Trinh Thanh Nhon, in his sixties, is a man in a hurry. Trinh Thanh Nhon created the Da Lan toothpaste. Photo by VnExpress/Anh Nguyen Nhon, who created the Da Lan toothpaste, is now working hard to realize his dream of restoring the brand he lost two decades ago. At his factory in the Binh Duong province’s Dong An Industrial Park, he walks quickly between production zones, observing employees transport goods, adjust machinery and do other things. How it began The Da Lan toothpaste was created by Nhon's Sonhai Cosmetics Company in 1988. From his five-story factory in Ho Chi Minh City's District 6, the product quickly conquered the Vietnamese market and by the early 1990s, Da Lan had become a household name, earning significant profits for Nhon. With a market share of 70 percent, Da Lan soon became a much-desired partner for the flood of foreign companies that were trying to enter Vietnam following the opening up of the country's economy at the time, including multinational … [Read more...] about ‘A joint venture with Colgate was my biggest mistake’
Joint venture brand
Local dairy industry will have to compete with foreign brands under CPTPP
Vinamilk’s organic dairy farm in Da Lat. To meet higher demand in the future, dairy processing enterprises in Viet Nam have expanded farms to increase milk supplies. — VNA/VNS Photo Pham Kha The domestic dairy industry will face competitive pressure this year due to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to a report of the Rong Viet Securities Company (VDSC). The VDSC believes that Viet Nam’s dairy brands will face fierce competition from foreign brands because when the CPTPP came into effect in Viet Nam on January 14, import tariffs on dairy products from New Zealand, Singapore and Japan were cut to zero, making these product lines more competitive. In addition, local consumers are more concerned about their own health and have improved awareness of nutritional products so they have become more demanding. They now prefer high-quality, organic milk products as well as those from walnuts and macadamia nuts. … [Read more...] about Local dairy industry will have to compete with foreign brands under CPTPP
Dozens of Vietnamese firms honored for their branding activities
(VEN) - Almost 100 Vietnamese producers have been selected to receive the Vietnam Value title of national brand producers this year from among some 1,500 enterprises that registered or were nominated. The bi-annual Vietnam Value program aims to improve local businesses’ awareness of brands and ability to build, develop, and protect them. With its high requirements and strict reviewing and grading criteria, the Vietnam Value program has contributed to positioning Vietnamese brands in export markets over the past decade. Professor Nguyen Quoc Thinh, a consultant to the Vietnam Value program, said the number of businesses in the Vietnam Value program has grown, proving improved awareness in terms of the role of brand development. The revenues of 81 companies from among the 88 businesses granted the Vietnam Value 2016 title reached more than VND718 trillion in 2017 and export turnover totaled over VND70 trillion, allowing them to pay more than VND55 trillion to the state budget. … [Read more...] about Dozens of Vietnamese firms honored for their branding activities
Nutifood, Asashi set up joint venture
The newly-established joint venture, named Asahi-Nutifood, will provide nutritional products for children which are produced under Japanese standards in Vietnam’s market. Especially, these products will be made under formula by Nutifood’s nutritionist to suit the physical conditions of Vietnamese children. Capital contribution ratio of two firms was equal. In the initial stage, the products will still be made in Japan. The manufacture of its products in Vietnam remained under discussion. Asahi is a leading company in Japan in producing and trading dairy products, including formula and baby foods, and beverages like beer and soft drinks. It is the owner of Wakodo – the top baby food brand in Japan. Total revenue of the company exceeded two trillion Japanese yen, or US$19 billion, in 2017. Mr Shoyama Katsuo, chairman of Asahi Group Foods, said that Vietnam was a potential market and his company hoped to make its products widely available in the country so it decided … [Read more...] about Nutifood, Asashi set up joint venture
World major brands flock to Vietnam retail market
The presence of global leading companies in Vietnam, including Aeon Mall, Auchan, Lotteria, Starbucks, among others, shows the huge potential and attraction of the country’s retail market, the government portal reported. Multinational companies expand operation Starbucks opened its first shop in Ho Chi Minh city in 2013. Now, five years later, the coffee house chain is operating 34 shops. Lotte Mart, the retail division of South Korean conglomerate Lotte Group, also planned to open 60 stores in Vietnam by 2020, while South Korean leading retailer GS Retail is expected to open 2,500 convenience stores in Vietnam in the next 10 years through its joint-venture GS25 Vietnam. Japan’s Family Mart currently has 130 stores in Vietnam and expected to open 700 more by 2020. Similarly, the US food retailer 7-Eleven made its presence in Vietnam in June 2017 and planned to open 100 stores by 2020 and 1,000 in the next ten years. Recently, e-commerce giant Amazon also … [Read more...] about World major brands flock to Vietnam retail market
