New Retail model boosts Vietnam’s Seedcom
The Coffee House and TenRen’s Tea owner looks to technology to drive future growth.
Vietnam retail-management company Seedcom’s revenue has grown by 520 per cent in just four years, driven by its focus on New Retail.
Seedcom founder Dinh Anh Huan says the New Retail business model helps Vietnamese SMEs manage their businesses in a more efficient and affordable way by omnichannel engagement with customers, inventory management and supply-chain management, along with delivery services and payment platforms throughout the country.
“Data showed that Vietnam businesses were running on hundreds of thousands of business models but none of them were enough in helping these companies grow,” he said.
“So I was trying my best to come up with a solution that utilises new technology that can maximise profit and optimises operational costs. That inspired me to found Seedcom which means sowing new “seeds” into the current retail environment, to create a new retail business model.”
Nine brands are currently trading under the Seedcom umbrella, with The Coffee House the most well-known. Vietnam’s second-largest coffee chain, it has more than 140 stores and sold more than 10 million cups of coffee last year. To date, it is the only cafe chain in Vietnam with a delivery app.
TenRen’s is another food-and-beverage retailer under Seedcom, which has also invested in the food-distribution sector, including Cau Dat Farm and King Food Market.
Footwear chain Juno, with 96 stores nationwide, is another retail channel, which boasts more than 2.3 million visits to its website each month. Others are fashion companies Eva De Eva and Hnoss, and integrated logistics solution company Scommerce.
Seedcom is planning to improve customer experience with artificial intelligence (AI) in its New Retail model, starting with The Coffee House. Customers will soon be able to book a table before arriving.
Haravan will also introduce a new service next month called Hara Ads. This is an advertising platform using AI technology to help businesses advertise their product or service on multiple websites including popular social media outlets, such as Facebook and Google.