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Tag: Vietnam

  • Yamaha Tracer Mini Adventure Tourer Spotted In Vietnam

    Yamaha Tracer Mini Adventure Tourer Spotted In Vietnam

    Yamaha may be looking at introducing a small displacement adventure tourer in the Yamaha Tracer range, as a latest spy shot from Vietnam seems to suggest. There are not enough details about what the powerplant of this mini adventure touring motorcycle is, but speculations point to a Yamaha Tracer with either a 125 cc, or a 150 cc engine. From the looks of the spy shot, it appears that the mini Tracer is near production ready, and Yamaha Vietnam may soon unveil the model, in all likelihood, at the upcoming Ho Chi Minh Motorshow later this month.

    What is also not clear at this stage is whether Yamaha will be introducing a 125 cc Tracer, or a bigger 150 cc Tracer based on the Yamaha MT-15. So far, Yamaha has two models in the Tracer range, based on the MT-09 and the MT-07, called the Tracer 900 and the Tracer 700 respectively. But none of the models in the Yamaha Tracer family are offered on sale in India. If Yamaha does decide to introduce a 150 cc Tracer, and if it is eventually manufactured completely in India, we could look at a possible launch sometime in 2020, but that would also depend on if at all India Yamaha will be looking at demand for such a model in the world’s largest two-wheeler market.

    A production-ready model of the mini Yamaha Tracer, in both 125 cc and 150 cc variants, could well be unveiled in November this year at the EICMA show in Milan. We are of course, excited at the prospect of a compact adventure tourer in the lower end of the displacement spectrum, and if Yamaha does decide to introduce such a model in India, it will certainly make for a very attractive package. The current naked 150 cc Yamaha MT-15 has been well-received in India, and a touring variant could well make for a good product strategy in India.

  • JD increases stake in Tiki Vietnam

    JD increases stake in Tiki Vietnam

    Chinese online giant JD has become the largest shareholder in e-commerce platform Tiki Vietnam.

    JD has bought a 25.65-per-cent stake in the business, taking its shareholding past that of previous leading investor VNG Corporation, which holds 24.4-per-cent ownership in the platform. VNG has invested US$22.4 million in Tiki over the past two years.

    Tiki Vietnam has grown from an online bookstore to Vietnam’s second-largest e-commerce provider in terms of traffic, after rival Shopee.

    The firm is reportedly seeking a $100 million investment in its next funding round in order to boost its competitive edge.

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  • Smashburger weighs down Jollibee results

    Smashburger weighs down Jollibee results

    Jollibee’s Smashburger and Red Ribbon business units significantly dragged down the restaurant operator’s first-half profits.

    Jollibee Foods Corporation says the company’s net income attributable to shareholders was P1.1 billion (US$21.1 million) in the second quarter – half that of the preceding three months. First-half profit was down 34 percent on the same period last year.

    The company blamed the decline on losses relating to the Smashburger chain and lower sales by its Red Ribbon bakery business.

    “On Smashburger, we introduced major changes that created short-term disruption in sales and profit but will drive sustainable sales growth and strengthen the brand health,” said Jollibee CFO Ysmael Baysa.

    While Smashburger, a relatively recent acquisition for the company, was not yet performing, Baysa says Jollibee has considerable experience restructuring businesses it buys into more profitable operations, namely Yonghe King and Hong Zhuang Yuan in China, and the Highlands Coffee business in Vietnam.

    The poor performance of Red Ribbon during the quarter was attributed to a shortage of supplies relating to the transfer of the company’s commissary kitchen to new premises south of Metro Manila.

    Last month, Jollibee announced the purchase of California cafe chain The Coffee Bean & Tea Leaf for US$350 million. It expects that business to contribute to Jollibee’s bottom line within 12 to 18 months.

    Global sales by Jollibee rose 13.8 percent in the first half, to P113.8 billion (US$2.11 billion) . Most of that growth came from its international operations, which grew by 24.9 percent, far faster than the 13.8 percent of its domestic business.

