Vinh Hoan to reorganize, focus on core business
Vinh Hoan, one of Vietnam’s largest seafood exporters and its largest pangasius exporter, announced Wednesday, 3 August, a corporate reorganization that will create three divisions within the company, covering food, wellness and research.
Vinh Foods will focus on the company’s production of seafood, Vinh Aquaculture will seek to “advance sustainable tropical aquaculture with a combination of research, development and education,” and Vinh Wellness will provide “premium wellness products derived from sustainable aquaculture,” according to a company press release.
The reorganization comes 10 weeks after Vinh Hoan replaced its top leader, with Nguyen Vi Tam taking over from Truong Thi Le Khanh as CEO/General Director.Tam said in the release that the change will “help each of the business areas compete more effectively in the global market.”
“Establishing distinct divisions will provide greater visibility in the market and will help us to focus our work and market communication,” Tam said.
Vinh Foods represents the majority of Vinh Hoan’s overall sales, which totaled more than USD 160 million (EUR 144 million) in 2015. The company produces around 17 percent of the Vietnam’s total pangasius exports. Initial changes at Vinh Foods will be limited to a logo switch and website design upgrade.
“Vinh Hoan’s core customer base today are our premium pangasius buyers,” Max Basch, Vinh Hoan’s vice president of sales, said. “For them, it will remain business as usual under the new division name.”
Vinh Hoan’s marketing consultant, the Duffy Agency, which is based in the United States and Sweden, will be in charge of creating a new graphic profile and brand identity for the three divisions.
“The new divisions allow Vinh Hoan to explain the value it offers to its global markets with far greater clarity and focus,” Duffy Agency CEO Sean Duffy said.