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The current state of Erablue Electronics
In today podcast Episode, let's take a look at the current state of Erablue Electronics.
Mobile World Group, a leading retailer in Vietnam, has announced that their Erablue stores in Indonesia are generating double the revenue of similarly sized Dien May Xanh (DMX) stores in Vietnam.
Erablue Electronics is a joint venture established in late 2022 between Mobile World Group and Erajaya Group, Indonesia's largest mobile device retailer. Despite its recent inception, Erablue has rapidly grown into the largest modern electronics retail chain in Indonesia.
As of July 2024, Erablue boasts 65 stores in the Greater Jakarta area, with 37 "mini" stores (280-320 sqm) and 28 "supermini" stores (180-220 sqm).
Mr. Nguyen Duc Tai, Chairman of Mobile World Group, highlighted the impressive performance: "Remarkably, EraBlue stores are generating almost double the revenue compared to a DMX store of the same size in Vietnam. Specifically, the 'M' size stores are achieving 4 billion VND (approx. 170,000 USD) in monthly revenue, while the 'S' size stores are reaching 2.2 billion VND (approx. 93,000 USD).
He attributed this success to the Erablue team effectively leveraging the experience and knowledge gained from operating DMX in Vietnam and even earlier ventures in Cambodia. This includes expertise in site selection, lease negotiation, store construction, layout optimization, IT systems, after-sales service, and customer service culture.
Mobile World Group aims to expand the Erablue network to 85-100 stores by the end of 2024, targeting revenue of approximately 85 million USD. Their ambitious long-term goal is to have 500 Erablue stores by 2027, requiring an average of at least 10 new store openings per month from 2025 to 2027.
At the same time, Mr. Doan Van Hieu Em, member of the Board of Directors of Mobile World Group and CEO of Erablue, revealed that the company aims to list on the Indonesian stock market by 2027. Regarding business prospects, Mr. Em expressed confidence in Erablue's rapid and efficient expansion in the near future.
He pointed out that the electronics and home appliance retail market in Indonesia remains fragmented. The largest chain possesses only around 60 stores despite the huge demand. Customers primarily travel by motorbike, and existing modern retail chains typically operate within shopping malls.
In contrast, Erablue strategically positions its stores on busy streets, enhancing visibility and accessibility for customers. Furthermore, EraBlue's same-day delivery and installation service, completed within approximately 4 hours, provides a significant advantage over the 7-10 day waiting period common with traditional retailers.
Thank you for listening to this episode on ManhHao PC, see ya in the next one!
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By Jackson WangIn today podcast Episode, let's take a look at the current state of Erablue Electronics.
Mobile World Group, a leading retailer in Vietnam, has announced that their Erablue stores in Indonesia are generating double the revenue of similarly sized Dien May Xanh (DMX) stores in Vietnam.
Erablue Electronics is a joint venture established in late 2022 between Mobile World Group and Erajaya Group, Indonesia's largest mobile device retailer. Despite its recent inception, Erablue has rapidly grown into the largest modern electronics retail chain in Indonesia.
As of July 2024, Erablue boasts 65 stores in the Greater Jakarta area, with 37 "mini" stores (280-320 sqm) and 28 "supermini" stores (180-220 sqm).
Mr. Nguyen Duc Tai, Chairman of Mobile World Group, highlighted the impressive performance: "Remarkably, EraBlue stores are generating almost double the revenue compared to a DMX store of the same size in Vietnam. Specifically, the 'M' size stores are achieving 4 billion VND (approx. 170,000 USD) in monthly revenue, while the 'S' size stores are reaching 2.2 billion VND (approx. 93,000 USD).
He attributed this success to the Erablue team effectively leveraging the experience and knowledge gained from operating DMX in Vietnam and even earlier ventures in Cambodia. This includes expertise in site selection, lease negotiation, store construction, layout optimization, IT systems, after-sales service, and customer service culture.
Mobile World Group aims to expand the Erablue network to 85-100 stores by the end of 2024, targeting revenue of approximately 85 million USD. Their ambitious long-term goal is to have 500 Erablue stores by 2027, requiring an average of at least 10 new store openings per month from 2025 to 2027.
At the same time, Mr. Doan Van Hieu Em, member of the Board of Directors of Mobile World Group and CEO of Erablue, revealed that the company aims to list on the Indonesian stock market by 2027. Regarding business prospects, Mr. Em expressed confidence in Erablue's rapid and efficient expansion in the near future.
He pointed out that the electronics and home appliance retail market in Indonesia remains fragmented. The largest chain possesses only around 60 stores despite the huge demand. Customers primarily travel by motorbike, and existing modern retail chains typically operate within shopping malls.
In contrast, Erablue strategically positions its stores on busy streets, enhancing visibility and accessibility for customers. Furthermore, EraBlue's same-day delivery and installation service, completed within approximately 4 hours, provides a significant advantage over the 7-10 day waiting period common with traditional retailers.
Thank you for listening to this episode on ManhHao PC, see ya in the next one!