Vietnam's FPT seeks partners for retail business: report

Thanh Nien News

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 A store of FPT Shop. Photo credit: FPT Shop's website
Vietnam's tech giant FPT is looking for partners with financial capacity and experience in retail and e-commerce to expand its digital store chain, news website ICTNews has reported, citing a representative.
FPT Shop, which saw the fastest revenue growth among the group's subsidiaries last year, is now in need of extra capital and advanced corporate governance, the unnamed representative said in the website.
With nearly 270 stores across the country, the chain posted a revenue of over VND7.83 trillion in 2015, up 148 percent from the previous year and accounting for 19.6 percent of FPT's earnings, according to the website.
It plans to open at least 50 new stores this year, the representative said.
Top mobile retailer The Gioi Di Dong (Mobile World) has expressed its interest in a deal with FPT Shop, ICTNews reported.
CEO Tran Kinh Doanh told the website that The Gioi Di Dong has planned to expand its business through mergers and acquisitions since last year, but has yet to find a suitable sale.
The retail giant itself plans to add 100 stores this year, bringing its existing outlets to 850, the website reported.

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