Vietnam’s Mobile World launches fashion-watch retail model
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 per cent 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 per cent 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.”