Vingroup has reported that its revenues more than doubled in Q1, with those for the retail segment increasing by more than 300%.
Retail posts highest growth
The Vietnamese conglomerate's interests range from real estate to education. However, it is the retail segment which has posted the highest growth in Q1, with revenue up 363% year-on-year to VND2.19 trillion (around USD97m).
Ambitious expansion plans
Vingroup said, in 2014, that it aims to become Vietnam's largest retailer. In the past two years it has opened 50 VinMart supermarkets and 750 VinMart+ convenience stores across the country. It also operates non-grocery formats and an e-commerce platform, and has been investing in retail properties with shopping centres for more than ten years.
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