Global Tech Expansion to Include Two Electronics Chains by 2030

Strategic Moves by Mobile World Group

Mobile World Group, a leading retail company, has announced plans to take its two electronics chains public. The company is targeting initial public offerings (IPOs) for 2030, according to recent statements from executives. This move is part of a broader strategy to allow the chains to operate independently and transparently, with tailored strategies for each business segment.

The two chains in question are The Gioi Di Dong, which specializes in smartphones, tablets, and other smart devices, and Dien May Xanh, which focuses on household appliances. These entities are set to become independent entities, marking a significant shift in the company’s structure.

The IPOs are not primarily aimed at raising capital but rather at enabling the chains to function autonomously. This approach allows for more focused management and strategic decision-making, ensuring that each chain can thrive based on its unique market demands.

In addition to the electronics chains, Mobile World had previously expressed intentions to make its food and consumer goods chain, Bach Hoa Xanh, public. However, the IPO for Bach Hoa Xanh was postponed indefinitely as the company underwent a comprehensive restructuring. This delay allowed the company to reassess its operations and align them with long-term goals.

Ambitious Growth Targets

Mobile World has set an ambitious target to double its profit by 2030 compared to 2025. The company also aims to maintain an annual growth rate exceeding 15%. This aggressive growth plan reflects the company's confidence in its current business segments and future strategies.

Prior to 2024, the two electronics chains were the only consistently profitable segments within the company. They played a crucial role in supporting Mobile World as it navigated through loss-making ventures such as Bach Hoa Xanh and An Khang pharmacy.

Starting in 2026, The Gioi Di Dong and Dien May Xanh will shift their focus from expansion-driven growth to enhancing quality. The company emphasized that it will avoid price wars, instead prioritizing "peace of mind, speed, experience, and service." This customer-centric approach is expected to strengthen brand loyalty and improve overall satisfaction.

Expanding Strategic Partnerships

TopZone, a brand under The Gioi Di Dong, aims to strengthen its strategic partnership with Apple. This collaboration positions Vietnam closer to Tier 1 status, enabling the launch of new Apple products alongside major markets such as the U.S., Europe, China, Japan, and Singapore.

In addition to its domestic operations, Mobile World operates EraBlue, a joint-venture electronics retail chain in Indonesia. EraBlue aims to lead Indonesia in revenue and store count by 2030. The venture has already achieved break-even status and plans to accelerate expansion, targeting 500 stores in the long term. An IPO is also part of the joint venture’s roadmap.

Financial Performance and Market Expansion

In the first half of this year, The Gioi Di Dong and Dien May Xanh reported a 12% revenue increase to over VND49.4 trillion. This growth occurred despite operating 200 fewer stores than at the start of 2024 and refraining from opening new locations.

Mobile World’s leadership attributed the market share growth to expanded services and customer credit programs. Initiatives such as discounts from a single purchase applicable across multiple product categories have fostered greater customer loyalty. These strategies highlight the company’s commitment to enhancing the customer experience and driving long-term value.