The CrownX
Funding History
| Final Capital Raise (TPG / ADIA / SeaTown) · 12/2021 | $105.00 |
|---|
About
The CrownX is headquartered in Ho Chi Minh City, Vietnam, and is the consumer-retail holding platform of Masan Group Corporation (HOSE: MSN). It consolidates Masan's stakes in Masan Consumer Holdings and WinCommerce, the country's largest modern retail chain by store count, which trades under the WinMart, WinMart+ and WiN banners.
- CEO
- Philippe Jean Broianigo (Deputy CEO; no sole CEO)
- Headquarters
- Ho Chi Minh City, Vietnam
- Founded
- 2020
Overview
The CrownX is an integrated consumer-retail platform formed by Vietnam's Masan Group in the first half of 2020 to combine its interests in Masan Consumer Holdings, a leading Vietnamese food-and-beverage producer, with VinCommerce, the operator of the WinMart (formerly VinMart) supermarket and WinMart+/WiN convenience store chains acquired from Vingroup in 2019. The CrownX is majority owned and controlled by Masan Group and operates what Masan calls a "mini-mall" concept, pairing WinMart+/WiN grocery stores with Phuc Long coffee kiosks, pharmacy counters, Techcombank banking services and mobile-payment options under one roof. Between 2020 and 2021 The CrownX raised more than $1.5 billion in primary and secondary capital from global institutional investors including Alibaba Group, Baring Private Equity Asia, SK Group, TPG, the Abu Dhabi Investment Authority and Temasek Holdings, valuing the business at up to $8.2 billion. WinCommerce, the retail subsidiary, turned profitable in mid-2024 after more than a decade of losses under prior ownership and has continued expanding its store network through 2025.
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