VinMart simultaneously changed its brand name to WinMart

WinCommerce said that from today until the end of the first quarter, all VinMart stores will change to WinMart.

This information has just been announced by WinCommerce on the afternoon of January 15. Mr. Truong Cong Thang, General Director of WinCommerce Company, said that since buying the above supermarket chain from VinGroup, Masan has successfully restructured and improved the operating efficiency of this chain. Therefore, this is the right time for this company to transform the entire brand.

In the near future, Mr. Thang said that WinCommerce will have more changes when the new model of mini-mall retail stores includes the integrated ecosystem of WinMart+, Techcombank, Phuc Long kiosk, Phano pharmacy and Reddi mobile network.

Previously, the renaming of VinMart to WinMart started in early June last year. At that time, a Vinmart+ store on Mai Chi Tho Street, Thu Duc City was the first to evaluate the pilot effectiveness before rolling it out like today.

The first WinMart system in Vinh. Photo: Royal Bank

After 7 quarters of being acquired by Masan, the third quarter of 2021 is the first quarter of WinCommerce that achieved positive net profit after tax.

The CrownX (the consolidated unit of VinCommerce and Masan Consumer), in the last 2 years also continuously recorded a double-digit increase in sales. Recently, this company was valued at $ 8.2 billion, higher than Masan’s $ 7.9 billion market capitalization.

Mr. Danny Le, CEO of Masan Group, said that the company plans to use the latest capital raising to invest in growth-promoting initiatives and share buybacks to increase ownership in The Company. CrownX. The company aims to IPO The CrownX on international stock exchanges in the period of 2023-2024.

In the first nine months of the year, The CrownX contributed nearly 64% of Masan’s total revenue, equivalent to VND 41,470 billion. This business recorded a gross profit of approximately VND 12,100 billion and EBITDA (profit before interest, tax and depreciation) of more than VND 4,770 billion.

The merger of VinMart supermarket chain into Masan started in December 2019. At that time, Vingroup announced to swap all shares in VinCommerce into The CrownX shares after the merger. Vingroup is a shareholder, while Masan holds control of The CrownX.

According to the content announced by the two parties, the policy with suppliers and customers will be maintained when merging. Employees working for this supermarket chain inherit the benefits available from Vingroup and enjoy additional benefits from Masan.

Thi Ha


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