According to the 2025 business report from Mobile World Investment Joint Stock Company (MWG), its subsidiary Bach Hoa Xanh recorded revenue of nearly VND 46,900 ty, marking a 14% increase compared to 2024. On average, the chain generated over VND 128 ty in revenue daily.

This represents a record figure in the 8-year operating history of the food and consumer goods retail chain. Bach Hoa Xanh has also achieved three consecutive years of revenue growth.

MWG did not disclose Bach Hoa Xanh’s specific profit figures. They stated that 2025 was the second consecutive year the chain was profitable, with growth "many times higher than in 2024".

This outcome follows a year in which Bach Hoa Xanh opened 789 new stores, expanding its total sales points to over 2,500 supermarkets. This marks the chain's most aggressive expansion year to date, with a growth rate ten times that of the previous year. As a result, Bach Hoa Xanh has become the retail chain with the widest network within the MWG ecosystem.

Additionally, the management reported serving over 7 million online transactions. This channel contributed approximately VND 2,300 ty in revenue, accounting for nearly 5% of the chain’s total revenue, representing a 150% increase over the same period.

In 2025, Bach Hoa Xanh experienced growth across most major product categories, despite only slight growth in the overall consumer goods market. Specifically, fresh food sales increased by 5-15%, while fast-moving consumer goods recorded a 5-20% increase.

By launching 789 new stores, the retail chain exceeded its initial plan of 600 stores. Nearly 50% of these new sales points are concentrated in the Central region. Concurrently, the chain officially established a presence in the Northern region, marking the initial phase of its nationwide expansion strategy.

However, the extensive new openings led to a decrease in average monthly revenue per store, falling to just over VND 1,5 ty. Previously, the chain had reported figures exceeding VND 2,1 ty.

In a recent report, Kafi Securities suggested that Bach Hoa Xanh is leading the trend in meeting the growing demand for modern retail models, leveraging its competitive advantage in fresh food. After beginning to record profits in 2024, the chain restarted its expansion activities.

Based on updated guidance from management, Kafi Securities estimates that Bach Hoa Xanh will open 800 to 1,000 new stores in 2026 and 2027, respectively, primarily focusing on the Northern and Central regions.

A Bach Hoa Xanh employee processes a customer's payment. Photo: MWG

Bach Hoa Xanh contributes 30% of MWG’s total revenue. This proportion continues to exceed that of The Gioi Di Dong’s mobile phone and electronics business, ranking only behind the Dien May Xanh chain.

Overall, MWG reported a revenue increase of over 16% to VND 156,166 ty. This marks a record level in the more than 20 years of operation for Nguyen Duc Tai’s retail "empire".

Looking ahead, VNDirect anticipates Bach Hoa Xanh will continue to be MWG’s primary growth driver in 2026, based on improving store-level efficiency, optimizing product portfolios, and implementing stricter cost controls following the completion of its restructuring process.

However, analysis indicates that new, smaller grocery store models located in new areas will likely have lower sales per existing store compared to the older Bach Hoa Xanh urban models. This could result in a decrease in average revenue per store in 2026.

Tat Dat