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25 Jun

FPT Retail partners with Fado

A screenshot of FPT Shop’s website. FPT Retail teams up with Fado to sell international products – PHOTO: CHI THINH

HCMC – FPT Digital Retail JSC, or FPT Retail, has cooperated with cross-border ecommerce platform Fado to sell international products made in the United States, Japan and Germany, a representative of FPT Retail announced.

Customers can now purchase these products on the website https://hangmy.fptshop.com.vn/.

The representative said that the international products available on the website have clear origins, and that under the agreement, Fado will bear legal liability in terms of commodities, while FPT Shop will act as an intermediary with domestic customers.

The international products on the website are diverse, including electronics, cosmetics and clothes.

After selecting products on the website, shoppers can make online payments or place deposits at FPT stores.

Customers will receive an alert when their selected products are delivered to the stores of their choosing.

U.S., Japanese and German products are purchased from well-known ecommerce platforms in those countries of origin, according to the representative.

According to Chi Thinh, The Saigon Times

29 May

The CEO of FPT Shop: “It is unreasonable that the value of each FPT Shop is about VND5,5 billion”

CEO FPT Shop: "Giá trị mỗi cửa hàng FPT Shop khoảng 5,5 tỷ đồng là bất hợp lý"

The significant decrease in the stock price caused the market price of each FPT Shop fall down to VND5,5 billion, which is unreasonable according to Ms. Nguyen Bach Diep.

From the beginning of 2019 until now, the stock price of FPT Digital Retail Joint Stock Company (FRT code) plummeted. At the end of 2018, FPT Retail’s stock price was at VND71.900 per share. At 28 March, the stock price of FPT is at VND48.000 per share, down more than 33%.

CEO FPT Shop: Giá trị mỗi cửa hàng FPT Shop khoảng 5,5 tỷ đồng là bất hợp lý - Ảnh 1.

Ms. Nguyen Bach Diep (holding the microphone), is giving speech at the FPT Retail’s Annual General Meeting of Shareholders 2019 – Photo: Hai Dang

“However, according to our evaluation, we consider that such price is far lower than the real value of FPT Retail”, a contributor of FPT Shop said.At the FPT Retail’s Annual General Meeting of Shareholders held on 27 March, after being questioned on such issue, Ms. Nguyen Bach Diep – the Chairman of FRT cum General Director of the Company – admitted that FPT Retail’s shares have just been listed for less than 1 year, the Board of Management is not experienced in the stock exchange, and they have no idea about why the stock price falls dramatically.

With the current stock price, Ms. Diep is calculating the market price of FRT of VND3,200 billion. If such price is divided to 570 stores of Long Chau and FPT Shop, the average value of each store is at VND5,5 billion.

Ms. Diep stated that such revaluation is unreasonable, because the cost of construction, inventory, brand costs, operating personnel, website with a high rate of access, switchboards, etc., in total, will exceed the amount of VND5,5 billion.

“If compared to other retail chains, even listed and unlisted chains, the value of each of their store is from VND20 to VND50 billion, therefore, it is not reasonable that the value of FPT Shop is VND5,5 billion.”

CEO FPT Shop: Giá trị mỗi cửa hàng FPT Shop khoảng 5,5 tỷ đồng là bất hợp lý - Ảnh 2.

A store of FPT Shop is about to open – Photo: Hai Dang

“The large scale and high profit of pharmaceutical industry are a direction for potential development of the Company,” added by Ms. Diep to prove that the market value of FRT is being evaluated incorrectly.With the acquisition of Long Chau drugstores since 2017 for business expansion, Ms. Diep said that there is high potential in the pharmaceutical retail industry. The scale of such industry is estimated to be at VND4,5 billion – the same as mobile industry – as a result, if FRT holds about 30% of the market share without the presence of any big retailers, FRT’s revenue can increase greatly from this new industry.

Although Ms. Diep does not know the reason for the dramatic decrease in the stock price, she thinks perhaps it is due to late payment, little transactions, which make the stock price go down.

“In general, we have recognized these issues and are having some solutions such as purchases of consulting service and we will have ways to improve the payment issue”, said the CEO of FPT Shop.

In 2019, FPT Retail has planned to reach the revenue of VND17,700 billion, profit after tax of VND418 billion, equivalent to the growth of 16% and 20%, respectively, compared to 2018. Ms. Diep revealed that in 2019, they will open 100 additional stores, reaching 633 stores in total. Besides the expansion in large central areas, the new stores will be available in residential areas of unexploited districts and communes.

In 2018, FPT Retail’s total revenue reached VND15,298 billion, up 16% compared to 2017. Online revenue was at VND2.432 billion, with the growth of 21%. Profit before tax reached VND435 billion, profit after tax reached VND348 billion, up 20% compared to 2017.

 

According to Hai Dang, ICTNews

13 May

The cooperation between FPT Shop and Nguyen Kim in selling televisions, refrigerators, air conditionings, and washing machines, etc.

With the new business in electronics, FPT Shop and The Gioi Di Dong are quite in common when they both sell mobile phones, electronics and medicines.

FPT Shop hợp tác với Nguyễn Kim, bắt đầu bán tivi, tủ lạnh, máy lạnh, máy giặt...

According to FPT Shop’s information, from 11 April, FPT Shop officially cooperated with Nguyen Kim Shopping Center.

FPT Shop revealed that the customers can look up for the products’ information, selling prices, promotions, installments and even make online orders of all the electronic products that are available at Nguyen Kim through FPT Shop’s electronic website. The price policies of FPT Shop is the same as Nguyen Kim’s.

