Vinmart to Win-Mart

Credit: MAA

The renaming of Vinmart to WinMart is an example of serendipity in the corporate world. Vingroup sold its retail subsidiary VinCommerce, which operates VinMart, VinMart+ and agriculture arm VinEco, to Masan Group in a merger deal in December 2019. There are other recent examples of Vingroup selling subsidiaries, or stakes in the same, in order to finance new ventures such as VinFast and artificial intelligence (AI).

WinCommerce was profitable for the first time in the third quarter of 2021. The company plans to expand its outlets by 30,000 stores in the next four years with two-thirds of them being franchised.

Shalom (שלום), MAA

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