WinCommerce, the retail arm of Masan Group, planned to open over 700 new WinMart stores and more than 20 WinMart supermarkets and hypermarkets in the remaining months of 2022.
Nguyen Van Quy, deputy general director of WinCommerce, said in the context that the Covid-19 pandemic has been put under control, and the country's strong economic recovery, WinCommerce is accelerating business expansion efforts after completing its change of the brand name and successfully restructuring its business.
WinCommerce is also focusing on developing a multi-utility business model and franchised stores, as this will be a trend of the retail sector in the coming time.
Multi-utility stores will offer optimal convenience to customers, while franchised stores are expected to make the WinMart brand more popular in the daily life of Vietnamese consumers.
In 2022, WinCommerce has strengthened connections with its suppliers and producers, and growing areas across the country to develop a closed supply chain to provide high-quality products to consumers in a fast manner with reasonable prices thanks to a reduction in intermediary costs.
The strategy is hoped to contribute to ensure that WinCommerce’s business performance will be stablised and further developed in the future.
So far this year, over 300 supermarkets and WinMart and WinMart stores have been put into operation nationwide.
Masan Group in late 2019 merged two Vingroup subsidiaries, VinCommerce and VinEco, into Masan Consumer to form The CrownX, a retail and consumer platform. Accordingly, Masan Group will take over the retail network’s operation, with Vingroup acting as its shareholder.
Following the acquisition, VinCommerce was renamed WinCommerce, followed by its retail chains including Winmart and Winmart+.