    Between January and June, the company opened 170 stores, 111 of those in its home market.

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  • Double-digit leap for General Vietnam retail sales

    Double-digit leap for General Vietnam retail sales

    Vietnam retail sales surged by 11.6 percent in the first seven months of this year, according to figures from the nation’s government.

    According to the General Statistics Office of Vietnam, sales of goods and services reached US$120.57 billion from January through July, with 76.1 percent of that figure ($91.76 billion) spent on goods – 12.5 percent up year on year.

    In July alone, according to the government estimates, sales of retail goods and services reached $17.84 billion, 1.7 percent up on June and 12.4 percent ahead of July last year.

    By category, Vietnam retail sales of food and foodstuffs rose by 12.8 percent year to date, with clothing and textiles up by 10.7 percent.

    Accommodation and restaurant services grew 10 percent year on year to $14.51 billion. Travel services rose 12.5 percent to $1.1 billion.

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  • Body Shop Malaysia and Vietnam operator to list

    Body Shop Malaysia and Vietnam operator to list

    The retailer and distributor of The Body Shop products in Malaysia since 1984 has yet to fix the issue price and the opening and closing dates of the IPO. But local news reports have suggested the IPO may raise up to MYR200 million (US$48.6 million).

    InNature has indicated plans to use any IPO proceeds for capital expenditure, working capital and new business development.

    The firm has 89 locations in Malaysia and 26 in Vietnam, including online platforms. It plans to enter Cambodia later this year.

  • Vietjet Recognised as One of the “Best Companies to Work for in Asia 2019”

    Vietjet Recognised as One of the “Best Companies to Work for in Asia 2019”

    Vietjet has been recognised as one of the best employers in Asia at the ” HR Asia – Best companies to work for in Asia 2019″ awards. Held in Ho Chi Minh City and organised by Asia’s leading human resource magazine, HR Asia Magazine, the awards recognise Vietnamese companies with the best working culture.-

    The HR Asia Awards is a prestigious regional award that evaluates and recognises companies with excellent working environments throughout Asia and has been held annually in various Asian countries such as Hong Kong, Singapore, China, Malaysia, Indonesia and Taiwan. Other companies in Ho Chi Minh City such as HDBank and Sun Group also received the award this year. HR Asia carries out in-depth surveys with senior executives and HR managers at leading Vietnamese companies to evaluate their HR policies, recruitment and strategies put in place to cultivate excellent working environments, among other factors to determine the winners of the award.

    Speaking about the award, Vietjet Managing Director Luu Duc Khanh said: “Our company’s greatest asset is our employees, and thus, we take great pride in creating a work environment and culture that fosters success. Vietjet’s success is contributed to by the performance of each employee and team work and this award is especially exciting as an employee survey is used as part of the evaluation. We will continue our commitment to investing in employee well-being and engagement in order to ensure our further success.” 

    The new-age airline Vietjet has not only created a “revolution” in the aviation industry by offering flying opportunities for millions of passengers all around the region and the world, but has also offered countless opportunities to its staff with a young, dynamic working environment, good benefits and good HR policies.

    Vietjet has been honored to be the best employer brand in Asia for many consecutive years and one of the top 50 airlines worldwide by Air Finance Journal for financing and operations. The company has also been recognised with many other domestic and international awards. 

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  • Vietjet Announces New Routes and IncreasesFlight Frequencies to Phu Quoc

    Vietjet Announces New Routes and IncreasesFlight Frequencies to Phu Quoc

    Vietjet has announced its plans to launch new routes and increase flight frequencies to and from Phu Quoc, one of Vietnam’s top beach destinations.

    The announcement was made on 29 July 2019 at the Kien Giang Investment Promotion Conference, titled “Kien Giang – Potential and opportunities for investments and sustainable development.” More than 500 industry and organizational leaders, investors and leading private enterprises attended the conference; Vietnamese Prime Minister Nguyen Xuan Phuc and senior leaders of the Vietnamese Government were also present at the event.

