Vietnam $4 Billion Conglomerate Masan Group Plans IPO in 2028 for CrownX Retail Business Unit WinCommerce at $10 Billion Valuation, WinCommerce Founded in 2014 & Has 3,600+ Supermarkets & Minimarts, Masan Group Started in 1996 by Co-Founder Nguyen Dang Quang & Incorporated in 2004 as Ma San Shipping Corporation (Renamed to Ma San Group Corporation in 2009 & Masan Group Corporation in 2015)
25th April 2026 | Hong Kong
Vietnam conglomerate Masan Group ($4.2 billion market value) is planning for IPO in 2028 for CrownX retail business unit WinCommerce at $10 billion valuation. WinCommerce was founded in 2014, and has 3,600+ supermarkets & minimarts. Masan Group was started in 1996 by co-founder Nguyen Dang Quang & incorporated in 2004 as Ma San Shipping Corporation (Renamed to Ma San Group Corporation in 2009 & Masan Group Corporation in 2015). WinCommerce – Founded in 2014, WinCommerce is the largest modern retail platform in Vietnam with more than 3,600 WinMart supermarkets and WinMart+/WiN mimimarts in 62 provinces nationwide. WinCommerce offers more than 20,000 items, from fresh food, dry food to home and personal care,…. catering the daily needs of consumers. Via strategic agreements with WinEco, WinCommerce has the stable supplies of vegetables and fruits of high value and meeting international standards provided from 14 high-tech farms. In 2023, WinCommerce launched WiN Membership program, which provides consumers with personalized, integrated offerings and year-round exclusive promotions. WinCommerce also have owned brands such as O’lala (eggs, sausages, ect.), Ngoc Nương (rice), WinMart Good (food), WinMart Home (home & personal care products). Masan Group – Masan Group Corporation was incorporated in November 2004 under the name Ma San Shipping Corporation. We officially changed our name to Ma San Group Corporation in August 2009 and were successfully listed on the Ho Chi Minh Stock Exchange on 5 November 2009. Our name was formally changed to Masan Group Corporation in July 2015 in order to be consistent with our corporate brand and practice. While the listed entity was formally incorporated in 2004, Masan, through our majority shareholder and our underlying operating businesses and their predecessor companies, has been in existence as a business group since 1996. As Vietnam develops economically, our consumers and their needs continue to evolve, moving beyond daily essentials to a wider array of tailored products, services and experiences that reflect their modern lifestyles and aspirations. Consumers are also increasingly tech-savvy and value convenience. Anticipating these changes, Masan Group has gone beyond being a producer of branded consumer goods and is well on its’ journey to becoming an integrated offline-to-online consumer-tech ecosystem.
“ Vietnam $4 Billion Conglomerate Masan Group Plans IPO in 2028 for CrownX Retail Business Unit WinCommerce at $10 Billion Valuation, WinCommerce Founded in 2014 & Has 3,600+ Supermarkets & Minimarts, Masan Group Started in 1996 by Co-Founder Nguyen Dang Quang & Incorporated in 2004 as Ma San Shipping Corporation (Renamed to Ma San Group Corporation in 2009 & Masan Group Corporation in 2015) “
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Vietnam $4 Billion Conglomerate Masan Group Plans IPO in 2028 for CrownX Retail Business Unit WinCommerce at $10 Billion Valuation, WinCommerce Founded in 2014 & Has 3,600+ Supermarkets & Minimarts, Masan Group Started in 1996 by Co-Founder Nguyen Dang Quang & Incorporated in 2004 as Ma San Shipping Corporation (Renamed to Ma San Group Corporation in 2009 & Masan Group Corporation in 2015)
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