KIDO sees steady sales for Edible Oils, Frozen Food despite COVID-19

KIDO Group has reported steady sales in its edible oil and frozen food departments, all thanks to its fluid business strategies amidst the pandemic.
Tuong An Vegetable Oil JSC (TAC), one of its essential food division, has planned a commodity strategy with a focus on ensuring commodity supply for production, optimising inventory and ensuring sufficient goods to meet consumers’ essential needs at stable prices.
TAC has assessed market reactions to the impact of the pandemic from time to time to quickly grasp essential food consumption needs and the tendency to choose nutritionally pure products to improve health resistance and strengthen the immune system.
From that, TAC has promoted its premiumisation and diversification strategy, focusing on premium and key products; and has proactively improved and developed high nutritional value products to meet the needs of consumers.
It has also effectively exploited modern sales channels to continue increasing product coverage in traditional and modern channels.
The company reported a 23.5% rise in net revenue to Dong 1.043 trillion (US$44.5 million) and a 22.5% rise in pre-tax profit to Dong 37 billion (US$1.6 million) in the 1st quarter 2020 compared to a year ago.
Another of its company in the frozen food department, KIDO Foods, has also recorded an impressive profit with a 1st quarter pre-tax profit of Dong 27.3 billion (US$1.2 million), representing a 15.9% growth from a year earlier.
Amidst the COVID-19 pandemic, KIDO Foods has actively adapted its operation strategy by focusing on shifting distribution systems; promoting sales in supermarket, convenience stores and minimart channels; quickly grasping the shift in consumers’ needs and habits from traditional shopping to online shopping; integrating multiple channels to bring products to consumers; and enhancing its multi-channel strategy.
KIDO Foods has also carefully prepared backup plans in logistics, human resources and production in case of a prolonged and complicated epidemic. In order to maximise cost effectiveness and increase profit, it has continued to restructure, reduce unnecessary costs, apply information technology in asset management, and enhance business performance.
In addition to its diversified product portfolio with the capability of meeting the various needs of customers, KIDO Foods is a pioneer in product quality improvement and diversification, and often launches new brands that impress customers, including incorporating new snack trends into new products last year, such as Watermelon Ice cream, Bubble Milk Tea and Thai tea ice cream.