TheCrownX is the consumer retail arm of Masan Group, formed last year by combining its Masan Consumer unit and VinCommerce. It brings together Masan's food and beverage brands with VinCommerce’s supermarket and convenience-store network, including VinMart and VinMart+. VinCommerce operates about 2,300 outlets and reportedly commands roughly 50% of Vietnam’s grocery retail market. The company is pursuing an omnichannel e-grocery strategy, partnering with Lazada to become the platform’s preferred grocery retailer, use physical outlets as pick-up points, and share data, analytics and logistics capabilities. Masan's leadership says the partnership will accelerate TheCrownX’s transformation into a one-stop shop for everyday consumer needs offline and online and help modernize Vietnam’s grocery market. TheCrownX is valued at $6.9 billion following the $400 million investment that gave the Alibaba-led consortium a 5.5% stake. Masan is in advanced discussions to secure up to $400 million in additional external investment by the end of the year.

Total raised

$400M

Funding rounds

1

Latest round

Equity

Latest activity

May 2021