Vietnam's largest mattress distributor accelerates its store expansion
By Viet Hung
August 29, 2018 | 08:27 AM GMT+7
Upon the completion of the investment of Mekong Capital in mattress and bedding solution provider Vua Nem Joint Stock Company through Mekong Enterprise Fund III, Vua Nem has continuously opened new stores across the country, aiming to have 200 stores in the next two years.
Vua Nems is Vietnam’s largest retailer distributing various products of blanket, bed sheet, pillow and mattress.
In a peak season of the mattress and pillow market as currently, Vua Nem is increasingly opening new stores in order to serve high demand of consumers.
Only in June this year, the company has opened six new stores in Hanoi city and Ho Chi Minh City, which bring the total number of Vua Nem stores to 44.
Currently, Vua Nem is present in 23 provinces of Vietnam, in which Ho Chi Minh City and Hanoi city are the two biggest markets of the company with a total of 22 stores.
Vua Nem aims to develop its store number to 70 this year
"Vua Nem aims to develop its store number to 70 this year and plans to open 60 to 100 new stores annually to reach the target of 200 stores by 2020," said representative from Vua Nem.
Hoang Tuan Anh, founder of Vua Nem once emphasized that the company aims to become the largest retailer of mattress and bedding solutions in Vietnam.
According to the assessment of Vua Nem, Vietnam currently has about 25 million families, of which 40 per cent is mattress users. As a result, it is estimated that this market is worth hundred of million dollars annually.
With the investment of Mekong Capital, Vua Nem is currently focusing on building retail management systems based on information technology, and investing in human resource to improve human capacity. Once the platform is firmly built, the expansion of the store system will become much simpler and faster.
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