The Gioi Di Dong (Mobile World), one of Vietnam’s leading mobile retailers, has started its fourth vertical business with the acquisition of local drug store chain, Phuc An Khang Pharmacy.
This makes the fourth business vertical that The Gioi Di Dong CEO, Tran Kinh Doanh has developed since the founding of The Gioi Di Dong in 2004. The Gioi Di Dong started as a mobile phone and electronics retail company with three stores. In the following years the company would initiate the following actions:
2010 – The company separates it electronics business into a new company. In 2015, the company is renamed into Dien May Xanh (Blue Electronics). Dien May Xanh now has more than 400 retail locations across Vietnam.
2014 – The Gioi Di Dong opens its first major mobile phone outlet and has now expanded this into a nationwide network of 1,100 stores.
2017 - The company enters a new business area, groceries, through its new Bach Hoa Xanh (Green Department Store) chain. The company has plans to open 350 stores and was estimated to have opened 275 stores across HCMC by December 2017.
2017 – The company enters the pharmaceutical retail market through the acquisition of Phuc Anh Khang, which is being rebranded as An Khang. Phuc Anh Khang was founded in May 2006, and has 14 pharmacies in Ho Chi Minh City.
In 2017, The Gioi Di Dong also acquired Tran Anh, a popular electronics chain in northern Vietnam with 39 outlets and has announced that it will continue to expand its mobile and electronics businesses at the same time as it expands its grocery business and starts its new drug store business.
According to a company representative, The Gioi Di Dong believes that it can upgrade software, hardware and human resources practices across a number of verticals and make them more profitable and that this strategy also allows the company to diversify into new business areas making it attractive to investors and shareholders.