The cooperation with Nguyen Kim will help FPT Shop to have a wide range of products, higher rate of access, which will increase cross-selling capability. Meanwhile, for Nguyen Kim, the sales through a website which has a high rate of access like FPT Shop will help boost their revenue.

Through observation, the products displayed on FPT Shop’s electronic website include air conditionings, televisions, washing machines, cameras, and household appliances, etc.

With the expansion to electronic industry, FPT Shop and The Gioi Di Dong are quite in common, they both sell mobile phones, electronics and medicines. However, FPT Shop has just cooperated with an electronics retailer, while The Gioi Di Dong has already had their own chain.

In reality, The Gioi Di Dong started to sell electronics since 2010, but it was not until the end of 2016, its business began to massively expand. At the moment, Dien May Xanh is the biggest electronic chain in the market with 766 stores gaining revenue of more than VND47,000 billion in 2018.

 

According to Hà My, Cafebiz

13 May

FPT Shop experimented with electronics business, not for the aim of gaining the market share

With the business expansion to the electronics field to take advantage of the online sales, FPT Shop said that the new business is being experimented, hence, they are not thinking about gaining the market share.

Mr. Ngo Quoc Bao, Director of the FPT Retail Center for E-Commerce and Technical Services, told ICTnews that FPT Shop has just experimented in selling electronic products via online channels, the business has not been officially implemented yet, so we now have not planned on how much we will gain the market share in such new industry.

On 11 April, FPT Shop officially launched electronic products on their website. All the electronic products available on FPT Shop’s website are provided by Nguyen Kim, a long-term electronics retailer in Ho Chi Minh City and many other provinces and cities nationwide.

A corner of Nguyen Kim Electronic Appliance Center – Photo: Hai Dang

FPT Shop is ranked second in the mobile phone retail system in terms of the number of chains. The biggest competitor of FPT Shop is The Gioi Di Dong, which has quickly opened a chain of electronics many years ago and is currently holding the largest market share in this segment. Electronics is the closest industry to mobile phones; however at the moment, FPT Shop is new in this industry, therefore they will surely face more difficulties.The new products of FPT Shop are launched also with the aim to increase revenue, in the context of forecasting the growth of mobile phones in Vietnam in 2019 by only about 1%, according to GfK.

“We have been researching this market many years ago and now is the right time”, Mr. Bao replied to ICTnews.

This cooperation is based on the optimal strengths of the two parties, Mr. Bao said, referring to the advantages of e-commerce segment of FPT Shop and a wide range of products as well as experiences in electronic sales of Nguyen Kim.

“The main aim is to take advantage of the optimal strengths, the variety of products, and to provide more special treatments to bring the customers to the main product of FPT Shop, this is not for the aim of gaining the market share”, Mr. Bao replied concerning the target of market share when expanding new business.

The cooperation to open the electronics business of FPT Shop was quite unexpected when such business was not included in the business plan of 2019 in the Annual General Meeting of FPT Retail this year, said the owner of FPT Shop.

In the first phase, electronics will only be sold online and not displayed at FPT Shop stores. Mr. Bao said: “The sales is initially conducted online because online channel is one of FPT Shop’s strengths that our counterparty in this project wants to take advantage of”. “After the process, the systems as well as the ability of coordination of the two parties have been completed, we will have a comprehensive evaluation for further cooperation”.

Before engaging in expanding business to electronic industry, FPT Shop has joined pharmaceutical retail business a few years ago. FPT Retail acquired Long Chau drugstores and planned to gain 30% of the pharmaceutical market share in 2022.

In 2019, FPT Retail has planned to reach the revenue of VND17,700 billion, profit after tax of VND418 billion, equivalent to the growth of 16% and 20% compared to 2018. FPT Shop revealed that in 2019, they will open 100 additional stores, reaching 633 stores in total. Besides the expansion in large central areas, the new stores will be available in residential areas of unexploited districts and communes.

In 2018, FPT Retail’s total revenue reached VND15,298 billion, up 16% compared to 2017. Online revenue was at VND2.432 billion, with the growth of 21%. Profit before tax reached VND435 billion, profit after tax reached VND348 billion, up 20% compared to 2017.

 

According to Hai Dang, ICTnews

3 Apr

“Powerful woman of FPT Retail: Only believe in myself, in the effectiveness of my work rather than what others think of me.

For the first time, Mrs. Nguyen Bach Diep, the “iron woman” of FPT Retail, was honored as one of the 20 most powerful women in business in 2019 on the list of 50 “Most Influential Women in Vietnam in 2019” chosen by Forbes Vietnam.

“Iron woman” Nguyen Bach Diep and her partners have brought FPT Retail from 17 stores, after 7 years of development, to become the second largest mobile phone retail chain in Vietnam with more than 500 stores from North to South.

On March 8, International Women’s Day, Mrs. Nguyen Bach Diep shared her entrepreneurial story as well as the business situation of FPT Retail.

– What is the number of F-Studio stores by FPT Retail, and the sales of each store? What is the current situation of Long Chau Pharmacy?

By the end of December 2018, the total number of F.Studio stores by FPT stores was around 14. Regarding Long Chau Pharmacy, the number of drugstores is 26 up to now. In the near future, FPT Retail will speed up the opening of new pharmacies with an average of 70 pharmacies / year and aim to have 400 Long Chau pharmacies nationwide by 2022.

The company also expects FPT Pharma to account for 30% of the market share which is equivalent to VND 10,000 billion of pharmaceutical revenue; and within the next 3-4 years, the pharmacies segment will contribute 40% to the revenue of FPT Retail.

