AkzoNobel N.V. (AKZA; AKZOY) has completed the sale of its Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion ($11.6 billion) on October 5. Poland-based headquarter of AkzoNobel This is a key milestone in the history of AkzoNobel, creating a focused paints and coatings company with market leading position, strong global brands, and a clear strategy to create value for all our stakeholders. “This is also an important step for the Specialty Chemicals business and I would like to take this opportunity to thank our colleagues and wish them a successful future with Carlyle and GIC,” Thierry Vanlancker, CEO of AkzoNobel, said. Charles Shaver, CEO of Specialty Chemicals, said: “I am delighted to assume my new role at Specialty Chemicals and look forward to working with the management team, Carlyle, and GIC to deliver long-term success. Specialty Chemicals has a strong global presence and a talented and dedicated … [Read more...] about AkzoNobel sells Specialty Chemicals to The Carlyle Group and GIC
Global brands group
Four Seasons, a leading hotel management group, has made it to Vietnam Since the start of this year, a number of new brands have landed in markets across Vietnam, such as Mandarin Oriental and Movenpick in Ho Chi Minh City, and Best Western Premier in the central province of Quang Binh. Earlier, renowned brands had made forays into Vietnam’s hospitality industry, such as Ozo and X2Vibe in Quang Nam, Double Tree by Hilton in Halong city, Vung Tau, and Hanoi, Four Seasons in Quang Nam and Hanoi, and Glow in Danang. In late May 2018, Aman Resorts, a premier resort chain, has officialised its presence in Vietnam through joining hands with local partner Novaland Group to put the Azerai luxury hotel chain into operation. Azerai Can Tho was selected by US newspaper The New York Times as one of the premier resort venues for visitors in 2018. Since the start of this year, a number of leading hotel management brands have landed in markets across Vietnam. InterContinental Hotels … [Read more...] about Leading hotel management brands set foothold in Vietnam
Walking out of a hairdressing salon on Dao Tan Street in Hanoi, 24-year-old Ms. Ngoc Linh felt quite pleased with her new curly blonde hair, despite the VND1.5 million ($65) price tag. This was the third time in the month of April she had spent money on hair care, which she would never have done two years ago. “Japanese technology and hair care products are suitable for my hair, so I’m happy to spend money on it,” she said happily. “Everything feels better.” Potential for foreign brands Vietnamese are definitely spending more on hair care. Recording healthy growth annually, Vietnam’s cosmetics industry holds great promise for foreign firms seeking to expand overseas, according to Nielsen Vietnam. While nominal growth in total personal care in traditional trade increased 1.5 per cent in 2017, compared to 5.2 per cent in 2016, the personal care category saw a boom in terms of modern trade channels, up 9.2 per cent across modern … [Read more...] about Local beauty care brands must change to compete
RedSun ITI has taken its chain of Truly Viet restaurants to Australia under the franchise model.— Photo RedSun ITI RedSun ITI has taken its chain of Truly Viet restaurants to Australia under the franchise model. It has set up a joint venture with an Australian partner to open the first restaurant in Melbourne with a menu that features four popular traditional Vietnamese dishes, goi cuon (fresh spring roll), pho (noodle soup), banh mi (Vietnamese sandwiches), and bun cha (vermicelli with grilled pork and fresh herbs). The company’s deputy director, Le Vu Minh, said the dishes have been tweaked to suit local palates. RedSun ITI has already negotiated with partners in Laos to open a chain of King BBQ restaurants there. Founded in 2008, RedSun ITI now operates several restaurant brands -- King BBQ, King BBQ Buffet, ThaiExpress, Seoul Garden, Khao Lao, Hotpot Story, Sushi Kei, and Capricciosa -- with 140 restaurants nation-wide. It launched its first franchise concept, King … [Read more...] about Franchising takes Vietnamese brands to the world
Companies in Vietnam have experienced fierce competition over the last few years, both qualitative and quantitative. Many have been forced to close down while others are still in business but struggling to move forward. The question is how to make a brand not only sustainable but also grow in value in the context of fierce global competition and rapid digitalization. There are many approaches to answering this question. Here I note the three key driving forces for brands: digital transformation, globalization, and brand leadership. In my observation, these forces help grow a company’s brand value if implemented successfully. Customer-centric digital transformation Unlike in the past, customers now have many brand choices for a particular product in Vietnam. Let’s take bakery goods for example. Customers would have previously mentioned Kinh Do in the south or Hai Ha in the north, but today they may name a long list of bakery brands: Top Cake, Tous Les Jours, ABC, … [Read more...] about How best to maintain brand value?