Korean group invests 410 million USD in VinCommerce

VinCommerce, a retail subsidiary of Masan Group, operates about 2,300 convenience stores and supermarkets in Vietnam, accounting for 50% of the nation’s retail market share.

The RoK group said it will collaborate with the Masan Group to invest in retail, logistics and electronic payment systems to expand VinCommerce's online channels to target the fast-growing e-commerce sector in Vietnam.

In 2021, VinCommerce plans to continue strengthening the modern essentials retail platform and bring sustainable profit growth, in which the commercial profit margin will be improved to 2% through signing contracts with strategic suppliers and finding direct fresh sourcing.

At the same time, it has deployed the store model nationwide before the second quarter of 2021 and upgraded the automatic supply chain model./.