Vietnamese food and beverage behemoth Masan to attack ASEAN market
At the company's AGM on April 26, Masan Consumer revealed its strategy to enlarge its market share throughout the region from this year to achieve double digit growth and a revenue of $5 billion by 2020.
Seokhee Won, general director of Masan Consumer, said that in the past three years, Masan Consumer has witnessed a slowdown in revenue and profits due to the saturated domestic market, so foreign markets are the next strategy.
“In the ASEAN market, we will reinforce Masan’s brand in five Southeast Asian countries with 250 million consumers by providing Masan’s quality products, not only fish sauce and seasoning, but also coffee,” he underlined.
Masan plans to bring its products to the regional market. Photo by VnExpress
Won said Thailand's 160 million consumers will be the first target with local partner Singha Group, and Masan expects it can surpass Thaibev and become the market leader.
Masan expects to have its products in every ASEAN household by 2020 with revenue of $5 billion.
Masan Consumer reported revenue of VND13.2 trillion ($594 million) and post-tax profit of VND2.9 trillion ($130 million) in 2015. Last year, parent company Masan Consumer Holdings signed a strategic partnership agreement with Singha Corp. The total value of the deal was $1.1 billion, and Singha now owns 25 percent of Masan Consumer Holdings’ capital and 33 percent of Masan Brewery.
Masan Group previously purchased a $64 million stake in state-owned food processor Vissan in its IPO.Read on the original site