The Vietnamese retail industry is growing rapidly, and its key players have started expanding to foreign markets. In of the most illustrative recent examples, in May 2021, Vinasoy Corporation was reported to be registering remarkable growth in sales of its healthy soymilk products in supermarkets and online channels across China and Japan.
In China, Fami soymilk has appeared on 11 leading e-commerce platforms including Tmall, Tmall Global, 1688, Taobao, JD, and Ping Duo Duo, among others. The products have also appeared in 14 store systems including 13 supermarket systems and one convenience store chain, encompassing a total of 420 points of sale (PoS) in the modern channel and nearly 300 PoS in the traditional channel. Fami is also distributed at the Hema Shanghai supermarket system and at the East China Center. Hema is a smart supermarket chain under the new retail model of Alibaba Group, which is favored by Chinese consumers. In Japan, Vinasoy’s products have reached all parts of the country, with nearly 1,000 Asian stores and supermarkets in 45 out of 47 provinces.
In a parallel development, in May 2021 Vietnam’s coffee brand TNI King Coffee entered the American market by opening its first chain store in California. This marks the second overseas store of the café-chain, which also operates in South Korea and has more than 50 outlets. The company plans to open additional 20 stores this year and 100 stores by 2022 in the United States through a franchising business model. Globally, the company aims for further expansion into many countries such as China, Middle East, Europe, Russia and all over Southeast Asia.
(Sources: Vietnam Investment Review; Yahoo Finance)