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Native name | Công ty Cổ phần Đầu tư Thế Giới Di Động |
|---|---|
| Company type | Public (HOSE: MWG) |
| Industry | Retail |
| Founded | March 2004 |
| Founder | Nguyen Duc Tai Tran Le Quan Dinh Anh Huan Dieu Chinh Hai Trieu Tran Huy Thanh Tung |
| Headquarters | Ho Chi Minh City, Vietnam, |
Area served | Vietnam, Indonesia |
Key people | Doan Van Hieu Em (CEO) Nguyen Duc Tai (Founder and Advisor) |
| Products | Mobile phones, Electronics, Consumer Appliances, Pharmaceuticals and healthcare products, Consumer goods and groceries |
Number of employees | 60.000 (2023) [1] |
| Website | Official Website |
Mobile World Investment Corporation
[edit]From Wikipedia, the free encyclopedia
Mobile World Investment Corporation, (Vietnamese: Công ty Cổ phần Đầu tư Thế Giới Di Động, MWG), is a multi-retail company specializing in Mobile phones[2], Electronics, Consumer Appliances, Pharmaceuticals and healthcare products, Childcare products and Consumer goods and groceries.
Mobile World Investment Corporation was founded in March 2004 by Nguyen Duc Tai, the company is headquartered in Ho Chi Minh City. It is listed on the Ho Chi Minh City Stock Exchange (HOSE) under the ticker symbol MWG.
Thegioididong.com (lit. 'Mobile World') is the company's flagship brand and online platform. MWG operates other retail chains including Dien May XANH (lit. 'Blue Electronics Store') for consumer electronics and appliances, TopZone for Apple products, and Bach Hoa XANH (lit. 'Green Grocery Store') for groceries.[3]
MWG also operates Nha Thuoc An Khang (lit. 'An Khang Pharmacy') for pharmaceuticals and healthcare products AvaKids for mother and baby products. The company has expanded beyond Vietnam with operations in Cambodia through BigPhone and in Indonesia with EraBlue Electronics.
History
[edit]Early Growth and Investment (2004-2012)
[edit]The Gioi Di Dong (Mobile World), an early name of Mobile World Investment Corporation, began in March 2004 with a rudimentary e-commerce website showcasing products The Gioi Di Dong and three small physical stores in Ho Chi Minh City.[4] Shifting strategies in October 2004, the company invested in a larger retail store on Nguyen Dinh Chieu Street, achieving profitability. By March 2006, it had expanded to four stores within Ho Chi Minh City.
Securing investment from Mekong Capital in 2007 fueled rapid expansion, reaching 40 stores by 2009. In late 2010, the company diversified into consumer electronics with the launch of Dienmay.com (later rebranded as Dienmayxanh.com).[5] By the end of 2012, The Gioi Di Dong operated 220 stores across Vietnam. May 2013 brought further investment from Robert A. Willett, former CEO of Best Buy International, and CDH Electric Bee Limited.
Acquisitions and Regional Expansion (2017-2023)
[edit]In 2017, The Gioi Di Dong initiated the acquisition of the Tran Anh electronics retail chain. The merger concluded in October 2018, with 34 Tran Anh stores rebranded as Dien May XANH and the Tran Anh website redirecting to dienmayxanh.com. [6]Concurrently, The Gioi Di Dong expanded into Cambodia, opening its first mobile phone store in Phnom Penh under the BigPhone brand, later renamed Bluetronics to encompass both mobile phones and electronics, though it closed in 2023.[7]
March 2018 saw the acquisition of a 40% stake in the Phuc An Khang pharmaceutical chain, subsequently rebranded as An Khang Pharmacy.[8] In December 2018, the company shut down its Vuivui e-commerce platform.
In January 2023, The Gioi Di Dong entered the Indonesian market through a joint venture with PT Erafone Artha Retailindo (Erafone), a subsidiary of Erajaya Group, operating under the EraBlue brand.
Business Operations
[edit]By November 2017, Mobile World Investment Corporation (MWG) had opened 668 new stores, including 117 thegioididong.com (electronics retail) stores, 351 Dien May XANH (consumer electronics retail) stores, and 200 Bach Hoa XANH(grocery retail) stores. This brought the total number of operating stores to 1,923, a more than 50% increase compared to the beginning of the year. During the first 11 months of 2017, the company's revenue reached nearly 59 trillion Vietnamese dong.
By 2018, the total number of stores reached 2,160, with a presence in all 63 provinces of Vietnam.
MWG partnered with BKAV, a cybersecurity firm belonging to the Bkis Network Security Center, to exclusively distribute the Bphone 2017, a Vietnamese-branded smartphone.
According to a study by the Haas School of Business at UC Berkeley, Mekong Capital's private equity investment in MWG played a significant role in the company's impressive growth. This case study is included in the graduate curriculum at Haas and serves as reference material for students at Harvard Business School and Tuck School of Business.
On the afternoon of March 22, 2019, MWG appointed Tran Kinh Doanh as CEO, replacing Nguyen Duc Tai, who stepped down as CEO but retained the role of Chairman of the Board of Directors.
MWG currently has a market capitalization of approximately US$1.7 billion. Co-founder Nguyen Duc Tai is the fourth richest person on the Vietnamese stock market.
Organizational structure
[edit]The company is headquartered at the MWG Building - Lot T2-1.2, D1 Street, High-Tech Park, Tan Phu Ward, District 9 (now Thu Duc City), Ho Chi Minh City, Vietnam, with the following subsidiaries:
- Tran Anh Digital World Joint Stock Company (TAG)
- Mobile World Joint Stock Company
- Electronics World Joint Stock Company
- Retail World Investment Consulting Limited Liability Company
- Bach Hoa XANH Trading Joint Stock Company
- An Khang Pharma Pharmaceutical Joint Stock Company (An Khang Pharmacy)
- Mobile World Information Technology Limited Liability Company
References
[edit]- ^ "Mobile World removes 10,000 employees across the system during the 'fiercest' year in its operating history". CafeF (in Vietnamese). Retrieved 2024-03-29.
- ^ Le, Tan (28 May 2013). "The former Global CEO of Best Buy has joined Mobile World". Archived from the original on 10 June 2013.
- ^ Bong Mai (2024-05-09). "Mobile World Investment Corporation Disbands Two Subsidiaries Focused on "Dream" of Clean Vegetables and Streamlined Delivery". Tuoi Tre Online. Retrieved 2024-12-06.
{{cite web}}: CS1 maint: url-status (link) - ^ The story of the founder of The Gioi Di Dong Archived 2013-10-02 at the Wayback Machine, by VNEconomy post
- ^ The Mobile World and its Development Challenges Archived 2013-08-29 at the Wayback Machine
- ^ Ngoc Tuyen (28 July 2017). "The Gioi Di Dong acquires Tran Anh electronics chain". VN Express. Retrieved 17 September 2023.
{{cite news}}: CS1 maint: url-status (link) - ^ Phuong Dong (17 February 2023). "The Gioi Di Dong closes electronics store chain in Cambodia". VN Express. Retrieved 17 September 2023.
- ^ Hoanh Thanh. "The Gioi Di Dong abandons plan to fully acquire pharmacy chain". Zing News. Archived from the original on 4 September 2019.