All operations of Vingroup’s e-commerce platform Adayroi stopped since yesterday (December 17) evening.
Adayroi closes after VinMart was merged into Masan's retail ecosystem
The operator Vincommerce has just announced the termination to all vendors and customers of Adayroi. Accordingly, in order to evaluate and restructure the operations of Vincommerce, the e-commerce platform has halted operations from 6 pm on December 17.
The goods and services that have been ordered successfully on Adayroi before the termination will still be delivered and receive customer supported in accordance with the policies of the platform.
Vendors will provide invoices before December 25, 2019, and Vincommerce will pay within 15 days after December 31, 2019.
Vingroup launched Adayroi on August 15, 2015 to become a competitor of Lazada. Over the last three years, while players like Shopee, Tiki, Sendo, Thegioididong, and Lazada have been actively developing in the e-commerce market, which is expected to reach the value of $13 billion by 2023, Adayroi made no outstanding moves and experienced modest growth.
According to iPrice, visits at Adayroi are around 6-7 million a quarter, far less than the figures for other players.
Selling the retail chain VinMart and closing Adayroi is part of the new strategy of Vingroup, which specialises in technology and industry. Earlier, on December 3, Vingroup and Masan reached an agreement about merging Vincommerce JSC, which operates VinMart supermarkets and VinMart+ convenience stores, and VinEco Ltd. specialising in agricultural manufacturing into Masan Group, perfecting its food and retail supply chain. This allows Vingroup to focus on the automobile industry and technology. VIR
Vingroup, Vietnam’s largest private firm by market value, has given up control of its retail unit as it wants to concentrate on the technological and industrial sectors.
Vietnamese conglomerate Vingroup said on December 3 it has entered into a share swap agreement to merge its retail and agriculture arms with Masan Consumer Holdings, to create the country’s biggest retail company.