In Vietnam, it is widely known that the market leaders in the fast moving consumer goods (FMCG) market are multinational corporations, foreign-led joint venture companies or companies in big cities. But the exception is the soybean milk industry. Whenever soymilk is mentioned, Vinasoy - a well-established brand name built on prestige and quality - is the first name to be thought of. Affiliated to Quang Ngai Sugar Joint Stock Company, Vinasoy has quickly grown to be a leading soymilk brand in Vietnam. It is leading the industry with slow but sure steps.
Only soybean industry
Vinasoy was set up in 1997 when the soymilk industry was very new in Vietnam with the initial name of Truong Xuan Milk Factory specialising in manufacturing and supplying soymilk, pasteurised milk, yogurt, and cream. However, from 2003 onwards, after years of research and development for a deep understanding of soybean properties and functions together with a growing trend for natural foods, Vinasoy focused on manufacturing and supplying soymilk products with a burning desire to bring customers the best natural essences and heightening quality of life from such elements as taste, health, nutrition, convenience and enjoyment. This concentration enabled Vinasoy to make the best soybean products.
Few products, many consumers
Under the operating philosophy of “Consumer demand is the root,” Vinasoy does not race into hot spots on the market. Although the market introduces a variety of soymilk products with different flavours and functions, Vinasoy still sticks to its operating principles and flagship products. Therefore, though it has been specialising in only soybean for 15 years, Vinasoy has only launched onto the market three types of products. Fami soymilk is a typical product with an annual growth of some 150 percent.
Focused market
In FMCG business, broad and deep coverage is a dream of any business. However, with its capacity, Vinasoy is not hasty to make spreading investments. Not only reasonably allocating its resources, Vinasoy also slowly enters new markets with the highest rate of success. With the operating principle “Always respecting customers and investing enough,” Vinasoy has to date made a spectacular progress and quickly become an industry leader in soymilk production and distribution, spreading from cities to the countryside.
United, devoted personnel
Although it does not have extraordinary or special employees, Vinasoy knows how to harness hidden values in ordinary men to generate collective strength. The company always supports its employees to feel pleased with experience and devoted to their jobs. So, Vinasoy is a unanimous team striving for customer satisfaction, development cooperation with partners and responsibility sharing with communities.
It is quite sure that, with its right strategies, Vinasoy is successful in expanding sales of soymilk, with from 23.9 percent of market share in 2006 to 35.5 percent in 2011. Paper-packaged soybean milk made the highest growth, from 6.5 percent in 2006 to 25.7 percent in 2011. This is a significant success for a business in the central region in particular and in Vietnam in general.
Vietnamese
