- Green Growth
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|Masan Consumer has completed the acquisition of 52 per cent of Net Detergent JSC|
Masan plans to work alongside NETCO to unlock potential synergies and drive double-digit top and bottom-line growth in the medium term. The immediate focus will be to integrate and synergise with Masan’s general trade distribution network with 300,000 points of sales and a modern trade platform with 3,000 supermarkets and minimart stores nationwide.
35-40 per cent of the home and personal care consumption is conducted through the modern trade channel. In addition, the company will develop a winning product portfolio with a particular focus on “premiumising” the portfolio.
|The production line at the NETCO factory|
Established in 1968, Net Detergent JSC (NETCO) is a leading local home care business. In 2018, NETCO delivered a net revenue of VND1.117 trillion ($48.57 million) and net after-tax profit of VND57 billion ($2.48 million), primarily driven by its two popular laundry detergent brands: NET and NETSOFT. The company’s current market share in the laundry segment is 1.5 per cent, trailing Unilever (54.9 per cent), Procter & Gamble (16.0 per cent), Dai Viet Huong (11.6 per cent), LIX (2.7 per cent), and Vico (2.4 per cent).
NETCO previously announced that it achieved the net revenue of VND1.157 trillion ($50.3 million) in 2019, which grew 3.6 per cent compared to 2018, and the net after-tax profit of VND81 billion ($3.5 million), up 42.3 per cent. Its net after-tax profit margin also improved to 7.0 per cent in 2019, from 5.1 per cent in 2018.