Quadria Capital, Asia’s leading healthcare investment fund, has invested $90 million in Vietnamese mom and baby product chain Con Cung.
Quadria said Tuesday the money would be used to open more stores in Vietnam, with the number reaching 2,000 by 2025, and develop an all-in-one super app to offer personalized products and services.
Con Cung will launch one big Super Center every month with facilities like a playground and a coffee shop starting this month. It plans to have 200-300 of them around the country by 2025.
"We aspire to become an all-in-one destination for Vietnamese mothers, where they can find everything they need to take care of their babies, Con Cung chairman Minh Nguyen said.
"To meet all their needs, expanding both offline and online ... is inevitable".
Established in 2011 Con Cung now has over 600 stores in 45 cities and provinces that sell maternity and baby care products like infant formula, diapers, nutritional food, vitamins, and clothing.