The first WinMart+ store opened its doors in Hanoi back in 2014. A decade later, this retail network has expanded its reach across numerous provinces and cities nationwide.
According to WinCommerce, the operator of the WinMart/WinMart+ system, the new stores offer essential consumer goods, including both domestic and imported products. Merchandise selection is tailored to meet the specific demands of local areas.
As of May, WinCommerce’s estimated net revenue for the entire system exceeded 3,000 billion VND, marking a nearly 18% increase compared to the same period last year. Notably, the WinMart+ model in rural areas demonstrated significant growth, with revenue reaching nearly 700 billion VND, an increase of over 36%. For the first five months of the year, the system’s net revenue reached approximately 14,700 billion VND, a nearly 13% surge from the previous year.
Previously, at the Masan Shareholders’ Meeting, WinCommerce CEO Nguyen Thi Phuong shared: “Five years ago, when Masan decided to take over WinCommerce – a retail system with over 3,000 stores – there were doubts about whether Masan could truly ‘turn around’ a business that was losing up to 3,800 billion VND annually, with only 203 profitable stores.”
Fast forward five years, and the answer is clear: Not only has WinCommerce turned a profit, but it has also surpassed a revenue milestone of 30,000 billion VND, reaching 33,000 billion VND in 2024.
“The three keywords emphasized by the leadership over the past five years have been ‘growth – profitability – cash flow’. And WinCommerce has indeed achieved all three,” said Ms. Phuong.
According to WinCommerce’s leadership, the company’s expansion strategy will be implemented according to a clear plan: each district/county will have at least one WinMart supermarket; each ward/commune will have a mini-mart store; and each village or residential area will have a Win+ sales point. All of these efforts aim to best serve the daily consumption needs of customers, whether it’s for stockpiling, supplementing, or quick shopping around their neighborhood.
Looking ahead, WinCommerce sets its sights on expanding its network to 10,000 stores nationwide by 2029, with expected revenue of 60,000 billion VND, while maintaining a net profit margin of 3-5%.
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