Wincommerce opens first WinMart+ franchised stores

Friday, Dec 31, 2021 17:37

Inauguration of the first WinMart+ franchised store in Ha Noi. WinMart+ is franchised as a multi-utility mini-mall model with accurate automatic ordering and inventory control system and professional-trained personnel.— Photo courtesy of Masan

WinCommerce General Commercial Services Joint Stock Company, a subsidiary of Masan Group, opened its first two WinMart+ franchised stores in Ha Noi and Bac Giang on December 30 and 31.

The opening marks an important milestone in Masan Group's goal of having 20,000 franchised stores and 10,000 of its own outlets to serve 30-50 million consumers by 2025.

WinMart+ is franchised as a multi-utility mini mall model with accurate automatic ordering and inventory control system and professionally trained personnel.

Its product portfolio is tailored by WinCommerce to meet local customers' needs, allowing franchisees to enjoy higher returns with ease.

WinCommerce targets as partners businesses and individuals interested in the modern retail store model and able to meet the franchising requirements in terms of premise and capital. More specifically, they must have townhouses or shophouses and be willing to invest VND1 - 2 billion (US$43,982 - 87,943) in the store. The premises need to be more than 100sq.m and have a frontage of at least 6m, and the preferred locations are main streets and residential buildings.

WinCommerce is the largest modern retailer in Viet Nam with nearly 3,000 WinMart/WinMart+ supermarkets and stores in 60 provinces and cities across the country.

With Vietnamese products always making up more than 90 per cent of its inventories, WCM is a bridge for domestic enterprises and manufacturers to take their high-quality products to more than 32 million customers a month.

The traditional retail channel accounts for over 70 per cent of Viet Nam’s retail market. Modern retail holds a modest market share of just over 20 per cent but is forecast to increase rapidly in future.

Traditional retail is still fragmented and its service standards are still limited, which means consumers are now paying more for everyday essentials.

The first WinMart+ franchised store in Ha Noi that integrates a Phuc Long kiosk and Reddi mobile network. — Photo courtesy of Masan

Masan Group's vision is to build a Point-of-Life platform that fully meets customers' essential needs on a single platform, and serve 30-50 million consumers by 2025 with a network of 10,000 its own stores and 20,000 franchised outlets.

Through this model, consumers can save 5-10 per cent on essential products while producers and farmers can increase their profits by 5-10 per cent and retail franchise partners by 5-10 per cent.

Nguyen Thi Phuong, permanent deputy general director of WinCommerce, said: “Our advantage is that thousands of Masan salespeople already have good relationships with more than 300,000 brick-and-mortar stores. With our product strategy and large scale, we are able to negotiate to buy goods from suppliers at a better price.

“We also have self-manufactured products and a streamlined retail model. WinMart+ franchising is a win – win model where retailers can sell better and shoppers have a better experience.”

The first WinMart+ franchised stores opened in conjunction with a Phuc Long kiosks and Reddi mobile network.

The model will be expanded steadily. VNS

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