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Masan Consumer targets having 12 leading brands by 2020

Released at: 16:19, 03/07/2017

Masan Consumer targets having 12 leading brands by 2020

Illustrative image (Source: cafef.vn)

New Chairman Truong Cong Thang sets this and other targets as he takes up the reins.

by Quynh Nguyen

Under the leadership of new Chairman Truong Cong Thang, Masan Consumer targets building at least 12 leading brands in Vietnam by 2020.

As VET reported recently, Mr. Thang has replaced Mr. Nguyen Dang Quang as Chairman of Masan Consumer, the fast-moving consumer goods (FMCG) arm of the Masan Group.

Masan Consumer’s extra-ordinary shareholders’ meeting on June 23 elected Mr. Thang as Chairman and approved an increase in the number of board members in the 2014-2019 term to six.  

Mr. Thang has set a revenue growth target of 25 per cent per year in the 2018-2022 period, with a net profit margin of 20-25 per cent. At the same time, Masan Consumer will strive to become one of Vietnam’s three most-favored workplaces by 2022.

In the second half of this year, Masan Consumer will introduce eight major business campaigns to reaffirm the power of its brands in the market, restructure some product lines, expand the consumer market, and introduce new products to consumers.

“We will promote productivity through new innovations, apply science and technology, build strong brands, and focus on serving the daily lives of the majority of people,” Mr. Thang said.

Mr. Thang was previously CEO of Masan Consumer but resigned for personal reasons. In his six years as CEO, he helped it dominate the FMCG market with three main product lines: spices (Chinsu and Tam Thai Tu), instant noodles (Kokomi and Omachi), and beverages.

The change in Masan’s leadership comes in the context of a slowdown in the company’s core business. Masan Consumer’s sales fell nearly 17 per cent in the first quarter of this year. In 2016, though revenue grew 4.4 per cent against 2015, pre-tax profit fell nearly 8 per cent. The company has been undergoing a downturn since 2014.

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