Former Central Retail Vietnam CEO joins Masan Group

Vietnam’s leading retailer Masan Group (MSN) has appointed Philippe Jean Broianigo as deputy CEO of The CrownX, the entity managing its consumer and retail segments.

Philippe, former CEO of Central Retail Vietnam - a member of leading Thai retailer Central Retail and an expert in initial public offering (IPO), will work directly with business platforms to drive synergy, innovation, and transformation.

The CrownX is the parent company of Masan Consumer (MCH) - the producer of consumer goods, and WinCommerce - the modern retail chain consisting of WinMart supermarkets and Win stores. It also manages Phuc Long tea and coffee chain and the mobile network provider WinTel.

Philippe is known for his senior leadership roles in large retail and fast-moving consumer goods (FMCG) companies across Asia, including as CEO of DFI Indonesia and CEO of Central Retail Vietnam. Notably, he has also led mergers and acquisitions (M&As) and IPOs across both North and South Asia.

Philippe's recruitment comes at a time when Masan Consumer is preparing for an IPO on the Ho Chi Minh City Stock Exchange (HoSE). During an investor meeting in early February, the leadership announced plans to list MCH shares on the bourse this year, with exact timing depending on market conditions.

Last year, The CrownX generated over VND62.4 trillion ($2.44 billion) in revenue, an 8% increase compared to 2023. The company achieved EBITDA (earnings before interest, taxes, depreciation, and amortization) of nearly VND9.6 trillion ($376.1 million), an 18% year-on-year rise. The main contributors to these results were Masan Consumer and WinCommerce.

This year, Masan has set a target for its modern retail chain to reach net revenue of VND35.6-36.9 trillion ($1.45 billion), growing 8-14% year-on-year, and a positive net profit.

The strategy is to expand its store network and accelerate like-for-like (LFL) sales growth. The chain plans to speed up the opening of new stores, with 400-700 mini supermarkets expected to open in 2025.

For Masan Consumer, the goal is to achieve revenue growth of 10-15% in 2025, reaching VND33.5-35.5 trillion ($1.39 billion).