    Vietjet detailed its plans to operate two new domestic routes: Phu Quoc – Da Nang and Phu Quoc – Van Don. The new routes will operate at a frequency of seven flights per week from the end of this year and the middle of next year respectively. Two new international routes (air charters) were also announced: Phu Quoc – Chengdu (China) and Phu Quoc – Chongqing (China), with three round-trip flights per week starting from the end of 2019.

    The flight frequencies of two international routes Phu Quoc – Hong Kong (China) and Phu Quoc – Incheon (South Korea)will also be increased to six flights per week and fourteen flights per week respectively from the coming winter months to meet the increasing travel demands of Phu Quoc’s peak season.

    Since Vietjet’s first flight to Phu Quoc in 2012, its flight networks have continued to expand, connecting Phu Quoc to many other countries and cities in the region. Speaking at the conference, Prime Minister Nguyen Xuan Phuc expressed his support for investors and leading companies such as Vietjet in contributing to the economy of Kien Giang province.

    To celebrate the announcement of the new routes to Phu Quoc, Vietjet is offering 85,000 tickets from only S$0* for travelers to fly to Phu Quoc, the famous island of Kien Giang province. Promotional tickets are available for purchase from now until 31 July 2019 and are applicable for travel from 5 September 2019 to 31 December 2019 for domestic routes connecting Phu Quoc to Hanoi, Hai Phong and Ho Chi Minh City, and 5 September 2019 to 25 June 2020 for international routes connecting Phu Quoc to Hong Kong and Incheon.

     

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  • Tea chain Ten Ren Vietnam to close down

    Tea chain Ten Ren Vietnam to close down

    Ten Ren Vietnam will close all of its 23 stores on August 15, local franchise holder Vietnam Coffee Trading Service has announced.

    The company, whose main business is the fast-growing The Coffee House chain, said the current business model does not conform to the needs of the customer. It will close the chain and plan an “appropriate strategy” for the sector.

    The company wants to focus more on its Coffee House brand.

    All employees and partners of the Ten Ren chain will be offered the chance to transfer to The Coffee House.

    Ten Ren entered Vietnam in November 2017 initially planning 40 stores by the end of last year, but has fallen well short of that target. Its primary lines are milk tea and packaged teas.

    Given the brand is operated under a franchise it is likely the Taiwanese parent will seek a new operator for the market

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  • VIPshop buys Chinese outlet malls

    VIPshop buys Chinese outlet malls

    Discount e-commerce platform Vipshop has acquired a chain of Chinese outlet malls.

    The online business has paid RMB290 million (US$42 million) for Shan Shan, extending its offline footprint.

    The Tencent and JD-backed site has been making strong moves to trade offline since opening a store in Beijing last October, and has gone on to launch retail outlets in Guangzhou, Changsha, Shenyang, Tianjin, and Hefei. The new acquisition adds five outlet malls to VIPShop’s network in Taiyuan, Harbin, Zhengzhou, Nanchang, and Ningbo, with five more outlets in the works.

    “This represents another milestone in our efforts to explore online and offline integration in our core business,” said Vipshop founder Eric Shen. “Through this highly strategic transaction, we will gain presence in the offline outlet business in China, which further enhances our ecosystem and fortifies our leading position in China’s discount retail segment.”

    Vipshop’s first 2019 financial quarter saw it take in RMB21.3 billion (US$3.1 billion) in revenues, providing a net income of RMB872.3 million ($127 million).

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  • Vietnam budget airline VietJet to launch online business

    Vietnam budget airline VietJet to launch online business

    Vietnamese budget airline Vietjet is set to enter the e-commerce business. The firm is currently forging alliances with industry partners to enable it to offer a range of goods and services online as it seeks to build on and profit from its existing customer data. The new platform, which will be based on blockchain technology to facilitate transactions among partners, is expected to launch within the next two years.

