Vietnamese supermarket chain VinMart has tripled its revenue in the second quarter of this year.
Parent VinGroup says the group achieved VND2,465 billion (US$110.6 million) in sales of its supermarkets and convenience stores, a 226 per cent increase compared to the same period last year.
One of the reasons for VinMart’s growth is the group’s strategy to bring its convenience stores VinMart+ to “every corner of Vietnam”, making it a part of consumers’ daily shopping routines.
Up until July, after almost two years of operation, VinMart has 50 supermarkets and 830 convenience stores nationwide, which means the company has been opening three supermarkets a month and 46 c-stores.
A standout of VinMart+ is the fresh food, distributed by green brand VinEco. The products are exclusive greenhouse vegetables, grown using Israeli technology.
With this self-supply and self-control strategy, VinGroup has been creating a strong competitive strength in the market.
Besides VinMart, its other divisions contributed to VinGroup’s profit in the quarter of VND 2,926 billion ($131.2 million): VinHomes, Vincom Retail, Vinpearl Land, Vinschool, Vinmec, and VinPro.