Nữ tướng FPT Retail: Chỉ tin vào bản thân, công việc của mình có hiệu quả hay không hơn là người khác nghĩ về mình - Ảnh 1.

– What is business plan of FPT Retail in 2019? What are the long-term objectives and business strategy of the company in the next 5-10 years?

In 2019, FPT Retail’s expected revenue is 17,700 billion dong, pre-tax profit is expected to be 522 billion dong. In the near future, we will increase the investment in Long Chau pharmacy chain, which is a new direction and is forecasted to contribute to the future growth of FPT Retail.

In addition, we still focus on FPT Shop chain to maintain the growth and increase revenue. The investment is concretized by activities such as actively seeking customers and accessing multi-channel customers, promoting the deferred payment program for officials and employees at enterprises called F.Friends.

Besides, we continue to promote installment sale; invest heavily in phone accessory industry because this is one of the segments with great profits. Along with producing revenue, FPT Shop will improve the quality of service, which is also one of the core values that the company is holding onto: “Serving customers with care”.

– As known as the “iron woman”, what do you think about this?

I’m not sure when and how I got being called that way. I’m a bit hot-tempered, determined at work, and hard to accept something half-hearted, so I have argument with my boss often. I also do not accept an unclear explanation from employees. Anything must have a satisfactory explanation.

Moreover, I only believe in myself, believe in the effectiveness of my work rather than what others think of me.

Nữ tướng FPT Retail: Chỉ tin vào bản thân, công việc của mình có hiệu quả hay không hơn là người khác nghĩ về mình - Ảnh 2.

– Many people are tired and exhausted because of the work overload, what is the way that helps you to maintain your spirit, motivate yourself to do everything as planned?

For me, work is not a burden but actually a hobby. I don’t like the idea of quitting. When I do any job, I have to finish it. I do not accept being said that I could not complete my job. That is the driving force that makes me try constantly to achieve my goal.

I like to work, to maintain discipline. I’m a perfectionist and but also a hot-tempered woman. For me, once the promise has been made, it must be kept. There is one thing that I always keep in mind. When I choose to occupy a position, I have to do my best in that position. Instead of complaining, I should concentrate on doing my job well.

– What is the percentage of women in FPT Retail? How to win over your people so that your company can operate effectively?

In FPT Retail, the number of female employees accounts for more than 36% of total employees. For employees, we need to have a clear punishment and reward regime to in order to encourage but also help them to develop themselves.

Nữ tướng FPT Retail: Chỉ tin vào bản thân, công việc của mình có hiệu quả hay không hơn là người khác nghĩ về mình - Ảnh 3.

In the view of my administration, those who work with me, and follow me, I must ensure the rights for them. In return, they also know that working with me can be stressful, pressured. They have to satisfy many demands as well. But through that process, they would grow up. The most important thing is the sincerity. When we reward or punish them, it must be clear. Why are they given reward?  Why are they punished?

From the beginning, I have been determined to build a transparent, and fair working environment with a clear punishment and reward regime. But most importantly, there are always sincere sharing and encouragement from the boss to the staff.

 

– Can you share your story from being a salesperson to becoming a powerful woman at FPT Retail?

In the 90s, I was a student whose major was Business Administration. I applied for an internship as a seller at a FPT store. There, I had the opportunity to practice listening skills and setting goals for each specific milestone. I forced myself in a month to know how to advise customers to accept purchases, how to gradually increase the success rate. Then gradually increased my goals such as how to get into the list of best sellers in the store, then company.

Nữ tướng FPT Retail: Chỉ tin vào bản thân, công việc của mình có hiệu quả hay không hơn là người khác nghĩ về mình - Ảnh 4.

During nearly a year of working, although I did not receive any reward salary, the culture of respecting differences and appreciating the talents helped me to stick with FPT. As a result, I was appointed to the position of store manager.

Due to the young age and the lack of management experience, in the beginning, I had a lot of “objections” from the staff. Some even intended to “overthrow” me. At that time, I was angry at them but also at myself. I could not avoid being shocked for a while. After calming down, I found ways to communicate and help “disgruntled” employees achieve their work goals.

From the position of store management, I later had the opportunity to work at many different companies in FPT Corporation such as FPT Information System (FPT IS), FPT Mobile Technology Company Limited, FPT Telecom Joint Stock Company (FPT Telecom) and FPT Trading Company Limited (FPT Trading) …,

In 2010, FPT set up a joint venture project with Indonesia’s leading supermarket chain. I was trusted to be Alpha Mart Project’s Director. However, after one year of learning and getting to know the process, the system has just negotiated, FPT suddenly withdrew to focus resources on buying EVN Telecom, I returned to FPT Trading.

Nữ tướng FPT Retail: Chỉ tin vào bản thân, công việc của mình có hiệu quả hay không hơn là người khác nghĩ về mình - Ảnh 5.

At that time, FPT Trading was mainly a distributor but also carried out the retail segment, which led to the rejection from other partners. Therefore, FPT Retail was not taken good care of. Its profits was “just enough to support itself”.

In the first phase in 2012, FPT had 5 – 7 retail stores but mainly made “showrooms” for other firms. With the background knowledge learned from my Indonesian counterpart, I drew up a proposal of establishing an independent retail company and protected it before the FPT’s leaders. On February 1, 2012, FPT Retail was officially launched to implement the Group’s retail chain project.

What is your concept of a successful person? In the family, does the success of one partner cause pressure on the other?

I don’t think there is any pressure because in order for one partner to succeed, the other need to understand, sympathize, and support sympathy. For me, my husband always understands, shares family work and supports so that I can freely develop my career.