    “Following our concept of ‘Consumer Airline’, we will have an e-commerce platform to serve not only air tickets but whatever they need,” said Vietjet’s VP Nguyen Thi Thuy Binh in Tokyo in an interview with the Nikkei Asian Review. “All the suppliers and partners will join our platform to serve the products to not only our 30 million passengers but also hundreds of millions of customers in Vietnam and other parts of the world.”

    The service will offer banking, insurance, hotel bookings and consumer goods, among other planned features. It will initially target passengers on the airline before expanding to the general public.

    Vietjet is expected to fly 30 million passengers this year, an increase of 30 per cent over last year’s total. While its revenues have been increasing over the period, rising fuel costs and intensifying competition have increased pressure on the firm’s core business. Vietjet has already formed a partnership with finance firm HD Saison Finance to allow customers to purchase air tickets ‘on loan’ in hope of attracting sales even from travellers who cannot immediately afford to buy.

    Vietjet currently flies 119 domestic and international routes, with a fleet of almost 80 aircraft.

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  • Vietnam franchise opportunities Booming

    Vietnam franchise opportunities Booming

    Fourteen international brands are seeking for Vietnam franchise partners.

    The brands will gather at VF Franchise Consulting headquarters in Ho Chi Minh City on July 9 to meet with prospective area or master franchisees for the market. The franchises are in the food-and-beverage sector, education, services, and come from the US, Taiwan, Thailand, Singapore, India and Japan.

    Of the 14 brands, 11 are in the retail space:

    * ACE International, a home-improvement franchise with more than 5200 stores in more than 60 countries.

    * Little Caesars Pizza, a takeaway pizza chain from the US.

    * Coldstone Creamery, a premium ice-cream chain from the US.

    * Mango Tree, a Thai casual-dining business from Thailand.

    * Mango Chili, a fast-casual Thai dining chain.

    * Cha Ji Tang, a Taiwanese fragrant hot-and-cold herbal/flower tea cafe.

    * Yang Xiang Ting, a Taiwanese dim sum conveyor-belt restaurant concept.

    * Fidele, an American-inspired seafood, and pizza chain.

    * Bing Girl, a Taiwanese sweet dessert cafe.

    * Machida Shoten, a Japanese ramen chain.

    * Mennya Kokoro, a popular Japanese dry-ramen chain.

    According to Vietnam’s Ministry of Industry and Trade, there are already more than 200 foreign brands registered in Vietnam, and the number of international brands seeking to enter Vietnam continues to grow by 15–20 percent annually.

    “With nearly 95 million citizens, Vietnam has one of the fastest growth rates when it comes to franchising and licensing,” says Sean T Ngo, founder, and CEO of VF Franchise Consulting.

    “Franchises that do well are in the food-and-beverage, education, retail, and services sectors. Goldman Sachs predicts Vietnam will be the 20th largest economy in the world by the year 2050.”

    The leading Thai company, Mango Tree, will be seeking its first franchisee for its Vietnam branch.

    “Mango Tree is one of the world’s most innovative and best-known Thai culinary lifestyle brands, serving contemporary Thai cuisine from authentic classics to modern updates to old favorites, complemented by creative mixology, expertly curated music, and buzzing locations,” said Trevor MacKenzie, Mango Tree’s MD. The company has already expanded into Hong Kong and Macau.

    Taiwanese bubble-milk tea chain Cha Ji Tang already has stores in Taiwan and Vietnam, and is in discussions over outlets in the Philippines, Korea, and Japan.

    “We are very excited about introducing our successful F&B franchises (Cha Ji Tang, Bingirl, Yan Xiang Ting, and Fidele) to Vietnam,” said Andy Hsu, owner of Reng Feng Brands, the parent company of Cha Ji Tang.

    “Taiwanese food and drinks are very popular in many countries, and we believe many Vietnamese will appreciate and enjoy authentic cuisine from Taiwan.”

