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%.
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.