WinCommerce accelerates store expansion, posts strong revenue growth in Dec

WinCommerce, the retail arm of Vietnam’s Masan Group, says it opened 161 new stores in December, lifting monthly revenue by nearly 19% as the company accelerated its nationwide expansion, particularly in rural areas.

The company’s latest disclosure shows WinMart+ accounted for the bulk of new openings, with 131 stores launched in rural areas and 28 in urban locations, while two large-format WinMart supermarkets were added during the month.

Alongside the expansion, December revenue rose 19% to more than VND3.56 trillion ($135.39 million).

Rural WinMart+ stores posted the strongest growth, with revenue jumping 48.8% to VND903 billion ($34.37 million).

Urban WinMart+ revenue rose 15.3% to VND969 billion, while WiN stores recorded an 11.2% increase to VND616 billion. Revenue from large-format WinMart supermarkets rose 5.4% to VND851 billion ($32.39 million).

WinCommerce said its aggressive rollout strategy has helped reinforce its leading position in Vietnam’s modern retail sector, strengthening its “home-field advantage” through scale and network density.

For the full year, WinCommerce opened 764 new stores, bringing its total store count to 4,592 - the highest number of annual openings since 2019.

Expansion was concentrated in northern and central Vietnam, with 409 new stores in the north and 341 in the central region, while 14 stores were added in the south.

Full-year 2025 revenue is estimated at about VND39 trillion ($1.48 billion), up 18.3% from a year earlier. Stores opened before and during 2023 that remain in operation continued to deliver steady growth, with sales rising 9% in 2025.

The retailer exceeded its original target of opening 400-700 new stores in 2025, while revenue growth also surpassed the company’s earlier guidance of 8-12%.

WinCommerce said newly opened stores made a positive contribution to profitability, with 90.3% of stores launched in 2025 surpassing store-level EBITDA (earnings before interest, taxes, depreciation, and amortization) breakeven.

WinCommerce is a core subsidiary of Masan Group, operating the WinMart supermarket chain and WinMart+ convenience stores across Vietnam.

The company focuses on modern retail and daily consumer needs, and is rapidly expanding in both urban and rural markets while using technology to improve operational efficiency and customer experience.