Vingroup is now able to focus on its core businesses while Masan found its last piece of a puzzle to build an empire of consumer retail. The merger of Vingroup’s retail arm VinCommerce and its farming subsidiary VinEco into Masan Consumer Holdings, the consumer business of Masan, is expected to become a turning point for these two giants. Unit: Million USD. Data: Vingroup’s financial statements. Chart: Ngoc Thuy. For Vingroup, Vietnam’s largest privately-run conglomerate, the agreement allows it to focus on its emerging businesses namely manufacturing and technology, while Masan obtains its last piece of a puzzle to build an empire of consumer retail, eventually penetrating international markets. Under the agreement, a new consumer retail group would be established, with Masan taking control of and Vingroup swapping its stake in VinCommerce for that of the new company and becoming a stakeholder. A report from MB Securities Company (MBS), retail sales of Vietnam’s market reached a new record high of US$142 billion in 2018, with a compound annual growth rate (CAGR) of 13%, 1.5 times higher than the country’s economic growth rate. As the country’s middle class is expanding at the fastest growth in the Asia – Pacific region, not to… Read full this story
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