Don't let Vietnamese brands be lost!
Through cases of Vietnamese brands such as Buon Ma Thuot coffee, Phu Quoc fish sauce, Sa Giang shrimp crackers, Ben Tre coconut candy... being acquired by foreign giants, the "gap" between foreign and domestic businesses in this new era is clearly visible. Equalizing this gap is very difficult.
The Buon Ma Thuot coffee brand is no longer a Vietnamese brand.
Vietnamese brands are selling like hotcakes.
In 1994, the toothpaste market share was almost entirely dominated by the Dạ Lan brand of Sơn Hải Company and P/S of Phong Lan, with Dạ Lan alone accounting for 70%. However, after falling into the hands of Colgate Palmovive Group, Dạ Lan disappeared after only 3 months.
Similarly, Bibica, after 20 years of operation and on the path to success, went through a privatization process and entered into a comprehensive cooperation with Lotte, hoping to receive technology transfer, improve management, and expand into the international market. However, when the share price rose, Bibica's shareholders rushed to sell, causing them to lose less than 1% of the shares, making it difficult for Bibica to maintain its brand.
When I heard the news that the once-magnificent Tribeco beverage company had come to a surprising and swift end, I thought it was a fantasy. In its 20 years of operation, it was voted a Vietnamese product by consumers for 11 of those years.
In 2012, Tribeco Saigon was dissolved, after Tribeco Northern and Tribeco Binh Duong sold all their shares in 2010 and 2011. It's said that at one point, the value of those floating shares was equivalent to the price of a glass of iced tea on the sidewalk.
In 2003, the first "Pho 24" restaurant opened in Ho Chi Minh City, then spread to Hanoi, Hue, Da Nang, Nha Trang, Vung Tau, Binh Duong, and other cities. By 2010, approximately 60 Pho 24 restaurants had opened on major streets. From there, the Pho 24 brand also expanded internationally with about 20 restaurants. Despite its seemingly bright future, the Pho 24 brand now has a foreign name.
Or take the case of selling the Diana brand to Unicharm (Japan), which has three major advantages.The first,The high selling price led The Asset magazine in Hong Kong to select it as one of the best deals in Asia in 2011.Monday,The share transfer rate reached 95%.Tuesday,The transfer took place during Diana's peak growth year. At that time, Diana was the first and only company in Vietnam.
Through cases of Vietnamese brands being acquired by foreign companies, a concerning issue has emerged: foreign businesses have larger capital, more experience, stronger communication capabilities, and higher levels of scientific and technical expertise, making it very easy for them to defeat Vietnamese brands. |
Don't let it slip away.
Leaving aside the case of Diana, the overall picture is that Vietnamese brands have lost and are struggling simply because they have to compete with foreign brands whose owners are strong, cunning, and resourceful. With ample funds, they lavishly advertise during prime time and on major media outlets, not just briefly, but even creating elaborate commercials with the enthusiastic participation of famous artists, models, beauty queens, and prestigious scientists. That tactic alone is enough to overwhelm the local brands.
Watching the "big players" in the Vietnamese brand industry disappear one after another is disheartening and discouraging. I believe that to encourage Vietnamese people to prioritize Vietnamese products, it's time to stop losing any more Vietnamese brands.
According to Baocongthuong - PH
