Vico Co., Ltd: Stable Development Makes Groundbreaking Performances

Vico Co., Ltd was set up in 1994 in Hai Phong City from the upgrade of Sao Bien Co., Ltd. After 19 years of operation, from a small outsourcing unit, Vico has now become a leading producer and trader of cosmetics and detergents in Vietnam. With annual sales growth of 10 -15 percent and 12 percent of the domestic market, Vico Co., Ltd can go shoulder to shoulder with world-famous brands in the country like P&G, Unilever and ABa.

Vico is the manufacturer of “Vi Dan” detergent which used to dominate up to 50 percent of market share in northern Vietnam in the 2000s. The popularity of the “Vi Dan” detergent was gained not only by prestige, quality but also by price and diversification. The utilisation of locally sourced inputs, broad distribution systems, localised production and delivery, economical packaging and word-of-mouth advertisement helped the company to develop sustainably and strongly. Besides, the company introduced new generation detergents to the market like Automatic Vico and Vico Grand, Vico dishwashing liquids, cleaning dishes, fabric softener, and Truong Sinh purified water. The company's products are not only favoured in domestic markets but also interested in foreign markets such as China, Taiwan, Iraq and Russia.

Speaking of the company’s upcoming development direction, General Director Nguyen Mong Lan said “Although my company holds 12 percent of domestic market share, I still feel a bit sad to see the domination of foreign brands. I feel regret not to be powerful enough to push back foreigners to give way to domestic detergent brands. In 2013 Vico targets at sales growth of 20-25 percent and revenue of VND20,000 billion.

 

With its excellent business performances, the company has been awarded many honours in the past five years like Vietnam Standard Goods Cup and Vietnam Gold Star Award. Remarkably, Vico was granted to the Third-grade Labour Order by the State President. Vico far has to date received 60 gold medals and 40 gold cups and Vico is always on the Top 10 brand list in any domestic and international trade fairs. Mr Nguyen Mong Lan was named the "Outstanding Entrepreneur" title by the Prime Minister and awarded the “National Emulation Fighter” title.