Mikko Nguyen has been the entrepreneur of six Gigants – Now he changes all at once to Powers

Electronics chain Power strengthens its position in Finland, when an entrepreneur Mikko Nguyen’s owned six A giant stores are changing brands at the beginning of April.

The stores are located in Järvenpää, Kotka, Salo, Klaukkala, Porvoo and Lohja, and they will operate as Power’s merchant-led stores in the future. The combined turnover of the six stores is around 50 million euros.

According to Nguyen, the decision was carefully thought out, but the process itself proceeded on a fast schedule. He responded to Kauppalehti’s interview request by email.

“I believe that with Power and with their help, we will be able to develop our operations and renew ourselves so that we can also meet customer expectations in the future,” Nguyen says.

“Power is a renewable and forward-looking operator that has grown and developed in the market in an impressive way.”

Nguyen does not elaborate on whether there have been changes in Gigant’s profitability, strategy or terms that would have influenced the decision.

“I won’t comment on contract issues in more detail,” he says.

Power already has its own stores in Porvoo and Kotka, but according to Nguyen, the region also has a strong customer base. According to him, the chain is responsible for possible network changes.

CEO of Power Finland Juha-Mikko Saviluoto said earlier in the press release that he sees the transfer as a significant confirmation of the chain’s market position. Power is actively developing its network.

“Our goal is to grow and develop our competitiveness systematically and long-term,” Saviluoto said in the press release.

For customers, the change is mainly visible in the brand. The stores will remain open almost without interruption, and warranty and maintenance matters will be handled through Power in the future.

Gigantti is responsible for deliveries, warranties, maintenance and additional services of products and services purchased from Gigant.

Power belongs to the Nordic Power International AS – group, and it operates in Finland, Denmark and Sweden in addition to Norway. Finland’s first Power was opened in Tammisto in 2016. There are currently 40 stores in Finland and 46 from April.

Gigantti is part of a Norwegian retail group and has a Norwegian background Electricity purchase-concern. The first store was opened in Finland in 1999. There are currently a total of 37 Gigant stores in Finland, but the number will decrease by six in April.