Masan’s retail arm, WinCommerce, delivered the most impressive business results. In Q3/2025, revenue reached VND 10,544 billion, a 22.6% increase year-on-year, with post-tax profit hitting VND 175 billion, an 8.7-fold surge compared to the same period last year.
For the first nine months of the year, WinCommerce achieved cumulative revenue of VND 28,459 billion and post-tax profit of VND 243 billion.
Since the beginning of the year, the company has opened a net total of 464 WinMart+ stores, surpassing its initial target and on track to meet its high-growth scenario by year-end. Over 80% of the new stores have already reached breakeven. Masan aims to operate approximately 4,500 stores nationwide by the end of the year.
Rural areas, home to over 60% of Vietnam’s population, are the primary growth driver. Nearly 75% of new stores opened by the end of Q3/2025 are WinMart+ outlets in rural locations. These stores recorded a 17.4% like-for-like (LFL) sales growth.
In Central Vietnam, the mini-supermarket model grew by 12.4% in Q3/2025, driven by a product range tailored to local needs and early expansion into high-traffic locations. This region accounts for about 50% of newly opened stores, further solidifying WinCommerce’s market leadership.
Fresh Meat Deli Counter at WinMart Supermarket
Masan’s livestock and processed meat division, Masan MEATLife, also saw robust growth despite industry challenges posed by livestock diseases.
In Q3/2025, Masan MEATLife reported revenue of VND 2,384 billion, a 23.2% year-on-year increase, with post-tax profit reaching VND 101 billion, more than quintupling compared to the same period last year.
For the first nine months, Masan MEATLife achieved revenue of VND 6,794 billion and post-tax profit of VND 466 billion, a VND 526 billion increase year-on-year.
Dr. Nguyễn Đăng Quang, Chairman of Masan Group, stated that the Q3/2025 results mark a significant milestone in Masan’s journey to sustainably modernize Vietnam’s consumer-retail sector while ensuring profitability.
Masan aims to create powerful synergies by developing a unified membership program, connecting WinCommerce’s modern retail network with Masan Consumer’s direct distribution model. This strategy will enhance reach and efficiency in serving traditional retail outlets nationwide.
“Our goal is to connect brands, retailers, and consumers, both online and offline, to fully meet the needs of over 100 million Vietnamese people,” said the Chairman of Masan.
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