News & Events

Rice sandwiched VietMac sell shares to do business button

Wednesday, 02/11/2011, 07:56 GMT+7

Passing up investment funds and private enterprises, VietMac partners choose to sell shares and brand development in the south is a senior enterprise in the profession ... buttons.

VietMac company - with rice products such as McDonald holders of the Vietnamese - has completed the transfer of shares to a company in HCM City.

A fast food brand in Vietnam less than a lifetime, but had multiple partners "snoops". It is rather special, ignoring many investment funds and private sector partners are VietMac choose to sell shares and brand development in the south is a senior enterprise in the profession ... buttons.

Talking to Bloomberg surrounding this event, Ngo Trong Thanh, Chairman of the Board VietMac, said:

- VietMac is the result of interference between "salt sesame rice balls" and fastfood West. June last year when my family flew to New York on China Airlines flight, they let us eat rice balls, rice balls similar to the old days in my hometown. Suddenly intense memories of the past, and I told my wife about Vietnam when we would do something like that to sell in the market.

Now, when rice was sandwiched VietMac consumers in Hanoi welcomed as a product bearing the uniqueness of Vietnamese cuisine, affordable and consistent with the taste of many people, we will have to consider the open markets to other localities, including Ho Chi Minh City is the first destination.

However, market expansion and brand development in HCMC VietMac to be delivered on an enterprise specialized in making buttons. Is there any special reason, sir?

Honestly, even after a debut in Hanoi, many people offered to buy shares VietMac, but we do not sell. We are not so seriously to work successfully with partners is any field. Factors that we care, that enthusiasm and agility in their business. We are absolutely not afraid to risk with this contract.

Immediately after reading the newspaper knows VietMac Hanoi, Mr. Sun Thanh Nghia, Director Ton Van shirt button, have the same two children are students studying in the U.S. to fly to Hanoi to try it, then find Meet us to question the acquisition of shares.

What about my experience is just as well have never previously done work related to cooking. Thus, there was a foreign magazine interview I had never cooked, why he chose this profession. I answer, the nature of fastfood only two things only: one is marketing, management and the other is the production process.

The VietMac is in the process should be complete enough so need a passion and prestige in HCMC to expand into that market. We will apply the spiral model, ie, will begin in Hanoi, a breakthrough in Saigon and then create kick back in Hanoi. An expert in Malaysia, my teacher in the U.S. is well advised to be careful not smart failures, but I'm Vietnamese, I am confident understand Vietnamese culture and cuisine of the Vietnamese.

He is not afraid to risk when selling shares to the company Ton Van. So why sell only half of 5% compared with 10% of the proposed purchase?

We believe that value will VietMac two different years, it sold only half that proposal. I have spoken with colleagues from the building in the idea that, two years VietMac brand value would be 2 million, 3-4 years may be 7 million. Now, in this case the transfer of shares, brand valuation VietMac was 2.25 million. But it can also be of value zero, it depends on our efforts. That is the risk of the game that his brand to accept.

Religious Literature In addition to the company, there is no question companies buy shares of VietMac?

Yes, some investment funds and private enterprise, but we chose his company because he means no more than we care how much money invested in machinery was, how profit and loss, same time, he was the heart and is a very famous businessman in HCM City.

Moreover, as I observed, in the next few decades, almost no one any successful enterprise in HCM City North, even the big brand successful in the North as May 10, canning Ha Long ... Therefore, we must learn from experience of their predecessors. We need a person in HCMC in the us.

He said rare northern successful enterprises in HCM City. He said that happened?

That is my question. By the fact that Northern businessmen are not poor, but most entrepreneurs do not have much desire Northern large, remains a small farmer, that is only producing, manufacturing and production. While South always thought marketing and branding.

The south is very easy, easy to accept the new song is also very quick rejection. There are cafes in the south tens of billion of investment initially, but the boss said to me that, to survive, each year to invest 5 billion more.

Therefore, I think, with any business, if not successful in HCM City shall not be called successful in Vietnam.

According to him why some Vietnamese brand in the field of food, beverages had flashes after a short time and then went out?

Some Vietnamese brands emerge and then fade as the monitoring process by then forgotten. With VietMac, we try to innovation and continuous quality monitoring. We only have a production point, the only selling point is the finished product only.

If anybody had asked, VietMac was not perfect, we still say no, but the commitment to product quality, we will be pioneers. Brands like the tip of a iceberg, in which the sink is product quality. Where is the product away from the sink that decision.

To build a successful brand in Vietnam, I think actually the most difficult to think of the entrepreneur. The rest is easy by the Vietnamese market are still very wild, very many opportunities for development. I think, never fight with muscles, by money, by the war, the war by brand wisdom.

But the story is committed to product quality is not entirely new ...

Yes, by saying it is very easy, but it becomes difficult when businesses are suffering a loss in a row. Everyone says so, but with VietMac, a year without a contract interest. We had to borrow money to pay for staff, but product quality is guaranteed.

During the early VietMac born, our staff have to call dozens of phone calls to ask clients to comment on how the product after eating. Even today, we still maintain to this poll. The comments of our customers is our basis for product improvement.

Has he ever consider selling off brand Vietmac?

We never intend to. Director VietMac crying when I had bad diets. I think that is a child of her, of us and is a passion of the team. VietMac only sell shares to replicate that comes out, but the brand never sold.

Ton Van Choosing a company because he saw there the tune of brand personality?

With any business when they are small scale that its products will reflect the personality of those who created it. When he means to select partners, we've seen his character quite fit our personalities.

This is the enterprise of the simple combination of Vietnam such as seashells, coconut shells ... and plus there is wisdom in the expensive products, with brands.

So he has the "impatient" not as far VietMac still holes, as he says?

That is the difference between a merchant and an entrepreneur. Even now, we do not dare to calculate how much is spent money to build VietMac. We determined it was a long-term game, and now the game begins.

Written : TỪ NGUYÊN