Vinamilk yoghurt sold in Thailand

Friday, Oct 28, 2016 17:38

Vinamilk's yoghurt has been sold in Thaialnd for the past three months. — Photo

HA NOI (Biz Hub) — Over the past three months, Viet Nam Dairy Products Joint Stock Company (Vinamilk)'s yoghurt has been sold in mordern retail chains in Thailand such as Lawson convenience stores and The Mall and Foodland supermarkets.

The company chose Top Most Enterprise Co, a Thai company, as its distributor in the market.

The Bangkok Post quoted Top Most managing director Siwat Thamaratnothai, who suggested Top Most Enterprise distribute the product after enjoying Vinamilk during a trip to Viet Nam.

The enterprise expects to cover all distribution channels in the second quarter of next year, he added.

Vinamilk's yoghurt costs between 17 (49 US cents) and 19 (54 cents) baht there.

Vinamilk is Southeast Asia's biggest milk manufacturer, with a market value standing over US$9.3 billion. It continues to look to expand globally in an effort to achieve an annual revenue of $3 billion by the end of 2017.

It reported total revenues of over $1 billion and net profit of $223 million in the first half of this year.

The local company controls 53 per cent of the fresh-milk market, 26 per cent of powder-milk segment, 80 per cent of condensed milk and 85 per cent of yogurt market thanks to widespread distribution network of 224,000 retail outlets, 266 distributors and 600 supermarkets.

In May 2016, Vinamilk completed the acquisition of California-based Driftwood Dairy for a total cost of $10 million. Alongside the acquisition, it made its first venture with a Cambodian partner to open a $23 million Angkor Dairy Plant.

The local company also invested over $13 million in New Zealand's Miraka Limited Company. — VNS

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