TopZone opened the second genuine APR store in Ho Chi Minh City, only 2 months after the first store in Hanoi, something other chains have not been able to do for several years.
The morning of April 12, TopZone opened the first APR (Apple Premium Reseller) store in Ho Chi Minh City and is the 2nd premium authorized store nationwide. Accordingly, TopZone becomes the first authorized Apple brand to have 2 or more high-end stores.
This store has an area of 265m2, much larger than the first TopZone ARP in Hanoi (182m2). Therefore, it is the TopZone store with the largest area today, and also the largest high-end store following Apple’s mono brand model in Vietnam.
It is quite interesting that in this 2nd APR store, in addition to the usual Apple products such as iPad, iPhone, Airpods, Macbook…; we can also see mini or mid-sized speakers from JBL or Sony. The number of experience tables has also increased significantly, up to 16 tables and there is an additional Service Room area to handle complaints, exchange, installation … for customers and the fastest accompanying services.
According to The Gioi Di Dong, in order to achieve the highest standard of Apple’s authorized dealer, partners need to go through strict processes to ensure everything is as neat and as close to Apple’s requirements as possible. Therefore, most of the Apple Mono Store chains in Vietnam only stop at one high-end store as mentioned above.
The opening of the second high-end store only 2 months after the first store, is MWG’s outstanding efforts. Because according to them, normally, to open such a high-end store, it takes time that can be up to several years. Even many brands are not reputable enough to be invested by Apple to launch any high-end stores over the years.
Mr. Doan Van Hieu Em – CEO of The Gioi Di Dong and Dien May Xanh chain
“Talking about opening stores, Mobile World has no shortage of potential as well as implementers, but the reason why we have only opened 31 stores so far is because we still have to follow the strict standards of Apple. Both the materials on the wooden floor or the podiums in the ARP Khanh Hoi store – HCMC are imported from the US“, said Mr. Doan Van Hieu Em – CEO of The Gioi Di Dong and Dien May Xanh chain.
According to the previous plan, TopZone will have about 50 to 60 stores after the end of the first quarter of 2022. At the current rate, Mobile World’s goal of 200 TopZone stores by the end of 2022 will be very difficult.
Unlike the opening speed, the revenue of TopZone stores is higher than the expectations of the Mobile World Leaders. When launching the TopZone chain in October 2021, they think that the expected revenue for each AAR store is 2-3 billion VND/month and each APR store is 8-10 billion VND/month.
Fact: after 10 days of opening, 4 TopZone stores have contributed 40 billion VND (1 billion VND/store/day). In February 2022, MWG calculated that under the most normal conditions, each TopZone store is expected to bring in 8-10 billion VND.
TopZone APR Khanh Hoi store was crowded with thousands of people on the opening day.
“Ho Chi Minh City is considered a large and vibrant market, so we have high expectations for this second APR store opening with a revenue target of VND 10 billion on the opening day and VND 18 billion in the first month. of the first APR store in HCMC“, Mr. Doan Van Hieu Em continued.
The Apple product market in Vietnam is about 1.5 billion USD in 2021 and with sales already, MWG accounts for about 1/3 of the market share. By 2022, the total market size is predicted to be 1.6 billion USD, MWG set a revenue target of about 750 million USD – corresponding to their Apple market share in Vietnam increasing to about 45%, respectively.
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