Masan eyes global expansion, WinCommerce to reach 4,000 stores by 2024

April 29, 2024 | 08:49
(0) user say
Masan Group Corporation, along with its publicly listed affiliates Masan Consumer and Masan MEATLife, convened their 2024 AGM in Ho Chi Minh City on April 26, projecting a unified vision titled "Consumer of Things".
Masan eyes global expansion, WinCommerce to reach 4,000 stores by 2024

The event provided a pivotal platform for stakeholders to grasp the progress of Masan Group’s Consumer Platform and WinCommerce (WCM), and the strategic plans to enhance shareholder value.

Masan's CEO, Danny Le, focused his address on Masan’s commitment to operational excellence and profit growth, emphasising the milestones reached since the inception of the consumer-tech platform, The CrownX, in 2019.

"Our goal is to unlock shareholder value for Masan Consumer in the short term and WinCommerce in the medium term, ensuring a growth trajectory that is both focused and profitable over the next 18 to 24 months," Le asserted.

Despite macroeconomic challenges in 2023, Masan continued to push its growth engines forward, aiming to expand its minimart network under WinCommerce to over 4,000 outlets by 2024, targeting a 1 per cent earnings before interest and taxes margin and reaching store earnings before interest, tax, depreciation, and amortization breakeven for 90 per cent of its minimarts. They also seek to amplify wallet share growth by redefining the product scope of power brands such as Chin-su and Omachi, with a broader vision to globalise Vietnam’s culinary culture.

The WIN Membership programme, now the nation's most extensive membership platform, registered 8.5 million members in the first quarter of 2024. With a plan to integrate brands and general trade distribution, Masan is poised to grow its membership to 30 million by 2025, potentially increasing monthly active users and boosting revenue.

In technology, Masan’s advancements in AI and machine learning have shown early improvements in inventory availability and forecast accuracy, and reductions in logistics costs.

These innovations are particularly impactful for pilot WCM stores.

The roadmap for unlocking TCX’s value starts with MCH in 2025, followed by WCM between 2027 and 2028. Masan’s leadership has made it clear that a strategic, phased approach is crucial for realising the full potential of their platforms and ensuring the group’s sustained market prominence.

Masan eyes global expansion, WinCommerce to reach 4,000 stores by 2024

Truong Cong Thang, CEO of Masan Consumer Holdings, outlined the commitment to deepen household penetration across Vietnam and the ambition to take their brands global.

He underscored the company's success in establishing five brands, each generating significant revenue, as a testament to Masan's consumer-centric innovation strategy. "Our goal is to venture beyond the domestic market, providing premium home and restaurant meal replacements as part of our expansion," stated Thang.

Senior marketing director Dinh Hong Van conveyed Chin-su’s blueprint to reach the billion-dollar milestone by broadening the product portfolio and embarking on a global strategy.

"Chin-su is elevating Vietnamese cuisine on the world stage, with a strong performance in international markets, reflected by year-on-year export growth to the United States and South Korea," Van highlighted.

Nguyen Thi Phuong, CEO of WinCommerce, celebrated the subsidiary’s financial resurgence and its targets for sustained profitability.

"With the transformation achieved in 2023, we are now strategically positioned to pursue sustainable profitability in 2024," Phuong remarked, hinting at a future where WCM's operational efficiency and smart pricing strategies will bolster its market leadership.

Masan completes $250-million equity raise from Bain Capital Masan completes $250-million equity raise from Bain Capital

Masan Group Corporation (HOSE: MSN) has successfully completed a $250-million equity raise from Bain Capital, a world-leading private investment firm with approximately $180 billion of assets under management.

Techcombank successfully concludes fourth offshore syndicated loan facility Techcombank successfully concludes fourth offshore syndicated loan facility

Techcombank has successfully concluded its fourth offshore syndicated loan with 15 banks, providing a strong oversubscription of the $200 million facility.

By Luu Huong

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional