11 years in the TOP 50 most effective business companies in Vietnam
This year's TOP 50 recognizes the strong presence of leading enterprises in Vietnam, operating effectively in many important economic sectors such as retail, consumption, banking, and manufacturing.
For example, Masan Group continues to be honored in the Top 50 for 11 consecutive years. This achievement is a recognition of Masan's continuous development, achieving breakthrough and sustainable growth, contributing to the development of the national economy.
After more than 28 years of establishment and development, Masan is now the leading company in Vietnam in the field of retail consumption. Currently, Masan owns more than 3,600 points of sale nationwide, serving the essential consumption needs of 100 million consumers.
In 2024, this group will mark many turning points in its strategy of focusing on the retail consumption sector, accelerating the retail model and IPOing Masan Consumer. At the same time, it will promote many innovative strategies and invest in technology to create quality and diverse products to best serve domestic demand as well as export to major markets such as the US, Japan, Australia, Korea, Canada, etc.
Buy 7.1% more WinCommerce shares - Conduct IPO of Masan Consumer
“WinCommerce has entered the profitability phase. We expect this trend to continue to accelerate as we achieve Like-For-Like growth, successfully open new stores and drive the development of the Vietnamese modern retail market in the medium term,” said Danny Le, CEO of Masan Group.
WinCommerce (WCM) – a member company of Masan, which also owns and operates the largest modern retail chain in the country, recorded a 9.1% year-on-year revenue growth in the third quarter of 2024, reaching VND8,603 billion. This figure was mainly contributed by the new store models WIN (serving urban shoppers) and WinMart+ Rural (serving rural shoppers). Profit after tax reached VND20 billion in the third quarter of 2024 – the first quarter with net profit since the COVID-19 period. This is a sign of a sustainable profit path in the coming time.
On September 4, 2024, Masan announced the transfer of 7.1% of WinCommerce shares from SK Group. The increased ownership in WCM helps Masan increase control and promote long-term growth of core business activities.
In the consumer goods segment, Masan Consumer - a company in the Masan ecosystem, has penetrated almost every corner of the Vietnamese market, serving 98% of Vietnamese households. Masan Consumer has close relationships with more than 340,000 traditional retailers, 6,000 modern trade points of sale and owns 5 strong brands with revenue of over 100 million USD/year.
At the end of Q3 and 9 months of 2024, Masan Consumer recorded double-digit growth in both revenue and profit. In particular, profit after tax in Q3 and the first 9 months of 2024 increased by 14.5%, reaching VND 2,072 billion and increased by 13.8%, reaching VND 5,474 billion, respectively.
On October 2, Masan Consumer announced the Board of Directors' resolution approving the transfer of MCH shares from UPCoM to Ho Chi Minh City Stock Exchange (HOSE). At the same time, the successful IPO of Masan Consumer will help increase the valuation of Masan stocks such as MCH and MSN.
Strengthening the "Go Global" strategy
Promoting the "Go Global" strategy from 2023, Masan's CHIN-SU brand has gone global with a seasoning set exclusively for the Japanese market. CHIN-SU Anchovy Fish Sauce from the East Sea has brought its products to a series of international markets such as the US, Canada, Australia, Europe, and Korea.
CHIN-SU Sriracha chili sauce has surpassed more than 400 chili sauce brands currently sold on the Amazon e-commerce platform to be listed in the "Top 10 Best Seller". In Korea, surpassing hundreds of famous brands in the world, it reached "Top 1 Best Seller" (number 1 best-selling product) on the oupang e-commerce platform.
This year, CHIN-SU chili sauce created a "fever" when it covered Myeongdong, the bustling shopping paradise of Seoul, Korea. In Japan, with its presence in bustling centers such as Osaka and Tokyo, CHIN-SU continues to make its mark on the journey of spreading Vietnamese flavors everywhere: "Go Global - Make Vietnamese Foods Global Foods".
Recently, Masan Consumer and Vietjet signed a strategic cooperation agreement, bringing CHIN-SU Pho Story (a brand of Masan Consumer) to serve people and tourists on Vietjet's domestic and international flights, contributing to promoting Vietnamese culture to the world.
In the challenging macro context, Masan's growth and continued entry into the Top 50 most effective companies in Vietnam in 2024 shows that the Group is implementing effective business strategies, promising a breakthrough journey in the near future.