According to Minh Anh, Ha Mi

Vietnambiz

3 Apr

Nguyen Bach Diep – “iron woman” of FPT Retail

At FPT Retail, Mrs. Nguyen Bach Diep is known as the “iron woman” due to her determination at work. To achieve success, according to her, is to work hard as there is no easy roads to success.

.

Bà Nguyễn Bạch Điệp.

The “Trump card” of FPT Retail

Chairwoman and CEO of FPT Retail Nguyen Bach Diep appeared on the cover of Forbes Vietnam in March 2019 along with four inspiring female leaders, including Mrs. Mai Kieu Lien, CEO of Vinamilk; Mrs. Nguyen Thi Phuong Thao, CEO Vietjet Air; Mrs. Truong Thi Le Khanh, Chairwoman of Vinh Hoan and Mrs. Nguyen Thi Mai Thanh, Chairwoman and CEO of REE. Mrs. Nguyen is the youngest of all.

“I am truly honored to be chosen as one of 50 most influential women in Vietnam in 2019 by Forbes Vietnam, and to have a chance to stand next to the “older sisters” who are pioneers in various fields, from politics, business, management, research, social work … ”, Mrs. Diep proudly said.

Needless to say, in this list, for the first time, the “iron woman” of FPT Retail was honored as one of 20 most powerful women in the business sector in 2019.

Nguyen Bach Diep is a not-so-strange name in digital retail market. Over the past 7 years, with her colleagues, she has developed FPT Retail from 17 stores to the second largest phone retailer with more than 500 stores from North to South.

Despite its rapid expansion, FPT Retail still ensured the growth in depth, which was shown in business results in 2018 with the revenue of nearly VND 16,000 billion, profit after tax of VND 348 billion, rising by 20% compared to same period in 2017.

Witnessing a slowdown in the retail segment as the market was close to saturate, Mrs. Nguyen continued to hit the mark when FPT Retail participated in the pharmaceutical retail segment after successfully acquiring Long Chau pharmacy chain.

By the end of 2018, this pharmacy chain has 25 stores and plans to open 50 new stores in 2019.

Having been with FPT since graduating from university (1994), she had held many positions, from business staff to manager, and gained great experience in many areas such as Internet, telecommunications before participating in developing FPT Shop. There is no easy way to achieve success for business women like Mrs. Nguyen. Along with the increase in the number of selling points established and the growth in revenue, and profitability are the concerns and difficulties in finding places to open retail stores, predicting how the market will be, and keeping balance between work and private life to fulfill the role of a wife and a mother.

In 2012, FPT Digital Retail Joint Stock Company whose trade name is FPT Shop, officially operated. Since then, Mrs. Nguyen has occupied many important positions in FPT Retail. She is even considered to be the “trump card” of the company.

Recalling her working journey, she said to the reporter from Investment Magazine: “I have been with FPT Retail since the first days. In the beginning in 2012, FPT had only 5-7 retail stores, mainly were showrooms for firms. With the fundamental knowledge I learned from my Indonesian partner when I was in charged of the Alpha Mart Project as a Director, I worked out a plan which is a proposal to establish an independent retail company. I then defended it against FPT leaders. On February 1, 2012, FPT Retail was officially launched to implement the Corporation’s retail chain project”.

It was not as simple as it was said. The pressure that was on Mrs. Nguyen when establishing the company was unrelenting.

The most important thing when it comes to retail is to have a nice space, especially when the products were first launched. In the first 2 years, in addition to pressure to find places, the pressure of training employees in each region to meet the qualities to open the chain soon was also hard to deal with. There were many unsolved problems such as how to build the optimal process concerning goods returning to selling, the process of importing goods, goods delivery between chains, software systems for managing goods, money, website development …

Then FPT Retail made a remarkable progress when becoming an authorized Apple reseller in Vietnam with F.Studio by FPT system. Mrs. Nguyen shared: “There is no denying that Apple products appeal enormously to millions of people who are eager for new products when first launched. Additionally, Apple products are consumed all over the world, including Vietnam. However, if you buy Apple products through an unauthorized business, customers may buy fake products. If you buy iPhone locked (lock) from the US, Japan, the buyer must buy the code to unlock network or use a transparent SIM, which is relatively complicated. In the long run, the products become unstable and may be locked by Apple.

The establishment of F.Studio by FPT solved the problem of purchasing genuine equipment at an authorized business, helping users to avoid the limitations and shortcomings of products.

“I’m lucky to have my family understand.”

After the success and rapid growth of FPT Retail, Mrs. Nguyen admitted: “During the past time, due to the pressure from being a leader, especially during the time when FPT Shop was new to market, I once put my work before my family. In other words, I do not fulfill the position of a woman in a family. ”

Although there are many “imperfect” times, Mrs. Nguyen Bach Diep is a lucky woman because not only her family, but also a lot of her associates altogether help, and wholeheartedly support her.

“You know, if behind a successful man is a woman who silently sacrifices, then behind a successful woman is a group of people who silently sacrifice for her,” Mrs. Diep appreciated.

I am very fortunate to have my family sympathize and support me a lot. In return, I try to make use of any free time of the day for my family.

Mrs. Nguyen talked what brought her joy every morning with a voice filled with love and excitement: “Every morning, I wake up to prepare breakfast for the whole family. When I go to work, I take advantage of the time in the car to talk to my children. I work until 7 pm, then go home, have dinner, check my children’s homework. Sometimes after the kids go to bed, I check my email, then I actually take a rest.”

As a senior at the company, is it hard to be a wife or a mother when she’s at home? She said: “I am not a boss at home, which helps to show my respect the role of the man in the family. Besides, I also try to take up the same hobbies as my children so that whenever I have free time, the whole family can share something in common. Thanks to that, my children and I can get closer and closer.

