Vietnamese retail giant Mobile World Group (MWG) has launched its first brick-and-mortar location in Indonesia under the name Era Blue Electronic. This joint investment is between MWG and local distributor PT Erafone Artha Retailindo, a subsidiary of Erajaya Group. MWG has invested USD 7.3 million and holds a 45% stake in the joint venture. Van Hieu Em, Mobile World chain CEO, said the new joint venture expects to gain a market share of 20-40% in Indonesia over the next five years and follow this up with an IPO. Era Blue plans to open four more stores by the end of this year.
Mobile World Group is a leading Vietnamese retail and distribution company, operating a number of retail stores, including Thegioididong and DienmayXanh, which sell a variety of consumer electronics and household appliances. It distributes mobile phones, tablets, laptops, and other electronics from major manufacturers such as Samsung, Apple, and Huawei, and is one of the most popular electronic retail stores in Vietnam. It has tested various retail concepts in Vietnam such as AvaFashion, AvaSport and Avakids brands, and the AvaCycle bike shop.
Meanwhile, Erafone is one of the largest technology goods retailers in Indonesia, with a network of more than 1,200 stores that specialize in telecommunications equipment, tablets, laptops and other products.
(Sources: Theinvestor.vn; Inside Retail)