Mobile World Group aims for 1,000+ Bách Hóa Xanh stores in 2024

Mobile World Group (MWG) chief executive Vũ Đăng Linh said the Bách Hóa Xanh supermarket chain has accelerated its expansion, opening 632 new stores in the first half of the year and more than 200 in the past month, bringing the total network to about 3,400 outlets as of 5 August. The company plans to open over 1,000 additional stores in 2024, maintaining a roughly even split between northern and southern Vietnam. Average monthly revenue per northern store is around VND 1 billion, with new outlets typically turning a profit after three to six months of operation.

MWG’s broader valuation remains a focus. After Điện Máy Xanh (DMX) listed on HoSE, the market capitalisation of DMX (≈VND 104 trillion) is now comparable to MWG’s, despite MWG owning 86 % of DMX. Apart from DMX, MWG’s other businesses—including Bách Hóa Xanh, An Khang pharmacy chain and AVAKids—contribute less than VND 16 trillion to its total valuation. Bách Hóa Xanh posted roughly VND 910 billion profit in the first half of the year and is on track to meet its VND 1.8 trillion profit target for 2026.