Hoa Sen (HSG) seeks 500 prime locations to expand its building materials retail chain

Hoa Sen (HSG) seeks 500 prime locations to expand its building materials retail chain

In a recent announcement, Hoa Sen Group said it is accelerating efforts to scale up its Hoa Sen Home network across Việt Nam.

A view of Hoa Sen Home in sourthern province of Bình Thuận. — Photo courtesy of the firm

Hoa Sen Group is looking to lease between 300 and 500 commercial spaces nationwide, each ranging from 1,200 to 3,000 sq.m, as part of its plan to expand the Hoa Sen Home building materials and interior retail chain.

In a recent announcement, Hoa Sen Group said it is accelerating efforts to scale up its Hoa Sen Home network across Việt Nam. The company is calling on organisations, businesses and individuals with suitable property assets to partner in expanding and operating the retail system.

Specifically, the group is seeking properties with a minimum frontage of 30 metres in high-visibility, strategic locations, with lease terms of at least 10 years.

This move is part of Hoa Sen Group’s long-term strategy to transform Hoa Sen Home into a key driver of future growth.

This year, Hoa Sen Group plans to invest more than VNĐ1 trillion (US$38 million) in developing its retail system. Of this, VNĐ400 billion will go towards store expansion, VNĐ500 billion for warehouse infrastructure, VNĐ60 billion for technology, and VNĐ100 billion for marketing.

The group expects to invest around VNĐ6 trillion in the Hoa Sen Home system between 2025 and 2030.

Since its launch in 2021, Hoa Sen Home has expanded to 120 stores nationwide as of the end of March. The company plans to open 20 more outlets in 2025, bringing the total to 140. From 2026 to 2030, it aims to open an additional 25 to 35 stores each year, targeting 300 locations by the end of the decade.

Hoa Sen Home generated VNĐ13.3 trillion in revenue in 2024. It aims to increase this to VNĐ15 trillion in 2025 and expects to reach VNĐ33 trillion by 2030.

The group forecasts a compound annual growth rate (CAGR) of 16.3 per cent for the 2024–30 period, with Hoa Sen-branded product lines projected to grow at a CAGR of up to 50 per cent. 

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