Fortune Magazine recently released the Fortune Southeast Asia 500 list. This is a ranking of the top 500 companies in Southeast Asia by revenue in 2024. Fortune Magazine highly values ​​the importance of Southeast Asia as the region has increasingly achieved remarkable achievements in the global economy thanks to the shift in supply chains and high economic growth. “The Fortune Southeast Asia 500 list shows the dynamism and rapid change of Southeast Asia – a region with core economies that are growing significantly faster than those in Europe or the US,” said Clay Chandler, Editor-in-Chief of Fortune Magazine for Asia. The list of 500 companies comes from 7 Southeast Asian countries: Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines and Cambodia. Fortune's report said that the total revenue of these 500 companies in 2023 is 1.8 trillion USD. The minimum revenue threshold to be included in the Fortune Southeast Asia 500 list is 460.8 million USD. Accordingly, Vietnam has 70 companies on this list. In the consumer - retail sector of essential goods in Vietnam, Masan Group is the leading company in Fortune's rankings with 2023 revenue reaching more than 3.2 billion USD. With more than 28 years of operation, Masan has built a consumer platform with strong brands in the FMCG sector with a domestic output market size of nearly 24 billion USD. With a vision of serving 8 billion consumers worldwide and the “Go Global” strategy, Masan estimates that its market value can increase 131 times. The consumer - retail segment with two subsidiaries, Masan Consumer (MCH) and WinCommerce (WCM), accounts for more than 80% of Masan Group's revenue. In particular, Masan Consumer products are familiar to Vietnamese consumers in many different living spaces. MCH has gone from the kitchen corner to products in the refrigerator, products in the living room, and bathroom. Currently, MCH has 5 big brands with revenue of 150 - 250 million USD for each brand: CHIN-SU, Nam Ngu, Omachi, Kokomi, Cafe Wakeup 247. The company's new goal is to build 6 big brands with revenue per brand reaching 1 billion USD, including CHIN-SU, Omachi, Cafe Wakeup 247, Vinacafe, Chanté, Tea 365. "MCH's average annual growth is 14%/year, double the growth of domestic companies and in Southeast Asia. Consumers only need 5 minutes to buy an MCH product, and the probability of finding a Masan product in the kitchen corner, bathroom corner, refrigerator... of Vietnamese families is 98%", Mr. Truong Cong Thang, General Director of Masan Consumer shared. Masan also pointed out that the current FMCG market size that MCH is serving is only worth 8 billion USD, while the total market size in Vietnam is up to 32 billion USD. Therefore, Masan decided to build a new FMCG model with a strategy of building 6 billion USD big brands; bringing big brands and Vietnamese cuisine to the world and becoming the pride of Vietnam. In the future, Masan aims for every family in the world to have at least one product of this group. At the 2024 Annual General Meeting of Shareholders, Mr. Nguyen Dang Quang - Chairman of the Board of Directors of Masan Group said that Masan's products "carry moments of concern, passion and sweetness in the moments of serving consumers. It is also the Vietnamese culinary ambassador to elevate Masan's journey to the world, once again working with Vietnamese consumers to find ways to take solid steps in the journey of bringing Vietnamese cuisine to 8 billion consumers in the world with strong brands". In the retail sector, WinCommerce with the WinMart supermarket chain, WinMart stores, WiN is the largest modern retail chain in the country. Wincommerce's revenue reached 30,000 billion in 2023 and is expected to increase to 33,000 billion in 2024. Of which, the mini mart chain, which accounts for 75% of revenue, has doubled its sales in the period 2019 - 2023, and more than 2,000 stores have made a profit in EBITDA (nearly 10 times compared to the figure in 2019). Since the end of 2023, WCM has rebuilt its pricing strategy, communicated prices to customers through employees in stores, as well as communicated on digital platforms about the prices of goods in WCM. Along with that, this retail business also ensures competitive prices compared to the market, bringing "good price" products to consumers in both urban and rural areas. In addition to the program of saving 20% ​​on MEATDeli chilled meat and WinEco clean vegetables for WiN members, WinCommerce regularly carries out periodic promotional programs, has been developing private label products including: Ngoc Nuong Rice, WinMart Good (dried food), WinMart Cook (processed food), WinMart Home (household appliances), WinMart Care (personal care) with prices 10-20% cheaper than products in the same segment on the market. Depending on the "warming" of the consumer market, WinCommerce will open 400-1,000 new stores this year. In addition to the two "growth engines" Masan Consumer and WinCommerce, Masan Group also owns subsidiaries holding leading positions in many fields such as Masan MEATLife (meat value chain), Phuc Long (F&B retail chain), Masan High-Tech Materials (high-tech industrial materials)... Source: https://tienphong.vn/masan-group-trong-top-500-cong-ty-lon-nhat-dong-nam-a-theo-binh-chon-cua-fortune-post1647654.tpo