Vietnam dairy giant Vinamilk extends reach to Thai market

By VnExpress   October 26, 2016 | 09:35 pm GMT+7
Vietnam dairy giant Vinamilk extends reach to Thai market
Vinamilk products are displayed for sale at a Fivimart supermarket in Hanoi. Photo by Reuters/Kham

The company aims to be among the world's top 50 dairy businesses by 2019.

Vietnam Dairy Products JSC, better known as Vinamilk, has distributed its products in Thailand for the last three months, after making its forays in various markets around the world.

Various types of yogurt, one of the company's 10 key product lines, are now available at selected convenience stores and supermarkets in Thailand.

The Bangkok Post quoted Siwat Thamaratnothai, managing director of Most Enterprise, Vinamilk’s distributor in Thailand, as saying that his company aims to bring the products to all distribution channels by the second quarter next year.

After yogurt, Vinamilk is planning to introduce fresh milk into the $1.7-billion dairy market.

Founded in 1976, Vinamilk is now controling 55 percent of the dairy market in Vietnam. The firm’s products have been sold in 43 countries around the world, including Australia, Japan and the U.S.

Last year Vinamilk spent $3 million to become the sole owner of the California-based Driftwood Dairy, which contributed 6.5 percent to the firm’s total revenue of $1.7 billion.

In May this year, the company opened its milk factory in Cambodia aiming to generate $54 million in revenue by 2017.

Vinamilk also has a subsidiary in Poland and holds a 22.81 percent stake in a dairy factory in New Zealand.

Its revenue in the first nine months increased by 17.6 percent to VND35 trillion ($1.6 billion), compared to the year-ago period. Gross profit also went up by 27.6 percent to VND9 trillion ($403 million).

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