Oil producer TAC to focus on mid-level, upmarket products
Tuong An Vegetable Oil Joint Stock Company (TAC) has said it will focus on developing products in the medium- and high-priced segments.
It said it would undertake promotional activities like digital marketing to improve brand awareness.
One of the biggest cooking oil producers in the country, TAC proved to be nimble last year by repeatedly adjusting its business plans after COVID-19 broke out.
This helped the company achieve pre-tax profit growth of nearly 30 per cent to VND221 billion (US$9.6 million).
Net revenues rose to a record VND5.2 trillion ($225,000), a 27 per cent rise from the previous year, with income from the mid-priced and high-end segments going up by 23 per cent.
To meet the Tet (Lunar New Year) demand, it has stocked raw materials since October last year. It plans to produce 100,000 tonnes of cooking oil to meet demand at Tet.
It also plans to roll out many new products for the holiday.
Founded in 1977, Tuong has been one of the largest manufacturers and distributors of cooking oil in the country.
It was acquired by KIDO Group in November 2016.