- Vingroup sold its retail subsidiary VinCommerce to Masan Group in a merger deal in December 2019
- VinMart has expanded to 123 supermarkets while VinMart+ has reached nearly 3,000 convenience stores nationwide
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Vietnam’s Masan Group has rebranded VinMart and VinMart+ as WinMart and WinMart+ after it acquired the retail brands from Vingroup over a year ago.
The brand name change was announced by Masan CEO Danny Le at the conglomerate’s shareholders meeting on Thursday.
While the Masan representative said that the rebranding will take place in the near future, many consumers have noticed that VinEco vegetable products have been renamed WinEco recently, with the brand color remaining red.
Masan said there will be insignificant changes in the brand identity but the retail brands’ quality, goods, and services will be different.
Vietnam’s conglomerate Vingroup sold its retail subsidiary VinCommerce, which operates VinMart and VinMart+, and agriculture arm VinEco to Masan Group in a merger deal in December 2019.
During its restructuring process, Masan has received positive feedback from consumers through its customer care application and increased benefits for loyal members.
Since their introduction six years ago, VinMart has expanded to 123 supermarkets while VinMart+ has reached nearly 3,000 convenience stores nationwide.
Masan, which is listed on the Ho Chi Minh City Stock Exchange, is a leading retail group in Vietnam.
Its subsidiaries include consumer retail arm Masan Consumer, lender Techcombank, meat business Masan MEATLife, and mining arm Masan Resources.
This article was originally published in Tuoitrenews
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Source: Vietnam Insider