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19-01-2018, 02:47 PM
Fish Sauce Helps Vietnam Mint Its Newest Billionaire
By Yoojung Lee
January 19, 2018, 7:00 AM GMT+8
For Vietnamese consumer tycoon Nguyen Dang Quang, placing his fish sauce and other "must-have" condiments in the kitchen shelves of just about every home in the country has helped make him a billionaire.
Shares of Masan Group, which produces the sauce made from fermented fish that’s widely used in Vietnamese cuisine, have more than doubled in the past six months, compared with the 37 percent gain in Vietnam’s benchmark VN Index. That lifted the net worth of Quang, the company’s chairman and founder, to $1.2 billion, according to the Bloomberg Billionaires Index.
"Masan serves consumers with ‘must-have’ ones like fish sauce, instant noodles, to ‘nice-to-have’ items like chili sauce, rice soup or sausage," said David Anjoubault, general manager at Kantar Worldpanel Vietnam, a research firm that estimates about 95 percent of households in the country uses at least one Masan consumer product. "Local food manufacturers like Masan have a good and deep understanding of shoppers’ needs and behaviors in the country where localization is a vital success factor."
More details in https://www.bloomberg.com/news/articles/...illionaire
By Yoojung Lee
January 19, 2018, 7:00 AM GMT+8
For Vietnamese consumer tycoon Nguyen Dang Quang, placing his fish sauce and other "must-have" condiments in the kitchen shelves of just about every home in the country has helped make him a billionaire.
Shares of Masan Group, which produces the sauce made from fermented fish that’s widely used in Vietnamese cuisine, have more than doubled in the past six months, compared with the 37 percent gain in Vietnam’s benchmark VN Index. That lifted the net worth of Quang, the company’s chairman and founder, to $1.2 billion, according to the Bloomberg Billionaires Index.
"Masan serves consumers with ‘must-have’ ones like fish sauce, instant noodles, to ‘nice-to-have’ items like chili sauce, rice soup or sausage," said David Anjoubault, general manager at Kantar Worldpanel Vietnam, a research firm that estimates about 95 percent of households in the country uses at least one Masan consumer product. "Local food manufacturers like Masan have a good and deep understanding of shoppers’ needs and behaviors in the country where localization is a vital success factor."
More details in https://www.bloomberg.com/news/articles/...illionaire
Specuvestor: Asset - Business - Structure.