Digiworld, trading under the ticker DGW on the Ho Chi Minh Stock Exchange, is a Vietnamese technology company specializing in the distribution of computers and electronic devices, office equipment, home appliances, and consumer goods. The company serves as a distributor for various global brands, including Apple, Samsung, and Microsoft.

In the first half of 2024, Digiworld achieved revenue of US$400 million, representing a 17 percent increase compared to 2023 with net profit rising by 12 percent. This growth was driven by a broader economic recovery, which led to increased consumer spending. In 2024, the firm is aiming for 70 percent growth in the fast moving consumer goods segment.

As the core business of Digiworld, the electronic devices segment has been challenged by declining demand and intense competition–in the broader market, electronics retail chains like FPT Shop and Mobile World, have also closed a number of underperforming stores. With this in mind, Digiworld has implemented a horizontal development strategy, which involves adding new brands and entering new industries through mergers and acquisitions.

“…Every quarter, every year, in the product portfolio of DGW, there will always be a new face,” according to DigiWorld’s second quarter 2024 newsletter.

Two recent M&A deals were Achison, a distributor of personal protective and industrial equipment, and B2X Care Solutions, a provider of customer service for electronics retailers.

Disclosure: The author does not have any financial interest in DGW stock.

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