Hoa Sen Group Chairman Le Phuoc Vu and billionaire Tran Ba Duong inaugurate the Hoa Sen Home headquarters.
Kicking off the series of events at 8:00 a.m., Mr. Le Phuoc Vu, Chairman of Hoa Sen Group (HSG), and Mr. Tran Ba Duong, Chairman of Truong Hai Group (Thaco), performed the ribbon-cutting ceremony for the Hoa Sen Home Office and An Khanh Showroom (Thu Duc City). This retail outlet is designed as a modern shopping experience hub, aligning with Hoa Sen’s vision.
The presence of Thaco’s Chairman at the event hints at potential collaboration in developing retail spaces for this chain, leveraging Thaco’s commercial land assets.
Subsequently, at the Thiskyhall Sala Convention Center, the establishment of Hoa Sen Home Joint Stock Company was officially announced. Hoa Sen Home will operate as an independent entity with an initial charter capital of 1 trillion VND.
Addressing the company’s direction, Hoa Sen representatives emphasized that amidst volatile export markets and traditional steel sectors, focusing on domestic market expansion through this new entity is a strategic priority. HSH aims to develop a large-scale distribution network for construction materials and furniture, backed by modern management capabilities.
Positioned as a leading retailer of construction materials and home furnishings, Hoa Sen Home offers a diverse product range, from steel and tiles to sanitary ware. Currently, the network comprises 12 central warehouses, over 400 stores, and more than 140 supermarkets nationwide. The chain’s competitive strategy revolves around the “4D” commitment: Right Price, Right Standards, Right Quality, and Warranty Assurance.
Mr. Le Phuoc Vu, Chairman of Hoa Sen Group (HSG)
During the event, financial targets for the retail system were disclosed. Revenue for 2024-2025 is projected at over 15.9 trillion VND, with a 2026 goal of 18.4 trillion VND.
Leadership expressed aspirations to achieve billion-dollar revenue in the future and plans for an initial public offering (IPO) when market conditions are favorable.
In terms of partnerships, Hoa Sen Home has signed agreements with tech giants like Alibaba and Salesforce, along with 15 other partners, to optimize digital transformation and supply chain operations. The company aims to expand its network to 165 supermarkets by 2026 and 300 by 2030.
Beyond business operations, Hoa Sen Home has partnered with the Ho Chi Minh City Labor Federation to develop 20,000 social housing units for workers from 2026 to 2030. The company will engage in research, demand assessment, and investment model development to supply these housing units to the city.
Official Launch of Hoa Sen Home: Partnership Signing and New Strategy Announcement
On January 19, 2026, Hoa Sen Group proudly announced the establishment of Hoa Sen Home Joint Stock Company, inaugurating its headquarters at 72 Nguyen Co Thach, Sala Urban Area. The event also marked the signing of strategic partnerships with key domestic and international collaborators, alongside the unveiling of the company’s new strategic development roadmap.
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Revised Introduction:
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