Mr. Le Phuoc Vu ‘comes down from the mountain’ to invest 6 trillion VND for the ambition to dominate the 9 billion USD VLXD retail market: What awaits, when the ‘giant’ from Thailand has to give up?

Hoa Sen Group (HSG) is preparing to invest 6 trillion VND to develop the Hoa Sen Home building materials supermarket chain from 2025 to 2030. Chairman Le Phuoc Vu confirms this is a strong return to the domestic market after facing challenges in exports. The Vietnamese building materials retail market is currently large but primarily consists of small traders. Hoa Sen Home intends to apply the “One-Stop-Shop” model to capture the market with the goal of reaching 300 stores by 2030. However, Hoa Sen faces many challenges from established small retailers and operational complexities. With price volatility of raw materials and logistical issues, Hoa Sen Home needs an effective management system and skilled workforce to ensure success. If successful, this could open a new growth era for Hoa Sen Group.