KIDO Group returns to confectionary market with new products

Friday, Oct 22, 2021 10:55

The new KIDO Bakery cakes. KIDO Group returns to the confectionery market after six yearss. — Photo Courtesy KIDO Group

KIDO Group, is back in the confectionary market six years after selling its snack business to a foreign company.

On Tuesday it launched three products under the KIDO Bakery brand, Singapore floss bun, Boba and salted egg yolk cake and Kido brioche tressee.

They are now sold through 45,000 sales points and modern channels like convenient stores, mini supermarkets, e-commerce platforms, and the new Chuk Chuk food and beverage stores.

On the same day, the company also announced its third quarter results, with net revenues for the first nine months of the year rising by 24 per cent year-on-year to VND7.4 trillion (US$326.4 million).

Profit before tax jumped 42 per cent to VND480 billion ($21.2 million).

The company has been transforming its distribution channels to respond to the COVID-19 pandemic, selling through modern channels including e-commerce platforms.

A subsidiary, Tuong An Vegetable Oil Company, reported a 27.5 per cent jump in revenues to VND4.6 trillion ($203 million). Its profit was VND148 billion ($6.5 million).

Vocarimex reported revenues of VND1 trillion ($44.2 million) and profits of VND119 billion ($5.3 million).

For KIDO Nha Be they were VND1.1 trillion ($48.6 million), up 43 per cent, and VND3.2 billion ($1.4 million).

KIDO has announced plans to unveil many new products in the year’s last quarter, including in the ice-cream segment.

It will open Chuk Chuk 10 signature stores in HCM City this year to achieve the goal of having 100.

The brand will then be taken to other cities and provinces including Ha Noi and Da Nang. — VNS

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