Will Mobile World open new TopZone chain abroad?
The Gioi Di Dong (Mobile World) has revealed the opening of a new chain named TopZone, with many indications that it will be their second retail chain abroad.
The first information about a new retail chain called TopZone has been revealed on the Mobile World website and some other channels of this retailer. This retailer did not disclose what TopZone will sell before the launch on October 16.
TopZone.vn website has been established, but it only displays a game for users to guess what TopZone will sell. There are 5 answers, including: overseas chain, fashion stores, high-end technology stores, stores cooperating with Samsung or Oppo.
By the exclusion method, it will be possible to guess the function of the TopZone chain.
Firstly, it will be very unlikely that Mobile World will open a chain of stores that only sell high-end technology products. Nguyen Duc Tai, co-founder of Mobile World, has shared the philosophy of serving a majority of customers, so opening a chain that only sells high-end goods in the current context is very unlikely. Looking at the retail chains of mobile phones, electronics, department stores, and pharmacies of Mobile World, it is easy to see that they are targeting general customers.
TopZone cannot be a chain that cooperates with Samsung or Oppo because of this philosophy. Not to mention a slogan associated with TopZone "Where you want to stop" so it will be very difficult to be a store that only serves one brand. At the same time, the TopZone logo has four colors, which can hardly represent a specific brand. However, the inclusion of the names Samsung and Oppo shows that the upcoming chain will have a significant presence of two leading brands in the Vietnamese smartphone market.
Previously, Mobile World opened stores that only sold Apple products, but they closed.
The possibility of opening a fashion retail chain is also unlikely, although this segment has potential. There are hardly any domestic retail brands that can compete with brands like H&M, Zara, Uniqlo…
In the context that the domestic economy has just reopened, and the fashion segment is almost the opposite of the current businesses of Mobile World, it seems unreasonable to open a clothing chain now.
The biggest possibility is that TopZone will be Mobile World's second technology retail chain in foreign markets for many reasons.
Their mobile phone and electronics chains are currently occupying a large market share in Vietnam, so it is difficult to expand further. In addition, the smartphone market in Vietnam is also saturated. Therefore, Mobile World needs to look for other markets with more potential.
In its recent business reports, Mobile World included Bluetronics as a bright spot. In the first 8 months of 2021, this chain grew by nearly 300% over the same period of 2021. This achievement shows two things. Firstly, the business model in foreign markets has found a recipe for success. Secondly, it alerts the company about the potential of a newer market outside Vietnam.
Doan Van Hieu Em - CEO of the two chains of The Gioi Di Dong and Dien May Xanh – told ICTNews early this year that Mobile World would only open a maximum of 80 stores in Cambodia.
Cambodia will be the springboard, where the firm will conduct international business trials before jumping into other markets in Southeast Asia.
There are many signs that TopZone is an overseas chain, but the domain name TopZone.vn seems to be for the Vietnamese market.
Sources from Mobile World have not revealed anything more about TopZone.
Many Vietnamese companies are able to reach the regional and international market after accumulating experience and financial resources in the domestic market.