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According to the Q1 2026 business report, DMX – the joint stock company that operates the ICT/CE retail chains such as The Gioi Di Dong/The World of Mobile (The Gioi Di Dong), Topzone, Dien May Xanh, EraBlue – is one of MWG's strategic pillars and is planning an IPO in Q2. In Q1 2026, DMX recorded total revenue of VND 32,613 billion, up nearly 30% year-on-year and achieving 26% of the annual plan. Net profit after tax was VND 2,206 billion, up 49% YoY, representing 30% of the full-year plan. Net profit margin improved to 6.8%. DMX noted that it will publish the official Q1 2026 financial statements after receiving approval to launch its initial public offering (IPO) of up to 179.5 million shares, equivalent to about 16.3% of outstanding shares, increasing charter capital to up to VND 12,808 billion. By segment, Topzone posted the highest growth at 42%; followed by The Gioi Di Dong at 34% and Dien May Xanh generating revenue more than 30% higher than a year ago. In product categories, phones rose 65%, followed by home appliances and refrigerators at 45%. By end of Q1, the DMX system comprises 2,006 Dien May Xanh stores, 929 The Gioi Di Dong points, and 85 Topzone locations, unchanged from the start of the year. EraBlue, the Indonesian retail chain, posted revenue of IDR 906 billion (about VND 1,400 billion). Average store revenue in Indonesia is 1.5–2.6 times that of stores of the same size in Vietnam. EraBlue operates 212 stores and aims to reach 500 by 2027 and 1,000 by 2030. Notably, EraBlue is expected to erase cumulative losses in Q3 2026. In consumer finance, DMX’s installment revenue grew 50% as 97% of products have installment payments. The company reported 18 million transactions with total banking value around VND 27,000 billion. For DMX’s Handyman service, quarterly revenue reached VND 700 billion, up 45% YoY (internal revenue share 82%, external 18%). Regarding the Super App, revenue reached VND 2,000 billion with 44 million visits, and average order value via the app rose 28%. The Super App aims to become an “online mega-market” with strengths including integration of physical stores, DMX Handyman service, and consumer finance.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
