The powerful woman of the billion dollar luxury empire

The billionaire won over the flight attendant by patiently booking tickets to fly with her on the flights she served, just to have the chance to meet. In 1995, the couple got married, but Thuy Tien did not “settle down” to be the billionaire’s wife, but instead studied business.

After a difficult process of proving her ability, her husband and the Board of Directors trusted her to become the CEO of the group in 2004. The businesswoman built IPPG into the leading retail group in Vietnam, accounting for nearly 70% of the domestic distribution market for international luxury goods with more than 1,200 stores nationwide, cooperating with 138 famous international brands and creating jobs for more than 25,000 employees.

Billionaire Johnathan Hanh Nguyen conquered Ms. Thuy Tien by patiently booking airline tickets on the flights she served many times.

First of all, thank you for taking the time to share with Thanh Nien Newspaper . How were your early days of changing your business direction?

Hello Thanh Nien Newspaper readers . In the early days of business, I felt like I was entering a new world, without a script like in movies, without a clear itinerary like the flights I had served. Everything was new, full of challenges, but full of opportunities to learn.

At first, I faced a lot of skepticism from myself and those around me. I never considered it a barrier, but rather a motivation to prove myself. I threw myself into my work with the spirit of continuous learning, learning seriously from failures, and being willing to do the smallest things to gain a deeper understanding of the retail and fashion business industry.

Actress Thuy Tien was once considered one of the "four great beauties" of Vietnamese cinema.

Business is not easy, I quickly realized that transparency, compliance with the law and long-term vision are the keys to building sustainable success. Every decision, big or small, is the first brick laying the foundation for future development. And most importantly, I did not go it alone - I built and had a management team to accompany me, share the same vision, and conquer new milestones together.

How did you overcome that difficult start?

At that time, the company was in its early stages and did not have a solid foundation like it does now. I had to find ways to build and maintain the business from scratch.

In 1995, Mr. Hanh assigned me to be the executive director of the 10,000 square meter Mien Dong supermarket after a short-term management course. This was a modern sales model with an unprecedented large scale, so I had to find sources of goods for the supermarket. Thanks to many unique and high-quality imported goods, Mien Dong supermarket was very famous.

These new things stimulated my “toughness” spirit. I was well aware that no one was born good at business. While my colleagues had a foundation, I chose to “work day and night”, delving into books, discussing with experts, and learning from Mr. Hanh and those who went before me. There was pressure all around, but it was also a golden opportunity to practice leadership thinking.

The next challenge is how to establish trust with partners. I understand that many people are skeptical, thinking that my position is only due to Mr. Hanh's reputation. Instead of feeling inferior, I rush to prove my true ability. I do not hesitate to do small things, and am ready to jump into "difficult" negotiations.

My journey of overcoming difficulties can be summed up in two words: “never retreat”. Through each stumble, I decided to move forward with a stronger will and sharper skills. In 2005, we opened a series of duty-free stores at many airports and distributed high-end imported fashion products.

Female entrepreneur works hard to prove her ability, building her corporation into a luxury empire

Up to now, IPPG is known as a business with more than 39 years of experience in investment and development in Vietnam with a total invested project of more than 650 million USD.

Our company operates in many fields: investment and operation of international airport terminals, duty-free shops, advertising services, catering, import-export, investment, management and operation of commercial centers and is the exclusive distributor in Vietnam with more than 138 international brands ranging from high-end segments such as Rolex, Burberry, Versace, D&G, Salvatore Ferragamo... to mid-range segments with brands such as Nike, Levi's, Tommy Hilfiger, Calvin Klein... We have invested in a chain of more than 1,200 retail stores for fashion, cosmetics, fast food... across major airports in Vietnam and inland.

In 2004, Mr. Hanh stepped back to let you shine. Did you feel any pressure at that time?

It was not simply a “shining” but a turning point challenge in my career. With the halo comes responsibility, I understood that I was not only taking over a large enterprise, but also continuing a vision, a legacy that he had worked hard to build.

The pressure does not come from comparison or expectations of others, but from myself - I want to be more than just a successor, I want to be able to create and take the business further. Every decision I make affects not only myself, but also thousands of employees, partners and the development of the entire ecosystem that IPPG has built.

To get to where she is today, businesswoman Thuy Tien has undergone rigorous training from her teacher and life partner.

I am not afraid of pressure, because great challenges always come with great opportunities. I am not alone on this journey. I have a strong and experienced management team, core values that guide me, and most importantly, I have the absolute trust of my “mentor”.

As a woman running such a large company, do you find it more advantageous or difficult?

Being a female boss is sometimes like walking in high heels, requiring confidence and steadiness, while holding a silk fan symbolizing “soft power”. That is how we women utilize our subtlety, ingenuity, and empathy to lead the company, balancing between decisiveness and gentleness, inspiring each member.

I see that there is still a gender bias that makes some people judge female bosses by two different standards: if they are too determined, people say "what a tough woman", and if they are too gentle, people say "indecisive". Most Asian female bosses still carry the responsibility of a wife and mother, always having to balance the company's work and finding time for their family.

Thuy Tien and her daughter Thao Tien accompany each other in many events.

