Hayat, a Turkish FMCG firm, has officially launched its flagship diaper brand Molfix in Vietnam. The company announced earlier in 2021 that it plans to invest USD 250 million to increase the capacity of its factories in the Southeast Asian country to produce and distribute both domestically and regionally.
Hayat intends to make Vietnam its hub in the Association of Southeast Asian Nations (ASEAN) region through a 32-hectare factory in the Becamex Binh Phuoc Industrial Park. The enterprise targets to export around 40% of its output produced in Vietnam to Thailand, Malaysia, and other regional markets. Furthermore, Cambodia, the Philippines, Laos, and Indonesia could be the next prospective markets for Hayat.
Hayat’s total export revenue is estimated to be around USD 50 million per year. In addition to the existing hygiene business, the company aims to invest in factories producing tissue mill and detergent, with the capacity of up to 60,000 tons and 250,000 tons per year, respectively.
The enterprise disclosed that it spent four years conducting market research before deciding to invest in Vietnam. The country’s infant diaper industry is predicted to increase at double-digit rates each year between 2021-2027. Moreover, Hayat sees an opportunity to provide innovative and high-quality products to Vietnamese consumers as their purchasing power increases.