Vinh Hoan Corporation announces reorganization to focus on core business areas
02 August 2016
HO CHI MINH CITY, Vietnam, August 3, 2016 — Vinh Hoan Corporation (VHC) one of the world’s largest sustainable aquaculture companies, today announced a reorganization into three divisions. The divisional names reflect the different aspects of the company’s global aquaculture business: food, wellness, and research. The new structure is intended to clarify these divisions to stakeholders in the markets Vinh Hoan serves.
Each division represents a different aspect of the company’s sustainable aquaculture business:
- Vinh Foods: Provides premium seafood from sustainable aquaculture.
- Vinh Aquaculture: Helps advance sustainable tropical aquaculture with a combination of research, development, and education.
- Vinh Wellness: Provides premium wellness products derived from sustainable aquaculture.
This reorganization comes just ten weeks after Vinh Hoan appointed its new CEO, Ms. Nguyen Ngo Vi Tam. Tam said that naming the new divisions simply delineates the three main areas that Vinh Hoan has already been working with. She feels the move will help each of the business areas compete more effectively in the global market. “Establishing distinct divisions will provide greater visibility in the market and will help us to focus our work and market communication,” said Tam.
The introduction of the new divisions includes an update of Vinh Hoan’s graphic profile and brand identity created by the US/Sweden-based international marketing consulting firm, Duffy Agency. Duffy Agency’s CEO, Sean Duffy said, “The new divisions allow Vinh Hoan to explain the value it offers to its global markets with far greater clarity and focus.” This is the first such update to Vinh Hoan’s profile since the company was founded in 1997.
The aquaculture industry has been growing at an average rate of 9.2% for the past two decades, making it the fastest growing sector of the food industry. Steady growth is forecast to continue for at least the next two decades in order to keep up with global population growth and increased demand for food. The challenge, as Vinh Hoan sees it, will be to ensure that the growth of the aquaculture industry happens in a manner that is both environmentally and economically sustainable. “Product safety and environmental sustainability are no longer optional in the aquaculture business. They need to be built-in from the start,” said Max Basch, Vice President of Sales at Vinh Hoan in Los Angeles. Basch believes that new aquaculture producers who fail on those two counts will find it increasingly difficult to find markets for their products.
Vinh Hoan’s founder and Chairwoman, Mrs. Truong Thi Le Khanh, maintains that the advancement of aquaculture goes beyond simply satisfying the protein demands of a growing populace. Since most of the growth in both population and aquaculture will occur in the tropics, the company sees sustainable aquaculture as a means for developing nations to create jobs, revitalize economies, and take pressure off wild fish stocks — while, at the same time, delivering safe, healthy, food and wellness products to millions of people around the globe. “Leading that change by example and by education is Vinh Hoan’s greater purpose,” said Khanh.
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