But I always tell myself, in the digital economy, whether you have time or not depends on how you proactively arrange it scientifically and delegate authority appropriately to managers. No matter how busy you are, don't forget to put on lipstick and smile brightly. Spreading positive energy is the key to helping me and the group always move forward.

As a unit that brings the world's leading luxury brands closer to Vietnamese consumers, in the context of an increasingly difficult economy, what do you do to always stand firm against the storm?

The volatile economic landscape, especially after the Covid-19 pandemic, is an unprecedented challenge for all businesses and IPPG is no exception. In a crisis, businesses that are flexible and have a clear strategy will be the ones to stand firm.

First of all, we proactively restructure the business, digitize the group's administration, optimize operating costs and improve work efficiency.

CEO Le Hong Thuy Tien represents IPPG to sign a cooperation agreement with ACV, becoming the two co-hosts of Trinity Forum 2024.

I focus on innovation: from business strategy, retail model to customer approach. As consumer behavior changes, we cannot keep the old way of doing things but must digitalize in approaching and interacting with customers, expand the e-commerce platform, develop a multi-channel business model to adapt to the new era.

During the most difficult period, instead of just thinking about cutting down, we focused on training and restructuring our staff in a streamlined and compact way to strengthen our "good" capacity evenly across all fronts in the fields in which the group is operating.

As a woman, good at business, but also going through the stages of giving birth, raising children... How do these things affect you in being able to "take care of national affairs and be good at housework"...

I gave birth to Thao Tien, commonly known as Tien Nguyen, in 1997 and William Hieu Nguyen in 1999. Running a business is already a tough test, but being a mother and CEO is like competing in multitasking at the “Iron Woman” level.

Having and raising children not only impacted my work, it also enhanced my leadership skills in a way that no school could teach.

For example, negotiating: Try convincing a child to eat green vegetables and less fried food, then negotiating with a partner will be much easier. And crisis management: When you can handle two children's midnight tantrums without losing your temper, any stressful meeting will seem like a light conversation. And time management: A busy mother can manage to have a strategy meeting, check financial reports and still remind her child to take medicine on time or coordinate her outfit perfectly for a party, then there is certainly no work deadline that can't be difficult for her!

Being a mother helps Thuy Tien see business from a different perspective.

So the journey of motherhood is a valuable experience that helps me become a sharper, more patient, more balanced leader with a heart big enough to both love my family and conquer the business world with all my passion.

What is special is that being a mother helps me look at business from a different perspective. I don't just think about profits or business development, but also think longer term, about the sustainable values that I want to create and the business ethics that inspire the younger generation.

Everyone knows that Mr. Johnathan Hanh Nguyen accompanied her in business and guided her in the early days, but what about now? Who will decide other matters in the family?

At work, Mr. Hanh is the chairman, the absolute boss, no more discussion. At home, just like any other married couple, Mr. Hanh usually decides the big things, and leaves the small things to his wife.

But, as you know, at home, there are usually more small things than big things (laughs). Just kidding, I don't think that a family has to have one person who makes all the decisions, but the important thing is understanding, trust and sharing.

The businesswoman impressed with her youthful and kind appearance.

On social media, wherever you appear, people comment: you are beautiful, with an overwhelming aura. When you were young, you were called one of the "four great beauties" of Vietnamese cinema along with Viet Trinh, Diem Huong, Diem My 6X. Now, people remember you for your modern, kind appearance. So in your opinion, is it important for women, besides being good at making money, to take care of their family and themselves?

Oh Tien, thank you very much for your kind compliments, but I believe that "charisma" is not just about appearance but is a combination of courage, experience, and daily efforts to take care of your spirit and yourself.

It is good for women to be good at making money, but if they only focus on work and forget about themselves, it is like a business that has revenue but forgets to reinvest. A smart CEO must not only manage the company but also manage their appearance, health and spirit, because they themselves are the most valuable "asset".

CEO Thuy Tien and IPPG link business development with community activities

To me, a versatile businesswoman in a flat world is not someone who is so busy that she has no time for her family, but someone who knows how to organize her work so that it runs well, her home is still warm, and she herself is still radiant.

So, I always remind myself to make money well, but also to love myself. A woman who knows how to take care of herself is not only more beautiful but also stronger and happier. When women are happy, radiating positive energy, the whole world around them is happier.

Young people born in the 80s and 90s also know you in another role, that of mother-in-law of the beautiful Tang Thanh Ha. Can you share a little about the mother-in-law - daughter-in-law relationship when the appearance of the two mother and daughter is almost the same in age?

I always believe that in any relationship, there needs to be understanding and mutual respect. Ha is not only a child in the extended family but also a colleague of mine. She is very hard-working and passionate about business. We do not have rigid boundaries, always treating each other with sincerity and openness.

The female CEO is also known by the 8X and 9X generations as Tang Thanh Ha's mother-in-law.

I appreciate Ha's independence, bravery and the way she takes care of her family, as well as the way she preserves traditional values in modern life.

I am very grateful and appreciative when people compliment me and Ha that there is almost no age difference. But more importantly, I think that when a woman lives positively, loves herself and appreciates life, she will always radiate radiant energy. And that does not come from age, but from the soul.