Vietnamese Mobile World-owned grocery chain Bach Hoa Xanh has signed an agreement with dairy company FrieslandCampina to open 1000 more stores next year.
“We are ready to open up to 1000 stores next year, double the number of existing stores to 2000. The partnership with FrieslandCampina is certainly a precedent for larger cooperation in the future,” said Doanh Tran, general director of Bach Hoa Xanh.
Although a newcomer to the minimarket sector, Bach Hoa Xanh has witnessed a rapid growth within a short period.
The average revenue per store reached more than VND1.5 billion (US$65,000) monthly. Local business media report that the new chain’s revenue is predicted to reach the same amount as Mobile World’s other chains Thegioididong.com and electronics retailer Dien May Xanh combined.
CEO of FrieslandCampina, Hein Schumacher, said: “We are very impressed by the recent growth of the Bach Hoa Xanh and consider the chain as our important strategic partner. This partnership will strengthen the Bach Hoa Xanh ability to expand significantly next year.”
The revenue of FrieslandCampina Vietnam at Bach Hoa Xanh has tripled in just one year.