Hanoi (VNA) – WinCommerce (WCM), Vietnam’s largest retailer under Masan Group, reported strong 2025 performance, with net revenue up 13.4% to 17.9 trillion VND (688 million USD) in the first half of 2025, beating its 8-12% growth target, driven by selective expansion and operational gains.
A turn toward growth
After years without profit since Masan’s 2019 acquisition from conglomerate Vingroup, WCM hit a turning point in 2025. Its June revenue reached 3.22 trillion VND, up 16% year-on-year. The retailer’s restructuring, optimised operations, and targeted expansion fueled the surge, with like-for-like (LFL) sales at existing WinMart and WinMart+ stores rising 6.9%, reflecting improved operations and customer engagement.
The retailer opened 318 new stores, meeting over 45% of its annual target of 400-700. Nearly 75% of these are WinMart+ outlets in rural areas, tapping rising demand for modern retail. Remarkably, all new stores opened this year have been profitable from the start, a rare feat in an industry where break-even points often take years to reach.
Efficiency through integration
Unlike rivals focusing on urban hubs, WCM targeted high-density rural areas, opening 161 stores in central Vietnam, over half of its new outlets.
Selective site choices and streamlined operations drove rapid profitability for new stores. The retailer’s success is bolstered by its integration within the Masan Group’s ecosystem, which spans production (Masan Consumer, Masan MEATLife), agriculture (WinEco), logistics (SUPRA), consumer finance (Techcombank), and technology (WiN). This interconnected network allows WCM to streamline its supply chain, enhance operational efficiency, and personalise customer experiences.
The WiN platform, in particular, leverages consumer data to track behavior and develop tailored products and services, making data analytics a linchpin of modern retail and giving WCM a competitive edge.
With a robust business model, advanced technology, and an integrated ecosystem, WCM is well-positioned to lead Vietnam’s retail modernisation, meeting the evolving needs of consumers nationwide while redefining the country’s shopping landscape./.