Chat with businesswoman- Mrs. Nguyen Bach Diep

To be honored as one of 50 most influential women in Vietnam? How do you feel?

This is absolutely my honor, and also an unexpected great gift for me in the first days of the New Year. I would like to express my gratitude to Forbes for giving me this honor and to my family, my colleagues at FPT Retail who are always by my side through ups and downs. This is also a great encouragement for me to strive more in the future.

Business has never been easy, in which, digital retail is a specific field. What is your secret about bringing FPT Retail from 17 stores to Vietnam’s second largest retail phone chain with more than 500 stores from North to South after 7 years of development?

I don’t think it’s a “secret”. I’d like to call it as my personal experience.

Firstly, the important factor to develop a retail system is the location. It is necessary to select a good place.

Secondly, this is the fair profit. The organization must have an objective and honest evaluation system which is based on transparency and publicity.

Thirdly, never stop learning. Today must be better than yesterday and never be afraid to learn from the leaders.

You have been with FPT Retail since graduation, so what is the “attraction” that keep you stay at the company for that long?

There are 2 main things that help me stay with FPT Retail that long. Firstly, FPT in general and FPT Retail in particular have brought me great environment to develop, to demonstrate my abilities, to be recognized and to be trusted. Secondly, I have always fallen in love with my current job. Though the current environment is dynamic, it is also demanding so that I can conquer new challenges.

As the position you are in now, there are surely a great deal of  tempting invitations with better income, so was there a time that you felt tired of the work at FPT Retail that you considered to change your workplace?

On the last journey, although there were difficult times, I had never thought of that.

What is your way of relaxing when having days off? How do you “recharge” yourself?

My way of “charging” is simple. That is spending all my time with my family.

 

According to Hai Yen, Bao Dau Tu

3 Apr

Who is “Steel Woman” of FPT Retail who is in the Top 50 most influential women in Vietnam?

In the Top 50 most influential women in Vietnam recently honored by Forbes Vietnam is Mrs. Nguyen Bach Diep, CEO of FPT Retail, the “iron woman” of the second largest digital retailer in Vietnam.

Mrs. Nguyen Bach Diep

This year, there are  many new faces in the business sector such as Mrs. Tran Thi Dao (General Director of Imexpharm); Mrs. Tran Thi Lam (President of Hoa Lam); Mrs. Tran Kim Lien (Chairman of Vinaseed); Mrs. Le Hong Thuy Tien (General Director of IPP) and Mrs. Nguyen Anh Tuyen (General Director of Sanofi Vietnam).

Notably, among the business women who were honored was the name of Mrs. Nguyen Bach Diep, General Director of FPT Retail.

According to Vietnam Forbes, Mrs. Nguyen Bach Diep has occupied a crucial role in building and developing FPT to be successful as it is today.

The “iron woman” experienced many senior positions in many companies such as FPT Information System (FIS), The Corporation for Financing and Promoting Technology FPT (FMB), FPT Telecom (Ftelecom). She also attended the retail joint venture project with Alpha Mart- the second largest retailer in Indonesia in 2010.

Mrs. Nguyen Bach Diep is known as a calm and energetic person, the “iron woman” who made substantial contribution to the development of FPT Retail since 2011. From 17 stores to a system of over 500 retail stores, FPT Retail has become second largest retailer in Vietnam after The Gioi Di Dong.

Under the leadership of Ms. Nguyen Bach Diep, this business reached the revenue of VND 15,298 billion at the end of 2018, rising by 16% compared to 2017.

In which, online revenue made up 2,432 billion, up 21%; profit after tax in 2018 was VND 348 billion, rising by 20% compared to 2017.

In 2018, the total number of FPT Retail stores was 533. In comparison with the end of 2017, it had more 60 selling points. Moreover, the average sales per store reached VND 2.4 billion / month, which increased slightly compared to 2017.

Besides digital retail segment, FPT Retail also broke into pharmaceutical retail market after successfully acquiring Long Chau pharmacy chain.

In 2018, this enterprise officially announced the establishment of FPT Pharma, entering the pharmaceutical market with chartered capital of VND 100 billion, of which FPT Retail contributed VND 75 billion.

Mrs. Nguyen Bach Diep, Chairwoman of FPT Retail Board, represents all of FPT Retail’s contributed capital at FPT Pharma, and is the legal representative of the company as well.

By the end of 2018, this pharmacy chain has 25 stores and is expected to open another 50 points in 2019.

 

According to Nguyen Duc, ICT News

28 Mar

FPT Retail ‘iron woman’ wants to build FPT Retail to become the No. 1 retailer in the digital market

Setting an example to employees and putting sincerity on top of all are the principles of Mrs. Nguyen Bach Diep, Top 50 “Most influential women in Vietnam”, from the time when she was a store leader 6 years ago to now- when she has become the Chairwoman of FPT Retail.

Mrs. Nguyen Bach Diep is now known with many names such as the “iron woman” of FPT, “female general” of FPT Retail, “Top 50 most influential women in Vietnam”, and “Top 20 most powerful women in business ” chosen by Forbes. Under her management, FPT Shop has risen from the modest business when first launched more than 6 years ago to the second-largest phone retailer in Viet Nam, and ranked first in term of sales per sqm.

What is the secret behind the success of the “female general” leading over 5,000 “troops” and developing over 500 stores in 63 provinces and cities? In addition to building an efficient operating system, human resource management is an important key, in which “sincerity” is always the priority of CEO Nguyen Bach Diep.

