Story-i launches into Vietnam
Oct 23, 2015
Apple reseller Story-i has launched in Vietnam hoping to replicate its Indonesian market success.
The Singapore-headquartered electronic authorised reseller has opened its first Apple Premium Reseller (APR) store in the new SC VivoCity Mall in Ho Chi Minh City in Vietnam.
The opening of the first store in Vietnam marks Story-i’s 17th outlet. The company owns and operates 16 stores throughout Indonesia, selling Apple, Samsung and Lenovo products.
Story-i chose Vietnam as its next new market because of its “similar demographic and lifestyle consumer trajectory to Indonesia”.
Management has identified Vietnam with 92 million population as the next high growth market and aims to open eight more outlets during the next three years.
Said executive director Michael Chan: “This new store in Vietnam marks the beginning of our growth strategy to penetrate the expanding middle class of Southeast Asia’s population of 600 million. As we have done in Indonesia, we will anchor growth from prominent store locations and drive market penetration with our eCommerce offering.”
He said the team was focused on rolling out a unique mix of electronic lifestyle products such as Apple and Lenovo as well as its enterprise solution and education services into Vietnam.
“Our first Vietnam store continues to exceed our expectations for visitation and sales. This bodes well for extending the network through the smaller cities up to the northern capital, Hanoi.”