Persevering with to dominate the moment noodles trade in Japanese Europe when many individuals withdrew to the nation, the corporate associated to the VIB chairman has been valued at almost 1 billion USD since 2008, accounting for 1 / 4 of the market share in Russia.
Many Vietnamese entrepreneurs beginning out in Japanese Europe began with the meals trade, particularly the moment noodle enterprise.
Pham Nhat Vuong (Vingroup Chairman) based the well-known Ukrainian noodle model Mivina. In 2010, his noodle firm was offered to Nestlé for $150 million.
Billionaire duo Nguyen Dang Quang (chairman of Masan Group) and Ho Hung Anh (chairman of Techcombank) promote immediate noodles in Russia, every proudly owning a manufacturing unit with a capability of 30 million packages of noodles monthly.
Mr. Ngo Chi Dung (VPBank) and Mr. Dang Khac Vy (VIB Chairman) collectively began a enterprise with the well-known Russian model of Rollton noodles. Then again to Vietnam, each are founders of VIB Financial institution.
There are individuals who now not have something to do with the noodle trade, Mr. Pham Nhat Vuong and Mr. Ngo Chi Dung following the trail of actual property or banking. However there are two people who find themselves nonetheless hooked up to the product that made them profitable within the early days along with different companies.
Mr. Nguyen Dang Quang developed Masan Client, identified for its “Omachi” and “Kokomi” noodles, that are among the many hottest noodle manufacturers in Vietnam. Masan Client presently has a market capitalization of almost $Four billion.
Mr. Dang Khac Vy and VIB have an in depth relationship with Uniben, the proprietor of the “Three areas” and “Reeva” noodle manufacturers.
Nevertheless, few individuals know that Mr. Dang Khac Vy is the one one within the technology of “billionaires promoting noodles” who continues to take care of this enterprise section in Japanese Europe with a really respectable scale. Paperwork from VIB Financial institution present that Mr. Dang Khac Vy can also be the Chairman of Mareven Meals Holdings Co., Ltd., primarily based in Cyprus.
Mr. Vy holds the place of Chairman/Basic Director of Mareven till September 2019. At present, because the Chairman of the Board of Administrators of the financial institution, based on rules, Mr. Vy won’t maintain any place at another enterprise.
Mareven Meals Holdings is actually a holding firm, by means of which it operates noodle manufacturing and gross sales in Russia (by means of Mareven Meals Central), in Ukraine (by means of Mareven Meals Europe), and in Kazakhstan (by means of Mareven Meals). Tian Shan).
Amongst these three nations, Russia is the biggest market consuming about 2 billion servings of noodles in 2020 (ranked 12th on the planet). Ukraine consumed 320 million components and Kazakhstan consumed 280 million components.
Market share of Mareven noodles in Russia (Supply: Nissin)
Mareven’s scale in Russia may be very respectable, essentially the most well-known of which is the Rollton noodle model.
In 2008, Nissin – Japan’s main noodle firm purchased a 33.5% stake in Mareven Meals Central for $296.Four million, valuing the corporate at about $885 million. Mareven at the moment held 41% of the Russian noodle market, in a dominant place. Nissin grew to become a strategic shareholder of Mareven Meals Central, transferring to Japanese noodle manufacturing know-how.
At current, the dimensions of the Russian noodle market has elevated rather a lot. In keeping with Nissin’s report, Mareven holds about 46% market share.
That’s the Russian market alone, in 2018, Vietnamese house owners inaugurated the Mareven Meals Tian Shan manufacturing unit (Kazakhstan), with a capability of 400 million servings of noodles per yr, even bigger than the market measurement.
Mareven noodle manufacturing unit in Serpukhov (Russia)
As may be seen, Mr. Dang Khac Vy’s noodle enterprise remains to be worthwhile in Japanese Europe, 22 years after his institution. One of many vital turning factors was the sale of shares to strategic associate Nissin. Along with Mr. Vy, who was the Chairman of Mareven Holdings, Mr. Do Xuan Hoang – a member of VIB’s Board of Administrators, is presently the Basic Director of Mareven Meals Central (Russia).
As talked about, Mr. Dang Khac Vy and VIB have every contact with one of many prime 5 Vietnamese noodle producers – Uniben. Final yr, the corporate achieved greater than 3,000 billion in income and greater than 200 billion in revenue.
The Vietnamese noodle market is way bigger than that of Russia. Vietnamese individuals eat greater than 7 billion servings of noodles in 2020, rating third on the planet after China and Indonesia.
Curiously, the moment noodle warfare of Vietnamese bosses that occurred in Russia is now recreated in Vietnam in an upgraded model.
Mr. Nguyen Dang Quang owns Masan Client, producing almost VND 6,900 billion in income from the noodle section alone, 2.2 instances greater than Uniben. Masan Client loved robust development, particularly after Masan acquired the VinMart grocery store/comfort retailer system. Dominating the Vietnamese noodle market is Acecook (Japan), with a income of over 11,500 billion VND.
With Uniben, this firm not too long ago elevated its capital by VND 100 billion by means of issuance to present shareholders. Apart from, Uniben additionally offered Three million VIB shares to earn 210 billion dong. The continual fundraising strikes made many individuals query the motives of the proprietor of the “Three area” noodle model.
Uniben nonetheless owns 4.72% of shares in VIB, with a worth of roughly VND 2,700 billion.