The determination to take sincerity as human resource strategy

Chairman Nguyen Bach Diep said that in FPT Retail, she is determined to build a transparent and fair working environment. However, the most important thing is to have sincere sharing and great encouragement.

 Ba-Nguyen-Bach-Diep-TGD-CEO-5-3198-7683-

FPT Retail CEO Nguyen Bach Diep

Therefore, according to Mrs. Nguyen, when there is a problem, each person should look back to see if he commits an error first, then consider if it is other people’s mistakes. Gradually, the approach to problems becomes more sympathetic, and solutions are reached easier. She also acknowledged an issue. When the position gets higher, the workload increase, the leaders tend to be far from reality, and become more conservative.  When policies cannot be operated, listening to employees can help to solve the problem. The less sharing it is, the more misunderstanding it would be. That can lead to the fact that no one knows what others are doing, and are not able to be sympathetic toward each other.

“The most important key to solve all problems is sincerity. When you are sincere, you are not scared,” she concluded. Since then, the employees themselves must feel responsible, sincere, and want be a kind person to customers. “At that time, companies will grow firmly, and strongly,” said the FPT Retail CEO.

Leaders must work real hard

Sharing about the experience in building human resources, Mrs. Nguyen said, “to be an example” is a very important factor. The leader should be responsible for directing the “army” below. “I am the one who feels most clearly about how FPT Retail’s mission will go, how far it will go, and how many people will go,” she wrote in her letter to employees.

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According to Mrs. Nguyen, the leader should be responsible for guiding the entire staff and setting an example.

For setting up the service culture and the three core values ​​of Retailers (Dedicated to customers – Honest and responsible – Solid and supportive), she also committed to be the first person to pioneer, to preserve, and to follow “core values”. “If it is necessary to pressure the employees, then I must also be a role model, so that everyone can see how hard I work,” Mrs. Nguyen shared. The Chairwoman also found her fortunate to have an awesome team.

From the dedicated saleswoman to the store manager

In the last letter to employees in 2018, sharing about the principles of FPT Retail, the CEO emphasized “determination to build a strong Retailer from people to the culture of true service from person to person”. In fact, “being honest with each other” is what the chairwoman has chosen to act as a guideline for more than 6 years.

In the last year of college, she had a conversation with her classmate about the opportunity to intern at FPT. That was the very first chance for her to step into FPT with the position of saleswoman.

In the early days, everything was too new for the young employee. She did not know what to say to a customer when selling a machine. Many things like RAM, CPU, hard drive, keyboard, mouse… were strange to her. At that time her solution was “what you don’t understand, ask!”

She noticed that when she explained earnestly to customers the reason why they should buy this machine, not the others, customers then felt convinced and bought. The success rate at that time was very high: 6-7 out of 10 customers came buying products. It must be the first lesson that helped her to realize the importance of the principle “devotion to customers” and make it a prerequisite which is one of the three core values ​​that Retailers need to comply with.

When Vietnam opened the market, businesses set up more factories in Vietnam and bought hundreds of computers at a time. The store started growing up with a great deal of projects, contracts worth thousands dollar. The leaders acknowledged Mrs. Nguyen’s ability, and she was assigned to be the head manager.

She recalled when she took the responsibility as a head manager, she felt pressured and became very strict. The surrounding air was so increasingly suffocating that she herself did not even recognize. Until one day, when she happened to hear the staff in the shop discussing her reaction, she was surprised and very sad.

Spending a night thinking about the solution to handle it, she chose to support and share to customers, use her experience to consult when employees had issues with customers. Since then, the cooperation became better and people also sensed her sincerity. The boss and the staff conscientiously worked together, the store’s revenue constantly increased.

The female manager drew to a conclusion that when it comes to problem solving, attitudes are that what matters. She felt that passionate devotion would convince people, and chose that way.

Building a system of FPT Retail ‘empire’ to more than 500 stores and more

In 2012, Chairman Truong Gia Binh decided to separate retail from distribution to become an independent company. At the very beginning, she did not know how to start, what process to follow. With the motto from the very first days, “what I don’t know, ask,” she learned from her opponent and gradually developed FPT Shop with 543 stores now.

First, thanks to the help of other company members to build a management software system. However, these companies appeared to lack flexibility in the set-up phase with many changes, trials and fixes, resulting in increasing costs. The CEO offered a solution to set up an in-house team. “They understand that their work plays a vital part, so they work hard regardless time,” she said

 

Gradually, thanks to the rapid development strategy, the annual turnover of FPT Shop increased considerably. In 2018, FPT Shop system achieved revenue of nearly VND 16,000 billion, profit after tax reached VND 348 billion, rose by 20% compared to the same period. Average sales per store reached VND 2.4 billion / month. In mid-2018 Retail Asia magazine announced the list of top 500 retailers in the Asia-Pacific region, in which FPT Shop “jumped” from position 356 to 305.

In addition, at the beginning of the third quarter of 2018, FPT Retail established a subsidiary in the pharmaceutical segment, namely FPT Pharmacy. Mrs. Nguyen Bach Diep is also the legal representative. By the end of 2018, this drugstore chain has 25 stores and plans to open 50 new stores in 2019, average monthly sales of over VND 2 billion per store.

In 2019, FPT Retail aims to become the No. 1 retail business in the digital market, selling 1 million sim, 1,000 billion accessories. Installments make up 50% of revenue, collecting on behalf increases by 50%, and revenue reach more than 13 million per year. Besides, the Retailer advocates 2019 as “the year of 3 core values”.