BMW plans to take control of China joint venture
German luxury carmaker BMW announced Thursday (Oct 11) a plan to take control of its China joint-venture, the first foreign automaker to take advantage of Beijing's new ownership rules for the sector. German carmaker BMW is to take control of its China joint-venture with Brilliance China Automotive AFP/WANG ZHAO BMW will acquire a further 25 per cent stake in the venture with Brilliance China Automotive for €3.6 billion (US$4.2 billion), the company said, bringing its stake to 75 per cent by 2022. Foreign automakers have long been restricted to holding no more than a 50 per cent stake in their China operations, but Beijing decided to relax the ownership caps this year. The reforms are part of Beijing's plan to further open its economy to foreign business, after years of facing pressure from the United States and Europe. But US and European business groups say the reforms have still not gone far enough, and have pushed for further opening. To force the issue, and to hit … [Read more...] about BMW plans to take control of China joint venture
Vinfast establishes $60 million joint venture with Aapico Hitech
The joint venture between Vinfast and its Thai partner to manufacture Body in White shows the corporation’s commitment to increase the localisation rate of its products. Vinfast and Thailand's leading auto parts manufacturer will boost the localisation rate of Vietnam's very own car brand On June 11, Vinfast signed a Memorandum of Understanding (MoU) to set up a joint venture with Aapico Hitech Plc., one of Thailand’s leading auto parts manufacturers with a market cap of $400 million, to set up a press shop and assembly operations in Vinfast’s Supplier Park in Haiphong. The purpose of the joint venture is to supply BIW (Body in White) parts for the first two models of Vinfast vehicles—a Sedan and a SUV—to be produced by the third quarter of 2019. Covering an area of 9.1 hectares in Vinfast’s Supplier Park, the project has the total investment of $60 million, with 51 per cent holding of Aapico and 49 per cent of Vinfast. "We … [Read more...] about Vinfast establishes $60 million joint venture with Aapico Hitech
Long fall of Vietnam’s once iconic milk brand
Four months after returning to trade on the stock market, once famous milk brand Hanoimilk once again faces the risk of compulsory delisting for being late with its audited financial reports. Hanoimilk's most popular product, the IZZI milk. Source: vnexpress.vn According to the Hanoi Stock Exchange’s document sent to Hanoi Milk JSC (Hanoimilk, code: HNM) on May 14, the company has been delaying submitting its audited financial reports during the past three years (2015-2017). Last July, the trading of the company shares was suspended for similar reasons. The document also stated that Hanoimilk may be delisted from the stock exchange in accordance with the government’s Decree No.58/2012/ND-CP on detailed regulations and guidelines for the implementation and amending some articles of the Law on Securities. Talking with VIR about the risk of compulsory delisting, Hanoimilk’s representative said: “We are working with the Hanoi Stock Exchange to resolve this … [Read more...] about Long fall of Vietnam’s once iconic milk brand
Brands from past make comeback
At its annual general meeting earlier this year, the An Duong Trade and Investment Joint Stock Company suddenly announced plans to revive the once-popular Co Ba soap. (Photo: plo.vn) HCM City (VNS/VNA) - Many well-known consumer brands of the past are making a comeback in Vietnam, indicating a new-found confidence on the part of local companies to take on multinational rivals. At its annual general meeting earlier this year, the An Duong Trade and Investment Joint Stock Company suddenly announced plans to revive the once-popular Co Ba soap. The company is setting up a production line and distribution channel for the relaunch after a gap of one and a half years. The green soap with the image of a woman with her hair in a bun used to dominate the Vietnamese market and was sold in Cambodia, Laos, Hong Kong and several African nations. It is set to return with its familiar look and fragrance. The revival has caused some consternation because the company is in real estate and not in … [Read more...] about Brands from past make comeback
Franchising takes Vietnamese brands to the world
RedSun ITI has taken its chain of Truly Viet restaurants to Australia under the franchise model.— Photo RedSun ITI RedSun ITI has taken its chain of Truly Viet restaurants to Australia under the franchise model. It has set up a joint venture with an Australian partner to open the first restaurant in Melbourne with a menu that features four popular traditional Vietnamese dishes, goi cuon (fresh spring roll), pho (noodle soup), banh mi (Vietnamese sandwiches), and bun cha (vermicelli with grilled pork and fresh herbs). The company’s deputy director, Le Vu Minh, said the dishes have been tweaked to suit local palates. RedSun ITI has already negotiated with partners in Laos to open a chain of King BBQ restaurants there. Founded in 2008, RedSun ITI now operates several restaurant brands -- King BBQ, King BBQ Buffet, ThaiExpress, Seoul Garden, Khao Lao, Hotpot Story, Sushi Kei, and Capricciosa -- with 140 restaurants nation-wide. It launched its first franchise concept, King … [Read more...] about Franchising takes Vietnamese brands to the world