Illustrative image (Photo: Vingroup) Hanoi (VNA) - Vingroup, Vietnam’s largest private firm by market value, has given upcontrol of its retail unit as it wants to concentrate on the technologicaland industrial sectors.
Vingroup will allowthe e-commerce platform Adayroi to affiliate with tech app unit VinID whileelectronics retailer VinPro will be dissolved.
The multi-sectorgroup has taken the next step in its restructuring plan to direct all resourcesinto technology and industrial development, the company said in a pressrelease on December 18.
On December 3,Vingroup announced its agriculture arm VinEco and VinCommerce will merge withMasan Consumer Holding, a member of Masan Group.
Vingroup will convertits ownership in the two member companies into shares in the post-merger firm,which is smaller than Masan Consumer Holding’s.
On December 17,VinCommerce, operator of convenience stores Vinmart and supermarkets Vinmart,announced the shutdown of the e-commerce platform Adayroi.com.
The shutdown began at6pm on December 17 and it remains unclear when the site will be re-opened.
It means all productsand services provided by the website will cease to be traded and all purchaseorders placed before the closure will be fulfilled and subject to the same oldsales policy, VinCommerce said in a letter to suppliers late on the day.
All suppliers arerequired to submit legible invoices and documents to VinCommerce to settledebts. Settlements with suppliers will be done by January 15, 2020, the companysaid.
The shutdown was toassess and restructure the site’s operation to better meet the market andcustomer demand, the retailer said.
E-commerce siteAdayroi began operating in August 2014 as Vingroup expected to make a new set ofstandards on the quality and origin of merchandise, thus boosting theVietnamese retail and e-commerce sectors.
The merger betweenAdayroi and VinID will help digitalise consumers’ behaviours and create acustomer-centric platform that forecasts and meets their demand for the highestquality, Vingroup said.
Meanwhile, theelectronics retailer VinPro was introduced in March 2015 to help completeVingroup’s retail division. However, as the company targets a new strategy andmodel, retail is no longer a core business and a priority, the company said.
The merger anddissolution will be complete by December 31, 2019./.
Vingroup will allowthe e-commerce platform Adayroi to affiliate with tech app unit VinID whileelectronics retailer VinPro will be dissolved.
The multi-sectorgroup has taken the next step in its restructuring plan to direct all resourcesinto technology and industrial development, the company said in a pressrelease on December 18.
On December 3,Vingroup announced its agriculture arm VinEco and VinCommerce will merge withMasan Consumer Holding, a member of Masan Group.
Vingroup will convertits ownership in the two member companies into shares in the post-merger firm,which is smaller than Masan Consumer Holding’s.
On December 17,VinCommerce, operator of convenience stores Vinmart and supermarkets Vinmart,announced the shutdown of the e-commerce platform Adayroi.com.
The shutdown began at6pm on December 17 and it remains unclear when the site will be re-opened.
It means all productsand services provided by the website will cease to be traded and all purchaseorders placed before the closure will be fulfilled and subject to the same oldsales policy, VinCommerce said in a letter to suppliers late on the day.
All suppliers arerequired to submit legible invoices and documents to VinCommerce to settledebts. Settlements with suppliers will be done by January 15, 2020, the companysaid.
The shutdown was toassess and restructure the site’s operation to better meet the market andcustomer demand, the retailer said.
E-commerce siteAdayroi began operating in August 2014 as Vingroup expected to make a new set ofstandards on the quality and origin of merchandise, thus boosting theVietnamese retail and e-commerce sectors.
The merger betweenAdayroi and VinID will help digitalise consumers’ behaviours and create acustomer-centric platform that forecasts and meets their demand for the highestquality, Vingroup said.
Meanwhile, theelectronics retailer VinPro was introduced in March 2015 to help completeVingroup’s retail division. However, as the company targets a new strategy andmodel, retail is no longer a core business and a priority, the company said.
The merger anddissolution will be complete by December 31, 2019./.
VNA
