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|Vietnamese dairy giant Vinamilk enters South Korean market|
After a period of exploring and introducing products to the Korean market, early in June 2020, Vinamilk, the largest dairy company in Vietnam, has successfully signed a contract to export a large consignment of 85 product containers including: Set of 3 premium seed soymilk and Vinamilk's milk tea.. Having been present in Vietnam for less than 2 years, Vinamilk's delicious and nutritious nut milk products have quickly been favored by domestic consumers and conquered the Korean market through an export contract worth US $1,2 million.
|Vinamilk's set of 3 premium seed soymilk|
The nutritional product market in Korea is said to be fiercely competitive, with the dominance of major domestic food groups. There are nearly 40 different types for only soya milk products available on the market, meeting the needs of all customers. Therefore, it can be said that Vinamilk's "advance" to expand the Korean market with a new, high-level milk product line has contributed to affirm the Vinamilk's competitiveness of both quality and brand in international markets.
As a developed country, with a per-capita income of over US $ 30,000, South Korea's people not only have a high living standards but also have a very high demand for domestic and imported products, and no exception for nutritional products. Basing on its international standard quality, typical taste and high-class brand, Vinamilk's set of three soya bean milk, including red bean wave, almond wave and walnut wave, are introduced to the Korean market and make a positive impression on consumers.
"I believe that Korean consumers find Vinamilk products attracted because of their fragrant taste in nut products' deliciousness and richness. Milk tea products have a clear tea flavor doubling the current products' one on the market ensuring to satisfy customers who are very fond of milk tea products with a from-Europe delicious tea flavor” said Seol Boo Chun, Director of Vina Korea Company, the distribution partner of these product lines, explains the reason why the Company is bold to import large quantities of Vinamilk's soymilk and milk tea products to trade in a such a high standard and requirement market of Korea.
|Vinamilk's set of three soya bean milk makes a positive impression on consumers thanked to its international standard quality.|
Vinamilk has experienced over 10 years to research and develop business on the Korean market. With a methodical approach to foreign markets, before starting to promote exports, Vinamilk and its partners spent a lot of time studying the market, researching and developing products. This preparation helps the product to suit people's taste and predilection while creating a unique flavor for the product to conquer consumers. For developed markets of high requirements like Korea, Vinamilk also focuses on investing in brand recognition, image design, ... to create an impression when the product launches.
|Vinamilk and its partners spent a lot of time studying the market, researching and developing products.|
Starting in June 2020, Vinamilk's soymilk and milk tea products have been sold on Korean e-commerce sites including 11St and eBay. In Korea, e-commerce is very developed, the trend of online shopping is increasingly popular with the country's people, taking by over 50%. Moreover, this trend is exacerbated by the social distancing in Korea due to the Covid-19 pandemic when people are restricted from going out. In addition, convenience store chains such as CU, GS25 and 7-Eleven are also considered this product line's suitable distribution channels to reach the target customers in the near future, said Seol Boo Chun.
|Korean consumers are easy to buy Vinamilk's products on e-commerce sites now.|
Mr. Vo Trung Hieu - International Sales Manager of Vinamilk said: “Vinamilk is known as the leading milk brand in Vietnam, constantly appearing in prestigious rankings of organizations including Forbes and Nikkei. In addition, Vinamilk's products meet European and American quality standards, which are trusted by Korean consumers. With thoughtfully preparation, Vinamilk confidently steps into the big playground, competing with domestic manufacturers in Korea to win this market. ”
|Vinamilk is known as the leading milk brand in Vietnam, constantly appearing in prestigious rankings and trusted by consumers.|
Vinamilk startes to achieve in 2020 with a US $ 20 million dairy export contract exporting to the Middle East signed at Gulfood Dubai International Fair. Then, in conditions of social distancing, the company successfully exported the first batch of condensed milk to China and many other countries. Only in the first 6 months of 2020, amid a lot of big fluctuations in international business due to the Covid-19 pandemic, Vinamilk continued to record achievements from the export segment thanks to its stable and certain operations for production and business, and actively exploring potential international markets. Recently, Vinamilk has been rated by Forbes Vietnam as one of the Top 50 Best Listed Companies in Vietnam 2020 and also the only nutrition company in this ranking.
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