Vinamilk’s documents for annual general meeting of shareholders for 26 June 2020 have revealed the company plans to operate a chain/a system of stores retailing coffee and beverages along with certain food items under the brand name of “Hi-Café”.
In 2019, Vinamilk set up one store at the Head Office. During the course of running trials in order to evaluate its feasibility, Vinamilk has been working a partner with the ability of such a business line. In 2020 and years afterward, Vinamilk is in expectation to popularize this chain to different locations, of which its operations shall be put under the direct implementation and management of Vinamilk.
Vinamilk will make use of its existing 413 specialised milk stores to sell the coffee.
The Vietnamese dairy giant also plans to manufacture cane sugar and other types of sugar. The marketing department, in collaboration with the research and development department, is planning to develop commercial sugar products with functionalities (such as sugar for the diabetic, the dieters, etc.)
In addition to coffee shops and sugar, Vinamilk plans to start the retailing of bags, boxes, cartons, and other types of packaging. In order for the fulfillment of policy of coporate social responsibilities in recycling and protecting the environment, to which are paid a great deal of attention by the government and the society, and the increased awareness of consumers over single-use plastic bags, Vinamilk will be selling multiple-use plastic bags and other analogical bags, which are currently given complimentary.
In 2020, Vinamilk has set a revenue target of VND 59,600 billion, an increase of 5.7% compared to 2019. Profit before tax is expected to reach VND 13,000 billion, a growth of 1.6%.
