•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Vinasun taxi leadership says the company has faced competitive pressure from ride-hailing firms for ten years, but remains steady and has very strong resilience. Most shareholder questions at the annual general meeting on the morning of April 22 focused on regaining market share from Grab and Xanh SM. Some shareholders proposed changing marketing approaches, pricing policies, and ride-hailing app strategies to win back customers. In response, Tran Anh Minh, Vinasun's deputy general director, said the market-share race with ride-hailing tech firms has lasted many years, and competition next year will be higher than this year. The company is not daunted by this reality, and will focus on the top objective of being profitable every year. "Since competition began in 2015, the brand has remained solid. Vinasun is seeking and launching new business projects to ensure resilience remains very strong," Minh said. In an interview with VnExpress, Ta Long Hỷ, chairman of Vinasun's board, said many traditional brands have fallen in the market-share race against ride-hailing firms like Grab and Xanh SM. The positive signal is that Vinasun can continue operating, plan slow growth, and wait for an opportunity to accelerate. Vinasun used to be a traditional taxi operator with market share in the southern region. At its peak in 2016, the company employed more than 17,000 people (primarily drivers) and had revenue of over VND 4,500 billion. Competitive pressure from ride-hailing apps such as Grab and Uber at the time and Xanh SM in recent years has gradually eroded the company’s results. Last year, Vinasun reported revenue of VND 882 billion, the lowest in 17 years. After-tax profit also fell by about half from the same period, to under VND 40 billion. In the shareholder meeting materials at the end of this month, management said 2026 will still be a year with many difficulties, including tighter consumer spending and competition from rivals in the same industry. The company plans revenue to rise slightly by about 2%, to nearly VND 903 billion. However, after-tax profit is expected to continue declining, to around VND 32 billion. Besides the traditional taxi and contracted passenger transport segments, Vinasun is seeking new opportunities in transport, technology, consumer, and payments. The company plans to invest more than 300 new vehicles this year, focusing on hybrid models to lift the fleet to about 2,350 vehicles.
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…
