VinMart triples its revenue in Q2

Date : 04 August 2016

Vietnamese leading retailer VinMart, part of the conglomerate Vingroup, reports its revenue has grown 226% in the second quarter of this year.

Growth driven by store expansion

Vingroup reports in the Q2 consolidated financial statements that the sales of its retail arm VinMart has reached VND 2,465 billion (US$110.6 million), registering a 226% increase from the same period last year.

Since it opens its first store two years ago, VinMart has been growing significantly in Vietnam, thanks to its aggressive store expansion strategy. As of July 2016, the retailer has 50 supermarkets and 830 convenience stores nationwide.

Furthermore, it plans to open another 2,000 VinMart+ convenience stores every year and raise the total store number to 10,000 with additional 400 trade centres in the next three years.

Growth driven by store expansion

One of the key drivers for VinMart’s impressive performance is the group’s strategy to bring its convenience stores VinMart+ to “every corner of Vietnam”, making it a part of consumers’ daily shopping routines.

On average, VinMart opens 50 convenience stores every month. It also sees the opportunities in fresh produce. The Group has launched the production of greenhouse vegetables, powered by modern technology and it uses green brand VinEco to manage all the distributions.

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