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During the COVID-19 pandemic, how much was the Vietnamese dairy brand - Vinamilk priced in the market?

Saturday 08, 08 2020
Vinamilk's brand value is valued at more than $2.4 billion by Forbes Vietnam, equivalent to more than 55,000 billion VND, accounting for more than 20% of the total value of the Top 50 leading brands in Vietnam by 2020.
During the COVID-19 pandemic, how much was the Vietnamese dairy brand - Vinamilk priced in the market?
  • Vinamilk - billion-dollar brand of Vietnam

In 2016, for the first time, Forbes Vietnam published a list of the Top 50 leading brands in Vietnam, at that time, Vinamilk's brand value reached more than $1.5 billion. Since then, along with the growth in the size of the Company, Vinamilk's brand value has continuously increased over the years and has been in the leading positions of the Topmost valuable brands in Vietnam.

In 2020, despite facing major economic fluctuations due to the Covid-19 pandemic, Vinamilk's brand is still valued at an increase of US $ 200 million compared to 2019, reaching over $2.4 billion.

Forbes Vietnam made this list according to the evaluation method of Forbes (USA), calculating the role of the brand in the business performance of the business. The most valuable brands are brands that achieve a large turnover in the industries where the brand plays a leading role. The data collection of businesses will be based on the financial statements of the companies.

In addition, Vinamilk is also the only nutrition company in the ranking of the 50 best-listed companies in Vietnam recently published by Forbes Vietnam. The list of 50 leading brands and the best 50 listed companies in Vietnam is the two most prestigious rankings of Forbes Vietnam every year, made based on Forbes' criteria and evaluation methods bridge. The presence in both rankings shows Vinamilk's increasingly strong position in both brand name and business performance.

Vinamilk
Source: Forbes Vietnam

  • Stable growth comes from brand reputation

2020 is a challenging year with the impact of the Covid-19 pandemic still raging. However, thanks to the potential and appropriate improvisation of business strategy, Vinamilk still shows a stable growth on all main indicators in business and production results.

According to the latest financial report published by the end of the second quarter of 2020, accumulated in the first 6 months of the year, domestic net sales reached VND 25,456 billion and direct exports reached VND 2,451 billion, corresponding to an increase of The growth rates are respectively 7.7% and 7.3% over the same period last year. Thus, despite the strong impacts of Covid-19 in the first 6 months of 2020, Vinamilk's consolidated net revenue is now VND 29,648 billion, up 6.7% compared to the same period of 2019 and completing 50% of the year plan.

In particular, the revenue of both domestic and export markets of Vinamilk in the second quarter of 2020 increased by 2 digits compared to the first quarter of 2020. Specifically, the export segment contributed directly to the net revenue of VND 1,370 billion, up 26.8% compared to the first quarter of 2020, accounting for 9% of the consolidated net revenue. Domestic business activity recorded net revenue of VND 13,364 billion, up 10.5% compared to the first quarter of 2020, and accounted for 86% of the consolidated net revenue.

Although the brand is an intangible asset, it has a great contribution to the operation of the business. Vinamilk currently has more than 220 types of products to meet the nutritional needs of Vietnamese consumers from children, the elderly, adolescents, or the whole family.

2020 is a challenging year with the impact of the Covid-19 pandemic still raging

The continuous launch of new nutritional products and updates of advanced trends in the world such as Organic has helped Vinamilk gain the trust of domestic and foreign consumers. Not only worth billions of dollars, but Vinamilk is also the brand chosen by Vietnamese consumers for 8 years in a row according to Worldpanel's "Brand Footprint" report of Kantar.

In recent years, in addition to asserting its brand position in the domestic market, Vinamilk has taken steps to build a foothold for Vietnam's dairy brand in the world market through trade promotion activities. and actively promoting exports in many countries such as China, Korea, Japan, Southeast Asia ... Up to now, Vinamilk has exported products to 54 countries and territories with total turnover. reached more than $2.2 billion.

For more information about Vinamilk, looking for the report: VINAMILK

Source: Vietnam Finance

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Business

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