sells phones alongside appliances and consumer electronics.
Some Vietnam retail industry sources fear Central will replace Vietnamese retailers in Big C centres with Thai chains the company has an interest in, although in this case it appears to be a swap-out of local chains.
In May, Central increased its discounts on products sold at its supermarkets by up to 25 per cent, causing disquiet amongst rivals – and there are multiple reports of the company delisting Vietnamese-made products in favour of Thai products it can acquire more cheaply due to its huge buying power in Thailand.