VnExpress News The News Gateway of Vietnam
Electronics retail giant Mobile World has shut down its AVAFashion business six months after branching out to the new sector in its search for new revenue streams.
The of AVAFashion website has been shut down and is redirected to AVASport, Mobile World’s sportswear distributor.
The largest electronics retailer in Vietnam launched five new chains in mid-January: AVAFashion, AVASport, AVAKids (selling kids clothes), AVAJi (selling jewelry and watches) and AVACycle (selling bicycles).
AVAJi has stopped selling jewelry to focus on watches.
Chairman of Mobile World, Doan Van Hieu Em, said earlier the AVA chains are part of the company’s strategy to experiment with new businesses to seek more growth opportunities, and whatever does not work would be closed.
Another foray is into pharmaceuticals with its An Khang drugstores.
Em plans to expand the number of An Khang stores from 500 to 800 by the end of this year.
Its competitors Pharmacity and Long Chau have over 1,100 and 690.
Mobile World has also been shutting down dozens of Bach Hoa Xanh grocery stores as it seeks to improve the performance of each store in preparation for a nationwide expansion next year.
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