Mobile phone behemoth unveils 5-year diversification plan
Giant mobile phone retailer The Gioi Di Dong Joint Stock Company has announced plans to diversify into other retail segments in the next five years.
A The Gioi Di Dong shop in Vietnam. (Photo: vietstock.com.vn)HCM City (VNA) - Giant mobile phone retailer The Gioi Di Dong Joint Stock Company has announced plans to diversify into other retail segments in the next five years.
The Gioi Di Dong’s CEO Tran Kinh Doanh said to achieve the goal, the company, besides developing its mobile and electronic product chains thegioididong.com and ĐiệnmáyXanh, would also focus on its Bach Ho Xanh chain of mini marts.
Mobile World began to develop the minimart chain — which sells vegetables, fresh meat, fish, and others — in the last quarter of 2015, and it has more than 10 outlets in HCM City.
Doanh told the English-language daily Viet Nam News that in 2016 the focus would be on developing the brand and not expansion.
The business is expected to break even in 2017, he said.
In 2016-20, The Gioi Di Dong plans to enter foreign markets by starting operations in neighbouring countries including Laos, Cambodia, and Myanmar.
Human resources have been trained well for this new venture and the company is ready, Doanh emphasised.
Another goal the company has set for itself in the next five years is becoming a leader in e-commerce, but it has not divulged details yet.
On January 20, The Gioi Di Dong reported that its 2015 revenues for the first time exceeded 1 billion USD.
Both revenues and profit overshot the target by 20 percent.
In 2016, the company targets revenues of over 34 trillion VND (1.5 billion USD) and profit after tax of over 1.4 trillion VND (64 million USD).-VNA
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