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Thursday, June 20, 2024

FPT Retail accelerates business expansion

The Saigon Times

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HCMC – FPT Digital Retail JSC (FPT Retail/FRT), an affiliate of Vietnam’s tech giant FPT, will implement its business expansion plan for this year by opening over 70 laptop centers, around 100 FPT Shop outlets and more Long Chau-branded drugstores.

The move is aimed to help FPT Retail hit its 2022 revenue target of VND27 trillion and its before-tax profit target of VND720 billion, up 20% and 30% year-on-year, respectively.

Established in 2012 in Vietnam, FPT Retail is the owner of two retailing chains, namely FPT Shop and F.Studio by FPT, and a pharmaceuticals business, FPT Long Chau Pharma JSC.

Following last year’s business success, FPT Retail will launch over 70 laptop centers and some 100 FPT Shop facilities this year to increase its brand coverage in densely populated areas.

The retailer will offer new services and products including opening PC Gaming shops on a trial basis, improving its service quality, and mulling to launch a mobile virtual network business model.

Besides, it will make efforts to launch more Long Chau drugstores in all 63 provinces and cities in the country.

The retailer pledged to heavily invest in digital transformation and continue to upgrade its retailing platforms in 2022.

In the local stock market, FRT moved sideways today, July 25, at VND76,500 per share.

The benchmark VN-Index on the HCMC market shed 6.26 points, or 0.52%, over the session earlier at 1,188.5, with 127 winners and 321 losers. Over 437 million shares valued at some VND9.9 trillion were transacted on the southern bourse, falling over 8% in volume and almost 9% in value.

The HNX-Index on the Hanoi bourse lost 3.46 points, or 1.2%, against the previous session at 285.38, with 62 advancers and 134 decliners.

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