FPT and a number of electronics retailers are looking to expand their business by entering the pharmaceutical segment.
|FPT Retail is going for a larger share of the pharmaceutical market |
At FPT's annual general shareholders’ meeting this morning, Nguyen Bach Diep, chairman of FPT Retail, announced the plan to increase the Long Chau pharmaceutical chain to 400 units by 2022 with an annual average of 100 drugstore openings.
Diep also said that Long Chau drugstores have higher average monthly sales than other stores in the market. Specifically, the stores generate $136,000 in sales revenue per month, while Pharmacity makes $11,000, Pharno $18,000, and An Khang $32,000.
FPT Group set the 2018 sales target of VND16.020 trillion ($705.7 million), up 22 per cent on-year, with after-tax profit of VND377 billion, up 30 per cent on-year. FPT Retail also registered to list 40 million shares, equivalent to the company’s charter capital of VND400 billion ($17.6 million) at the Ho Chi Minh City Stock Exchange in this year’s early second quarter.
Currently, FPT Group holds 47 per cent of the shares in FPT Retail, Dragon Capital and VinaCapital hold 34.32 per cent, and the rest belongs to other shareholders.
|FPT Retail will open 400 Long Chau drugstores in 2022 |
In early 2018, electronics retailer Digiworld mapped out its road to conquer Vietnam’s consumer goods market.
Digiworld JSC plans to boost its presence in the healthcare and consumer goods industries this year. The goal for 2018 is to earn at least VND200 billion ($8.78 million) in gross revenue from these two sectors.
The distributor plans to achieve this target by constantly rolling out new offers throughout 2018. Specifically, in the second quarter, Digiworld will introduce a series of children’s healthcare products that are imported from the US.
In the next quarter, Digiworld will launch other products for liver protection and circulatory system improvement.
In August 2017, the firm made its debut with Kingsmen, which promises to improve the physiological energy of men above 40 years old. Revenue from Kingsmen will be included in Digiworld’s financial reports this year.