A customer looking for a book at Phương Nam Bookshop. Photo courtesy of the company

HÀ NỘI — Thiên Long Group has officially started its acquisition of Phương Nam Bookshop, a leading player in Việt Nam's retail book market. This transition marks a new chapter for both companies, resulting in a complete overhaul of Phương Nam's senior leadership team.

Recently, six top executives from Phương Nam Cultural JSC, including key figures like Vice Chairwoman and CEO Nguyễn Như Quỳnh and other board members, have resigned for personal reasons.

In their place, Thiên Long has appointed Nguyễn Tuấn Quỳnh as chairman of the board, Võ Thị Hoàng Quân as general director and Nguyễn Đình Thứ as deputy general director.

These new leaders bring a wealth of experience from various sectors, including publishing, retail, and fast-moving consumer goods (FMCG).

The acquisition, executed through Thiên Long's subsidiary, Tân Lực Miền Nam, started in the second quarter of 2025.

This strategic investment aligns with Thiên Long's long-term vision to expand its product offerings, particularly in the lifestyle and toy sectors, which have experienced growing consumer demand.

Phương Nam operates nearly 50 bookshops across Việt Nam, primarily located in prime areas such as shopping centres and popular tourist destinations in HCM City. This extensive network will enhance Thiên Long's distribution capabilities, allowing for better market penetration and consumer engagement.

Thiên Long has set ambitious financial goals for 2025, aiming for a revenue increase of 12 per cent to reach VNĐ4.2 trillion (US$161.3 million), with a target profit of VNĐ450 billion – a slight decrease compared to the previous year.

The leadership believes that the merger with Phương Nam will drive growth and open new opportunities in a competitive market.

Following the acquisition announcement, Phương Nam's stock has responded positively, hitting ceiling prices for two continuous sessions on June 4 and 5. — BIZHUB/VNS