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'Tripod' strategy a Vinamilk cash cow

Quality raw materials and modern production technology, alongside a strong domestic foundation have helped dairy giant Vinamilk navigate Covid-19 impacts.

Ngày đăng: 17 tháng 3, 2021
Cập nhật: 12 tháng 10, 2021
Lượt xem: 16025250
Nguồn: vnexpress

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Quality raw materials and modern production technology, alongside a strong domestic foundation have helped dairy giant Vinamilk navigate Covid-19 impacts.

Quality raw materials and modern production technology, alongside a strong domestic foundation have helped dairy giant Vinamilk navigate Covid-19 impacts.

Vinamilk has recently been named among the top 50 most effective businesses in Vietnam by Nhip Cau Dau Tu, a leading local business magazine.This is the 9th year in a row that the company has been honored for its success.

Previously, Vinamilk was named among the top 50 best listed companies in 2020 by Forbes Vietnam.

Both rankings emphasize the stability of Vinamilk's operations despite the unprecedented challenges of Covid-19.

Vinamilk has been in the top 50 most effective companies in Vietnam for 9 consecutive years.

Vinamilk has featured among the top 50 most effective companies in Vietnam for nine consecutive years.

Maintaining growth via "tripod" strategy

Vinamilk has shown superiority in all criteria of business and corporate governance capacity in the last three years, according to the Nhip Cau Dau Tu evaluation board.The company has had a strong growth in size, market capitalization and brand reputation in the market.

In the second quarter of 2020, when both the global and national economies were affected by the Covid-19 pandemic, Vinamilk still recorded a consolidated revenue increase of 6.5%.1% YoY and up 9.5% quarterly, reaching 15 dong.49 trillion ($688.8,000,000).

The parent company's domestic and export sales in the second quarter increased by 12% and 26% respectively compared to the first quarter.

In the first six months of the year, consolidated revenue and profit after tax are estimated to increase by 7% and 3% respectively over the same period last year.

Vinamilk revenue from 2017 to 2020.

Vinamilk revenue from 2017 to 2020.

Despite market challenges, the company has fulfilled its growth targets thanks to its "tripod" strategy.This includes investing in modern manufacturing infrastructure, being proactive in procuring raw materials, and maintaining a strong domestic base for overseas expansion.On this premise, Vietnam's leading dairy enterprise has set a positive growth target for 2020, despite the impact of Covid-19 on the local economy.

Besides the positive results in the country, Vinamilk has made a clear mark on the international market by constantly expanding its export scope.Currently, this is the only Vietnamese dairy company licensed to export to Russia and the countries of the Eurasian Economic Union (EAEU).Previously, the company signed a series of export contracts worth millions of dollars with partners in the Middle East, China and Korea.

Vinamilk constantly expands export markets. Lately, the batch of high-grade grain milk has been exported to the Korean market.

Vinamilk's soy-based nut drink is being exported to South Korea.

Consolidating brand position

General Director of Vinamilk, Mai Kieu Lien, acknowledged the domestic market was its "breadwinner" as international business is greatly affected by the novel coronavirus.In fact, building a solid domestic foundation over the years has created momentum for the company to reach out to the world.This approach is supported by efficient farming practices, quality raw materials and modern technology.

“We will continue to grow and increase our market share.All the plans are still on target," she said.

Supplying more than 220 types of products via diversified distribution channels across the country, Vinamilk has been voted a High-quality Vietnamese Goods enterprise for 24 consecutive years.During this period, the company has defeated many domestic and foreign competitors to become the most chosen brand by Vietnamese consumers in the past 8 years, according to the Brand Footprint report published in June 2020 of consulting firm Kantar Worldpanel.

The Kantar Worldpanel Review Board says the thriving local producer has reached more than 80% of Vietnamese households thanks to advertising and media activities that emphasize the nutritional value of its ever-changing product line. new.

Vinamilks business scale up to December 31, 2019.

Vinamilk's business scale up to December 31, 2019.

Targeted development of products like liquid milk, baby formula, drinking yogurt and condensed milk has helped Vinamilk lead the domestic market in both volume and sales over consecutive years.According to Kantar Worldpanel, market research results not only show the strength of businesses in the context of increasingly fierce competition, but also prove that building consumer trust is the key to helping businesses stand out in the world. fluctuations and sustaining growth, according to Kantar Worldpanel.

For 2020, Vinamilk sets a revenue target of 59 dong.6 trillion ($2.57 billion), and profit after tax is about 10 dong.69 trillion, or 5.Growth of 7% and 1% compared to 2019.


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