Taste for innovation driving SABECO’s latest strategies

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SABECO is on track to make significant inroads with product innovation and transformation for the future, with the beverage giant’s endless efforts to please consumers in an ever-changing economic and cultural environment for drinkers.
1524 p25 taste for innovation driving sabecos latest strategies
SABECO is consistently ranking among the best and most valuable Vietnamese companies as it continues to expand its horizons

The beer shelves in Vietnam, one of the largest and fastest-growing beer markets in the world, are crowded, full of products from breweries new and old vying to set themselves up as a staple in the public’s consumption habits – or attempting to hang onto their steadfast clientele by endeavouring to reinvent themselves.

Saigon Beer Alcohol Beverage Corporation (SABECO) in particular has been focusing on ensuring its brands capture the heart and spirit of the Vietnamese, especially consumers’ optimism and increased expectations for excellence today. After a 145-year history that has made Vietnamese people proud of its products, today SABECO’s commitment to open innovation is paying off.

1524 p25 taste for innovation driving sabecos latest strategies
Bia Saigon Gold is just the latest in a range of innovative offerings for beer lovers

This year’s woes could not destroy SABECO’s plan to launch new products in its journey to meet customer demand. As usual in the coming of the new year, SABECO has launched limited edition as a gift for customers. For instance, Bia Saigon Gold’s new year limtied version with 18 cans has been meticulously designed, with images of a shining golden dragon. Bia Saigon Gold is a combination of luxury, modern Europe, and a mysterious charm.

Previously, so as to forge into the mid-tier segment, SABECO hoped to help lift its market share through launching a new beer named Saigon Chill to take over the premium beer segment by targeting enlightened, optimistic, and sociable Vietnamese consumers.

Bennett Neo, general director of SABECO, explained that even though the group boasts several major brands in mainstream segments, it is still able to develop and offer new brands. “That is why Lac Viet Beer was created, to expand the product portfolio. Saigon Chill, in addition, targets a young, dynamic customer group,” he added.

The launch of new products reaffirms SABECO’s long-term strategy to enhance brand positioning and expand its market with innovative and pioneering products and services, in line with changing consumer behaviour. In 2020, the group was able to keep on track with its strategy through project expansion of its brewery operation, helping to meet growing market demand. The latest move was the ceremony to mark the latest expansion stage of the Saigon-Quang Ngai Brewery project in the central province of Quang Ngai, at Quang Phu Industrial Zone.

SABECO’s strategy for innovation can be seen in its transformation activities in the business, from using digital technologies and transforming processes to harnessing data and improving information flow in order to make better decisions, while aligning with digital technologies where possible. Furthermore, the group has implemented numerous operational and strategic initiatives, including but not limited to improving margins by keeping costs and expenses in check, while increasing sales and raising public awareness of new packaging and products.

Reinforced position

Over the last two years, the firm has continued to record a strong position in the Vietnamese market and overseas with endless efforts, especially in the context of COVID-19 which has challenged the resilience of businesses and economies large and small. It has also ranked in the top five in terms of value on the list of top 50 most valuable brands in Vietnam by Forbes Vietnam, for the last five years in a row. It has also made the list of the 50 best listed companies for the last four consecutive years. SABECO is also in the top 100 largest public companies in Vietnam and one of seven domestic representatives named in the top 200 billion-dollar enterprise list.

SABECO in 2020 also harvested other high-profile awards including Top 50 best listed companies 2020 voted by Forbes Vietnam; Top 4 most valuable brands 2020 voted by Forbes Vietnam; Top 50 most effective companies voted by Investment Bridge Magazine; and Top 15 listed enterprises with the best business performance for 3 consecutive years at the programme of “Assessment of business performance for enterprises – Vietnam Best Company” developed by the Vietnam Chamber of Commerce and Industry.

In 2019, SABECO beat a raft of strong candidates from countries around the world to win the gold medal in the International Smallpack Lager Competition, Class 1 category at the International Beer Cup 2019.

Through these prestigious awards, SABECO and its Bia Saigon brand have illustrated that a Vietnamese product can compete on the international stage. Especially, it is the first brewery from Vietnam to gain such prestigious awards, elevating Vietnam’s pride and reputation in the brewing industry.

SABECO’s success is the fruit of many factors, the most important of which is its people, according to its general director. Its vision of sustainable development has also been enforced through activities in corporate social responsibility, accompanying the people and the government to overcome difficulties due to the ongoing pandemic.

In September, SABECO coordinated with the Vietnam General Confederation of Labour to launch the Rise with Vietnam relay programme with the aim of raising funds to support Vietnamese workers that were severely affected by the pandemic. Today, the company’s network includes 26 subsidiaries and 18 associates and joint ventures, with more than 145,000 product consumption channels spanning across the country. For the last three years, it has offered a brand portfolio consisting of some of the most well-loved beer brands in Vietnam, including Bia Saigon Special, Bia Saigon Export, Bia Saigon Lager, Bia Saigon Gold, Bia Lac Viet, Bia Saigon Chill, and Bia 333.

By Nguyen Thu

Nguồn: Vietnam Investment Review

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