According to ICT News

ĐHĐCĐ FPT Retail: Tham vọng lớn với mảng dược, mục tiêu 2018 tăng gấp đôi số cửa hàng Long Châu và dự kiến tăng 10 lần năm kế tiếp
2 Sep

FPT Retail’s General Meeting of Shareholders: The ambition with the field of pharmacy, the target is to increase the number of Long Chau stores double in 2018 and in the next year, increase in 10 times.

After joining 1 year, until the beginning of 2018, the number of Long Chau stores was 10 units, this year, they expect to increase this number to 30, soon towards the target of 400 stores.

 

ĐHĐCĐ FPT Retail: Tham vọng lớn với mảng dược, mục tiêu 2018 tăng gấp đôi số cửa hàng Long Châu và dự kiến tăng 10 lần năm kế tiếp

 

In 3 years time, the field of pharmacy will contribute 30-40% in the revenue

In 2017, many giant retailers such as Mobile World (MWG), Digiworld (DGW) và FPT Retail started to “engage” in the field of pharmacy with fast growth. However until now, when MWG said they do not hurry to deploy but they are only concentrating on Green Grocery, or DGW still have not had any rapid moves, FPT Retail has been revealing its big ambition in this field.

At the General Meeting of Shareholder at March 28, 2018, Mrs. Nguyen Bach Diep, the General Director at FPT Retail said that after 1 year joining, Long Chau chain’s drugstores have been doubled. Specifically, at the time when the Company started its investment in Long Chau, the chain of drugstores had only 5 stores, and after 1 year learning and developing the software system as well as taking over the supplies, FPT Retail had opened 5 more drugstores. Therefore, until the beginning of this year, Long Chau has reached 10 drugstores. It did not stop there, in 2018, the Company is planning to open 20 additional drugstores in HCMC area, and the number in the coming time is 100 stores/year.

Mrs. Diep also shared that the reason for them to select Long Chau chain when engaging in the field of pharmacy was that according to her observation, FPT Retail recognized that the number of its stores were more than others. Not to mention, the number of drugs in Long Chau was 6-7 times higher than that in others with the affordable price, therefore, there will be very few people take the Long Chau’s prescription to buy drugs in any other nearby drugstores. That led to the high revenue of Long Chau, and with 40% of the revenue from cosmetics, functional foods and medical equipment, it had helped the profitability of this chain outstanding compared to the general situation.

According to the plan, the revenue of the field of pharmacy will be calculated in the total revenue of FPT Retail since 2019, specifically, in 3 years, this field will contribute 30-40% in the Company’s total revenue.

FPT expects to make FPT Retail listed in HoSE before April 30, 2018

At the General Meeting, FPT Retail also submitted the business plan in 2018 with 16,200 billion VND in revenue – up 22% and 377 billion VND in net profit – up 30% compared to the result in 2017. With the above target, FPT Retail expects to divide in cash dividends of 20% and divide the bonus share with the ratio of 70%. With the current charter capital of 400 billion VND, it is predicted that after dividing the shares, the charter capital of the Company will increase to 680 billion VND.

According to the statistics, the business result of the first quarter of FPT Retail is still growing compared to the same period last year, to be specific: The revenue has increased 19% and the profit has increase 32%.

Answering this, Mrs. Diep share: “The profit margin is improved due to the Company’s cost optimization, specifically: to modify the working shifts of the employees during daytime, increase the shifts in rush hours and decrease when the customers are not crowded. Together with that, marketing costs are also being well managed by the Company”.

Additionally, Mrs. Diep said that her shares concerning the above situation were not inclusive of the revenue from the sales of the projects. If in total, the revenue in the first quarter of 2018 of the Company increased, the profit has been up 32% compared to the same period.

It is known that 2017 was the year that had many tremendous changes of FPT Retail concerning the ownership structures as well as the business results. The revenue of 2017 reached 13,147 billion VND, up 21% compared to 2016, the net revenue was up 40% to 290 billion VND. Besides that, in 2017, FPT Retail was massively deployed with the fact that FPT Retail reduced the ownership rate from 85% to 47%, bringing FPT Retail from its subsidiary to FPT’s associate company. The top two investment funds in Vietnam are Dragon Capital and VinaCapital which owns 20% and 15% respectively of FPT’s stocks.

Other noticeable news is that, FPT expects to make FPT Retail listed on HoSE before April 30, 2018 and the listing procedures have been submitted to HoSE. Regarding questions of the listing price of the shareholders, Mrs. Diep said that they could not public the listing price until that moment without the approval from HoSE.

FPT Retail also pushes the Apple Store when the retail market is saturated

Agreeing with the information that the mobile phone retail market has been saturated, Mrs. Diep said that that is the reason why along with three strategies to consolidate the existing retail business, FPT Retail’s new move is to extend the store chain of Apple Store. Specifically, the company is planning to open about 100 stores per year, expecting the number of stores will reach from 650 to 700 stores by 2020.

Currently, Apple Store is one of the chains belonging to F.Studio of FPT Retail. In particular, F.Studio is a store chain which is Apple’s official authorized retail chain in Vietnam, specializing in selling genuine Apple products, including the store at level 1 which is APR, level 2 which is AAR and level 3, CES. Until the beginning of this year, FPT Retail has reached 12 F.Studio stores.

In depth analysis of this strategy, the Company said Vietnam is the third market in Apple’s distribution channel, behind Thailand and Singapore. At the same time, with the growing market of Apple in Vietnam, while the volume of mobile purchases accounts for about 50% of the market, FPT Retail expects to attract the majority of customers concerning the purchase of genuine products in the future.

