3Q22 Newsletter

3Q22 Newsletter
for the quarter ended 30 September 2022

3Q22 Newsletter
for the quarter ended 30 September 2022

Some of the data here are the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately.

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Spotlight On Mekong Capital

Spotlight On Mekong Capital
Appointed Max-F. Scheichenost 
as Partner

July 2022, Mr. Max-F. Scheichenost was appointed as Partner, focusing on Digital, Technology and Growth.

In his capacity, he successfully built a high-performance team consisting of  7 experts in the areas of Digital Transformation, Digital Workplace, Customer Experience, and Business Intelligence.  He was also the coach for Mekong Capital’s investee companies to discover the power of Vision-Driven Investing, and generate a variety of breakthrough results.

Spotlights On Investee Companies

Spotlights On Investee Companies
Pharmacy-chain points of sale grew 240% YoY

In the first 9 months, LiveSpo’s product coverage increased 240% YoY in pharmacy-chain points of sales. Alongside its steady footprint expansion, in August, LiveSpo’s R&D capability achieved a breakthrough milestone when Nature journal validated and published LiveSpo’s research on the effectiveness of LiveSpo NAVAX nasal spray.

Pharmacy-chain points of sale grew 240% YoY
192% YoY revenue growth

By end of 30 September 2022, the company achieved 192% YoY revenue growth. The result was driven by Vua Nem’s same-store sale growth over the first 9 months increased 92.8% YoY.

 192% YoY revenue growth
Number of tests increased by 143% YoY

Gene Solutions’ number of tests increased by 143% YoY for 3Q22, in which its prenatal testing (NIPT tests) attributed 87%. The growth was also driven by new advanced products for prenatal testing namely triSure Procare, and for cancer-related testing include SPOT-MAS and K-Track.

Number of tests increased by 143% YoY
New offline enrollments increased 80% YoY

In 3Q22, YOLA Summer campaign running from June to the end of August boosted new offline enrollments, reaching 80% growth compared to the same period last year.

New offline enrollments increased 80% YoY
Production volume rose         66% YoY

Entobel invested in purchasing additional machines and building new black soldier fly screen house, resulting in an increase in production volume by 66% YoY in the first 9 months.

Production volume rose         66% YoY
Increased 20% SKUs at Beauty Box chain

In 3Q22, HSV Group focused on diversifying product offerings at the Beauty Box chain, resulting in a 20% increase in SKUs. This demonstrated Beauty Box’s commitment to bringing “beauty of confidence” to women through continuously elevating customers’ experience.

Increased 20% SKUs at Beauty Box chain
Revenue increased 30% YoY

Nhat Tin’s revenue increased 30% YoY in 3Q22, driven by Nhat Tin’s constant focus on its employees’ performance, through (1) trainings for front-line staff and middle-level managers, and (2) a new incentive scheme called “Introduce new customer to Nhat Tin” to encourage referrals for new customers from Nhat Tin’s employees.

Revenue increased 30% YoY
Opened 85 new branches

In 3Q22, F88 opened 85 new branches, reaching a total of 786 branches across all 63 cities and provinces of Vietnam.

Opened 85 new branches
Opened Maison Marou Nguyen Du 

In August, Marou welcomed the new Maison Marou at 57 Nguyen Du street, District 1 (Ho Chi Minh City). Thus, the total number of Marou retail stores reached 7 stores nationwide as of 30 September 2022.

Opened Maison Marou Nguyen Du
Opened Pizza 4P’s at Hikari Binh Duong 

In September, a new “Zero-waste” restaurant of Pizza 4P’s opened at Hikari Binh Duong, highlighting the company’s commitment to Sustainable development with no food waste, recycled packaging, and farm-to-table dining experience. As a result, the total number of Pizza 4P’s restaurants increased to 27 across the country.

Opened Pizza 4P’s at Hikari Binh Duong
58% YoY revenue growth

Mutosi’s revenue increased 58% compared to the same period last year thanks to its footprint expansion at modern trade retails, particularly at 116 new points of sales from Dien May Xanh (a supermarket chain of Mobile World Group).

 58% YoY revenue growth
Opened transaction center in Da Nang 

In September, Rever opened a new transaction center in Da Nang. This is the first transaction center outside of Ho Chi Minh city in a total of 6 transaction centers of Rever.

Opened transaction center in Da Nang
Appointed new Chief Executive Officer 

In September, Pharmacity announced Ms. Tran Tue Tri as its new Chief Executive Officer. With over 25-year experience in the retail and consumer sectors, Tri is leading the sustainable growth in Pharmacity’s next phase of development while upholding its commitment to health and wellness for over ten million of its loyal members.

Appointed new Chief Executive Officer
Opened the 7th BiaCraft

Red Wok continued delivering the fun and loving core values through its hero BiaCraft chain, welcoming the 7th BiaCraft location at K300 Cong Hoa, Tan Binh district (Ho Chi Minh City).

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