On January 10, we attended MWG’s opening ceremony and visited the company’s five new retail formats: AVASport (sporting goods; standalone store format), AVAFashion (apparel; standalone store format), AVAKids (mom & kid products; standalone store format), AVAJi (mass-market jewelry; shop-in-shop format) and AVACycle (bicycles; shop-in-shop format). These launches are part of MWG’s efforts to find new long-term growth drivers (along with BHX) as its mobile phone chain TGDD and consumer electronics chain DMX are set to enter a saturation phase. 

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