Until present, one of the competitive advantages of FPT Retail is to understand Apple and to meet its strict requirements of it (accounting for approximately 90% the total revenue of the mobile phone industry in the world). Therefore, with the two foreign companies, Gel and Thakral Brothers, FPT Retail has been selected by Apple to distribute the products.

In fact, this is not new to FPT Retail when in a meeting with the investors before that, the General Director has said: “If Mobile World (MWG) expands its business based on existing retail management by opening Green Grocery and Green Machine, FPT Retail is not an exception. And the Company has chosen Apple Store based on the strategy to continue exploiting Vietnamese market of Apple. Despite the low margins at the moment compared to other products, the high sales per product along with the accompanying product development strategy, the business in Apple products still have great potential growth”.

 

Tri Tuc

According to Cafe F

2 Sep

FPT Retail was quoted at 220 USD million having a big expectation for Apple products

The core strategy in the near future is that the company will develop F. Studio strongly by making use of the existing distribution channels to have a strong development for the Apple Store chain with a target of 100 stores in 2018.

 

FPT Retail chào sàn với mức định giá 220 triệu USD, kỳ vọng lớn vào sản phẩm Apple

 

40 million FRT shares of FPT Retail – the owner of FPT Shop – will be officially listed on HoSE on 26th April with the starting price of up to 125,000 VND/share.

This price corresponds to the capitalization of FPT Retail of 5,000 billion VND, which is equal to the valuation of the Mobile World when listed four years ago. This price is much lower than the price on the OTC market. At the end of March 2018, VFM and VinaCapital Funds recorded the value FRT shares of 140-150,000 VND.

Regarding the business situation, FPT Retail currently owns two retail chains:

(1) FPT Shop: The retail chain of technology products of various brands such as Sony, Nokia, Samsung, Dell, Acer, Toshiba, HP, etc.

(2) F.Studio: F. Studio is Apple’s official authorized chain in Vietnam, specializing in selling genuine Apple products, including the store at level 1 which is APR, level 2 which is AAR, and level 3, CES.

The target of 100 Apple stores until the end of 2018

The core strategy in the near future is that the company will develop F. Studio strongly by making use of the existing distribution channels to have a strong development for the Apple Store chain with a target of 100 stores in 2018.

Vietnam is the third market in the distribution channels of Apple in South East Asia, after Thailand and Singapore. At the same time, the scale of Apple market in Vietnam is increasing while the volume of mobile purchases is about 50% of the market (value of 450 thousand USD), the potentiality is seen, FPT Retail expects to attract a number of above customers in the genuine product store chains in the future.

Many countries in the world have 400-500 genuine Apple stores attracting a large number of customers, so that is the global trend and in the future, Vietnam will not be an exception. That is why FPT Retail are strongly focusing on Apple Store“, the General Director Nguyen Bach Diep added.

 

FPT Retail chào sàn với mức định giá 220 triệu USD, kỳ vọng lớn vào sản phẩm Apple - Ảnh 1.

Mrs. Nguyen Bach Diep, the General Director of FPT Retail

 

In order to carry on, FPT Retail said they will proceed to push the service (reimbursement, warranty, training, etc.) in order to attract customers, increase the competitiveness with the mobile products which have more affordable price thanks to the break in tax.

The Board of Director of FPT Retail also revealed new information which is they were proceeding with the rental service of Apple products in the future, for example, iPhone, iPad, etc. It means that the customers do not need to spend money to possess iPhone, they can rent iPhone and use it with a cheaper price.

The basis for this idea comes from the buying habit of Vietnamese people, typically Grab or Uber service which is very popular, many subjects from offices to vendors, from young to middle-aged people, etc. prefer to be taken by motorcycle. Therefore, FPT Retail plans to use this convenient model in the technology product’s segment, so far this is a relatively new and attractive service in the Vietnamese market.

What does FPT Retail have to satisfy Apple hard customers?

According to FPT Retail, until now, Apple has no concept of exclusive distribution of products in Vietnam, they understand that anyone can sell Apple products. One of FPT Retail’s competitive advantages is to understand Apple and meet its strict requirements (accounting for about 95% of the total profit of global mobile phone business). Not to mention, it is not easy to be distributed Apple products, because it takes a big cost to meet the rigorous criteria of this mobile giant in the world.

Accordingly, the representative of FPT Retail confirmed that it cannot be said that other competitors cannot sell Apple products, the issue is whether they have the decision to engage in this segment or not. Currently, with two foreign companies, Gel and Thakral Brothers, FPT Retail is a Vietnamese company chosen by Apple to distribute products with 12/15 total stores selling Apple products.

 

FPT Retail chào sàn với mức định giá 220 triệu USD, kỳ vọng lớn vào sản phẩm Apple - Ảnh 2.

 

In 2018, FPT Retail expects to raise the avenue to 16,020 billion VND, up 22% compared to 2017. The net profit is expected to increase 30%, up to 377 billion VND. At the same time, FPT Retail’s average growth plan for 2018-2020 is 19.5% per year in the revenue and 26% per year for the net profit.

In addition to the main field of digital business, in December 2017, FPT Retail has “set foot” in the pharmaceutical industry with the acquisition of Long Chau drugstore chain. Having answered the questions of shareholders about the development of pharmaceutical field, Mrs. Diep said that in the next 3-4 years, this segment will contribute 40% of FPT’s revenue. So far, the revenue of the pharmaceutical segment has come from three parts: one third from the hospitals, one third from the clinics and the doctors, the rest from the drugstores. FPT Retail has an ambition of holding 30% of the market share, equivalent to the revenue of 10,000 billion VND in pharmaceutical industry.

 

Tri Tuc

According to Cafe F