During a state visit to Indonesia, Mobile World Investment Corporation (MWG) signed a memorandum with Erajaya for a $50 million (approximately 1.3 trillion VND) investment aimed at expansion by 2027. According to CEO Doan Van Hieu Em, the joint venture plans to open 500 EraBlue electronics stores and achieve cumulative revenue over $1 billion. MWG also aspires to IPO this joint venture. In Vietnam, MWG is the top retailer with nearly 5,300 stores. Following domestic success, MWG has ventured into Indonesia, now operating 100 EraBlue stores while holding a 45% stake. Average revenue per store stands at 2.8 billion VND. By 2025, MWG expects EraBlue’s revenue to increase by over 50%, with plans to open 150 additional stores.
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