HCMC – Vietnamese retail firm Mobile World JSC will close its AVASport stores in Vietnam and the Bluetronics chain in Cambodia this year.
AVASport is a chain of authentic sporting goods stores in Vietnam while Bluetronics is a household electronic appliance store chain in Cambodia, similar to the Dien May Xanh store chain in Vietnam.
The AVASport chain came into existence in Vietnam early last year. However, it has not been as profitable as expected due to weak demand in the domestic market and high business costs.
Due to complicated tax policy in Cambodia, prices of Bluetronics’ electronic goods are 10-15% higher than market prices, Doan Van Hieu Em, CEO of Mobile World JSC, told the media.
Bluetronics could not compete with other retailers in Cambodia.
The Bluetronics chain has been active in Cambodia since 2017. It had 50 stores in 2021, but the company has reduced the number to only two.
After its withdrawal from Cambodia, Mobile World will focus on the Indonesian market with its new EraBlue phone and electronics chain.