    The minimum investment levels for the 14 franchise brands range from US$300,000 to $3 million.

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  • Vietjet Recognised as One of “Vietnam’s 50 Best Performing Companies in 2018”

    Vietjet Recognised as One of “Vietnam’s 50 Best Performing Companies in 2018”

    Vietjet was recognised as one of the leading companies in “Vietnam’s 50 Best Performing Companies 2018”. Held in Ho Chi Minh City on 27 June 2019, the award ceremony celebrated the leading companies listed on Vietnam’s stock market for their significant contribution to the economy.

    The annual event was conducted by Nhip Cau Dau Tu Magazine (Investment Bridge Magazine) in partnership with Thien Viet Securities, with expert economic and business consultants from Harvard Business School. The awards take reference from world ranking charts such as Bloomberg Businessweek, Fortune and Forbes to recognise and award listed companies for their performance and business results between 2016 and 2018. Success is based on Revenue Growth Rate, Return on Equity (ROE) and Earnings per Share (EPS).

    Vietjet’s SR-CAGR (Compounded Annual Growth Rate) and ROE were at 39.24 per cent and 59.7 per cent, respectively. Market capitalisation reached 2.68 billion USD, making Vietjet one of the largest capitalised enterprises on the Vietnam Stock Market. Since its listing, Vietjet has been recognized as a representative for successful Vietnamese enterprises.

    The top 50 companies this year have a total market capitalisation of 98 billion USD, with 17 companies exceeding 1 billion USD. Enterprises in the top 50 also generated a total of 1,200,000 billion VND (approximately 51 billion USD) and 127,000 billion VND (approximately 5.5 billion USD) in profits, an increase of 52 per cent and 47 per cent compared to the same period in previous years. In the context of an unsustainable global economy due to political reasons, the performance of Vietnamese enterprises in 2018 showed the potential for strong development and sustainability from leading Vietnamese companies.

    Hundreds of influential business leaders, financial institutions, macroeconomic executives, prestigious domestic and foreign investors attended the award ceremony and also participated in talks concerning the Macroeconomic forecasts for 2019 to 2020, amongst other international and local business topics.

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  • Aeon Vietnam to build another Hanoi mall

    Aeon Vietnam to build another Hanoi mall

    Aeon Vietnam will invest US$280 million for its third property in the capital city, Hanoi.

    The mall, in South Hanoi, is scheduled to open by the end of next year, according to Aeon executive director and general director of Aeon Mall Vietnam, Yasutsugu Iwamura.

    The Japanese retail giant plans to have 20 malls in Vietnam by 2025. It already has four trading,  in Ho Chi Minh City, Hanoi and the southern province of Binh Duong. Two others are under construction in Hanoi and the northern city of Hai Phong.

    The retailer hopes to have a strategic partnership with Vietnam retailers, increasing sales of agricultural products to Japan through its system.

    It plans to double imports from Vietnam to US$500 million next year, and double again to US$1 billion by 2025.

    Last year Aeon’s imports were worth US$245 million, with clothing accounting for 55 per cent of that figure.

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  • Vinomofo looks beyond massive bulk orders

    Vinomofo looks beyond massive bulk orders

    Vinomofo is thinking outside the box to give new customers a better first experience with the brand.

    The online wine retailer last week launched a ‘welcome kit’, including a three-pack of red, white or mixed wine, as well as a magazine filled with articles, advice and recipes that explain what Vinomofo is all about.

    The kit is like a physical manifestation of the welcome email that most online retailers send. But while digital versions typically include a discount for the next purchase, or a call-to-action to sign up for the loyalty program, Vinomofo’s welcome kit is all about introducing customers to the culture and ethos of the brand.

    “The idea came about during a session we had exploring how to deliver a more beautiful and complete welcome experience,” Justin Dry, Vinomofo co-founder and CEO said.

    “It was important to us that this was simple and elegant but clearly represented who we are and the why and how of what we do.”

