(seafood.vasep.com.vn) Navico has officially signed a cooperation agreement to consume fish products with the retail chain Bach Hoa Xanh. This move is expected to help Navico increase sales in the domestic market, and help Bach Hoa Xanh diversify its fresh product portfolio.
Recently, Navico (ANV - HoSE) and Bach Hoa Xanh retail supermarket chain under Mobile World Investment JSC ( MWG - HoSE) signed a sustainable development agreement. Bach Hoa Xanh stores will distribute Navico’s fish products.
Navico is one of the largest pangasius exporters in Vietnam. Navico is the leading pangasius exporter of Vietnam, exporting products to more than 100 countries, including large and fastidious markets such as the US, China, Thailand. Besides pangasius, Nam Viet also produces other products such as collagen, gelatin, fish meal, fertilizer. Meanwhile, Bach Hoa Xanh chain is currently in the top 3 of the largest modern retail chains of fresh food and consumer goods in Vietnam. This chain currently has more than 1,700 stores (as of the end of May 2023), concentrated in Ho Chi Minh City and 25 provinces in the South and South Central Coast.
Navico has officially signed a cooperation agreement to consume fish products with the retail chain Bach Hoa Xanh.
Navico and Bach Hoa Xanh chain have cooperated in testing from March 2023 to present. A representative of Navico said that the two sides have reached 600 tons of consumption even after just over 3 months of testing, which indicates that the official cooperation in the future will be very promising. Bach Hoa Xanh chain currently distributes mainly fresh fish steak products of Navico.
Export revenue accounts for 93% of total sales from fish products of Navico. However, this move reflects some changes in the business strategy of Navico. In the challenging situation of seafood export, Navico tends to shift its activities and focus more on the domestic market. Leaders of Navico also expect that the cooperation with Bach Hoa Xanh chain will also boost the presence of Navico in the North region in the near future.
Navico is one of the largest pangasius exporters in Vietnam
On the side of the Bach Hoa Xanh chain, this retail chain is also pursuing a strategy of increasing fresh products to attract returning customers and increase order value.
Through the cooperation, Bach Hoa Xanh is committed to providing maximum support to Navico in promoting consumption in the domestic market as well as diversifying the product portfolio. Bach Hoa Xanh will ensure a stable and gradually increased consumption output if the product meets quality conditions; Meanwhile, Navico will support after-sales collection activities and technical measures to ensure product quality. Selling fresh fish at Vietnam's leading supermarket chain is just one of the directions in the current difficult context of the seafood industry.
Navico and Bach Hoa Xanh are also starting to test the distribution of frozen basa and pangasius products to domestic consumers.
Compiled by Thuy Linh