FPT Retail expects 100 new stores in 2017
In 2017, FPT Retail plans to open 100 new stores and achieve revenue growth of 27.5%’. The company will focus on e-commerce and reach its customers under the new business model.
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01/03/2017
FPT Retail earned VND 10,585 billion in revenue (35% growth), VND 259 billion in profit before tax (44.2% growth) in 2016. The company opened 133 new stores, bringing the total number of stores to 400 in all 63 provinces and cities nationwide.
According to FPT Retail CEO Nguyen Bach Diep, in order to hit these goals, FPT Retail will connect with enterprises with large number of employees and cooperate with banks in order to sell products. Besides promoting to e-commerce to hit more than VND 2,000 billion in revenue (doubled over 2016), FPT Retail is also considering other retail sectors.
"FPT Retail joined hands with Vinamilk to open the chain of dairy stores in October 2016. By the end of the first quarter of 2017, the two sides will standardize the model, complete management process, then consider this opening in more detai", sadi Mrs. Diep.
According to the market research firm GfK Vietnam, the number of smartphones in Vietnam could reach 23,636 million by 2017 and reach nearly 29 million by 2019. The technology products retail market will grow by 20% this year. This is considered signal optimism for retailers like FPT Retail.
