"Sold out" and profited 60 billion from selling moon cakes in 2022, KIDO "played big" and increased by 50% to 450 tons

Kido Group (KDC) has just announced that it will launch 450 tons of cakes, a 50% increase in output over the same period. In particular, the Company has invested in a new moon cake production line, thereby "sprinting" to achieve the goal of holding the No. 2 position in the mid-autumn market after 3 years (the orientation set from 2022). Mr. Tran Le Nguyen - General Director of KDC - said: "In 2022, KDC will return to the mid-autumn market after a period of absence. Of which, 300 tons of KDC cakes were sold out before the mid-autumn festival. Therefore, this year the Company aims to produce 450 tons of cakes, an increase of 50% compared to 2022. KDC currently owns a cake factory in District 12 (HCMC). Recently, we have invested in an additional moon cake production line". KDC used to be a "big guy" in the confectionery sector before selling to foreign partners. In 2021, the Company announced its return and expressed its ambition to win the Top 2 by 2025. Also in this year, KDC recorded 160 billion in revenue and 36 billion in profit during the first Mid-Autumn Festival season of its return. In 2022, revenue increased to 200 billion (up 25%) and profit increased sharply by 68% to 60 billion VND. Although this contribution is small compared to the ice cream and oil segment, the rate in the first stage of return is significant. It should be emphasized that before selling the confectionery segment, the third quarter - the time of the Mid-Autumn Festival - always contributed the largest profit to KDC with a proportion of up to 70-80% each year. Commenting on the market in the first 6 months of 2023, KDC assessed the development in a positive direction under the recovery efforts from countries. In Vietnam, the government's mechanisms, policies and incentives have recorded a GDP increase of 3.72%, CPI increase of 3.29% compared to 2022, retail sales of goods and services increased by 10.9% in value, the recovery of the tourism industry is the main growth driver of the economy. It is forecasted that in the third quarter of 2023, business development will tend to be more positive, many businesses will start recruiting more staff to support development goals. The market's purchasing power is good, continuing to maintain growth momentum towards smart consumption. In the moon cake segment, according to KDC, many recent studies show that consumers now prefer creativity and variation in moon cakes with delicious, new flavors and sauces, light taste, less sweet, and compact size to enjoy many different flavors. Along with that, the unique, different, luxurious packaging design to serve the gift-giving needs of friends, partners, relatives... is also of particular interest. On the other hand, with the continuous development of digital transformation, consumers tend to love multi-channel shopping as well as focus on convenient shopping. The age of the target audience is getting younger and younger, brands focus on product messages to create connections between generations of family members. According to Tri Tuc - Cafef Source : https://www.kdc.vn/tin-tuc/tin-tuc-su-kien/chay-hang-va-lai-60-ty-tu-ban-banh-trung-thu-trong-nam-2022-kido-choi-lon-tang-50-len-450-tan