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Completing a $400 million investment in The CrownX, Alibaba and Baring officially entered the Vietnamese retail market.

On June 14, Masan Group Joint Stock Company announced that it had completed the issuance of 5.5% new shares of The CrownX to a group of investors including Alibaba Group and Baring Private Equity Asia with a total cash value of 400 million USD.

edt292 by edt292
15/06/2021
in Blog
Completing a $400 million investment in The CrownX, Alibaba and Baring officially entered the Vietnamese retail market.

Image: Hai Ngoc

Through this transaction, The CrownX, the retail consumer platform that consolidates Masan’s interest in Masan Consumer Holdings and VinCommerce, is valued at $6.9 billion (pre-release) for 100% equity, equivalent to $93.5 per share. After this issuance, the percentage of Masan ownership at The CrownX is 80.2%.

Mr. Danny Le – General Director of Masan Group at the launch of The CrownX (Source: MSN)

Speed up the development of the O2O integrated retail market 

Masan said The CrownX will cooperate with Lazada to promote the transition of the company, accelerate the development of retail market integration from offline to online (O2O) in Vietnam, with a goal of the total value of goods from The CrownX’s online channel accounts for at least 5% of the company’s total sales in the near future.

Specifically, VinCommerce will be the leading retailer of necessities on the Lazada e-commerce platform, promoting necessities to become a key category of e-commerce. Along with that, they intend to develop the feature of supplying goods for online orders at VinCommerce’s offline points of sale and promote the synergy from the two sides’ supply and transportation platforms, in order to optimize and  increase the quality of customer service.

Kenny Ho, Investment Director of Alibaba Group in Southeast Asia and India said: “The combination of Alibaba’s online retail expertise, Lazada’s e-commerce platform in Vietnam, and Masan’s leading offline network will be a strong catalyst to modernize Vietnam’s retail landscape.”

Mr. Danny Le, General Director of Masan Group hopes that the strategic cooperation agreement will help the company accelerate the transformation of The CrownX into a Point of Life – an “all-in-one” platform serving the daily necessities of consumers on offline and online shopping channels.

Minh Ngo

Tags: AlibabaBaringCrownXretail market

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