    The company has made a name for itself by offering great wine at low prices, which it makes possible by buying large volumes from growers. Customers typically are required to buy six or 12 bottles of the same vintage to access the enticing per bottle discount that Vinomofo advertises.

    For some customers, however, this is a significant investment they may not be confident making online. For others, they simply don’t know the ins and outs of how Vinomofo works. The welcome kit, which costs $69 and up, aims to tackle both issues.

    “We know that once someone has tried Vinomofo, they’re very likely to stay, so if we can remove as many barriers as possible, it’s a good thing,” Dry said.

    “However it’s mostly about delivering a beautiful experience for our new mofos and introducing them to who we are and what we do.”

    Vinomofo recently appointed its first employee in Singapore. Michael Parmeter has been appointed general manager, and will look after ground operations, strategic growth, merchandise and local area marketing.

    The country represents a strong growth market for Vinomofo, which also operates in New Zealand, and is looking to launch in the US in the near future.

    Dry said that Vinomofo has achieved its goal of returning to profitable growth in FY19, and will be looking to accelerate its global growth again in FY20.

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  • Vietnam Airlines Unlocks New Perspectives into Customer Experience Insights with Qualtrics

    Vietnam Airlines Unlocks New Perspectives into Customer Experience Insights with Qualtrics

    Qualtrics, the leader in experience management, today announced Vietnam Airlines, a leading airline in South East Asia and national flag carrier of Vietnam, is using Qualtrics CustomerXM™ as part of the company’s efforts to create a more robust and tailored customer experience for its 22 million annual passengers.

    With Qualtrics CustomerXMTM – a comprehensive experience management platform – Vietnam Airlines is able to capture and respond to customer feedback in real-time. The national carrier of Vietnam has also increased the volume of customer engagement captured and research scope.

    “Qualtrics initiatives have enabled Vietnam Airlines to reduce the time needed to collect and respond to customer feedback from months to weeks. The speed at which we are now able to operate, along with the ability to garner new insights from our passengers, are key differentiators for us. Powered by the speed and accuracy of the Qualtrics CustomerXMTM platform, Vietnam Airlines is able to capture customer insights, which serve as very important input for creating breakthrough customer experiences – characterized by Vietnam’s rich culture and identity – helping cement our position as one of the leading carrier in the region,” said Ngo Hong Minh, Director of Passenger Service Department, Vietnam Airlines.

    Vietnam Airlines deployed a number of dynamic data collection tools on Qualtrics CustomerXMTM to derive new perspectives of its entire customer experience. These include dynamic and custom data collection tools that can focus on priority areas in the customer journey, real-time website feedback, QR code feedback capabilities for higher response rates in regions such as China and Singapore where this method of engagement is preferred, and an offline app for “mystery shoppers” to use.

    Customer responses are presented back to Vietnam Airlines in role-based dashboards that can be accessed from any device in real-time. Stakeholders collaborate to create unique pages and apply filters to pinpoint specific moments – like reservations, check-in, and online booking – across the carrier’s 30+ branch offices and representative offices in more than 20 countries and territories.

    “Combining experience data captured by Qualtrics CustomerXMTM with operational data has inspired a number of changes to the customer experience we create at Vietnam Airlines – from the food and drink we serve through to conversations at check-in. Since going live on the Qualtrics platform in late 2017 we’re proud to have maintained  our Skytrax 4-Star status which now extends to fourth year running, and achieved a record profit of VND 2.8 trillion in 2018,” added Minh.

    “Airlines across the globe are looking for ways to compete in increasingly competitive markets on more than price alone. Customer experience is therefore a significant and invaluable differentiator. Vietnam Airlines’ investments and accolades in creating breakthrough customer experiences is testament to the carrier’s tireless devotion and commitment to improving quality across products and services. Qualtrics is proud to support Vietnam Airlines through this exciting and unprecedented period of growth by helping it optimise its customer experience at the moments that matter most,” said Foo Mao Gen, Head of Southeast Asia, Qualtrics.

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