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Quadria Capital injects $90 mln into Vietnam’s baby-care retailer Con Cung

Bich Phuong Tuesday | 01/18/2022 14:25

Photo: Con Cung

Quadria Capital, Asia’s leading healthcare investment firm announced a $90 million investment in Con Cung, Vietnam’s largest and fastest-growing mom and baby retail network, the healthcare investment firm stated on Tuesday.

The retail chain plans to use the fresh funds to expand its local footprint and develop a super app for millions of Vietnamese mothers.

Con Cung has ambition to launch up to 2,000 local stores by 2025, expand its product portfolio, as well as to develop an all-in-one super app that provides personalised products and services for millions Vietnamese mothers.    

Founded in 2011, Con Cung is a household name in the mother and baby products industry with over 600 fully-owned stores across 45 provinces and cities in Vietnam.

The company retails over 2,000 SKUs of mom and baby-care products such as milk powder, diapers, bottled nutrition and vitamins, equipment, and baby fashion products.

It holds exclusive distribution rights for a number of international brands, including from Japan, the US, Australia and South Korea, and actively collaborates with leading factories across Asia to develop and manufacture private-label childcare products that are safe, high-quality and affordable.

Ecommerce is a potential market in Vietnam as digitalisation is fast-changing consumer preferences. Many Vietnamese mothers are shifting part of their spending towards e-commerce, said Minh Nguyen, Chairman and Co-founder of Con Cung.

Con Cung aims to be the one-stop destination for mothers to fulfil their maternity and baby-care needs in a convenient and safe environment. It plans to expand retail channels, both online and offline, and create a holistic ecosystem to support mothers and families.

Over the last four years, Con Cung has been growing exponentially at a compound annual growth rate (CAGR) of 70 percent. It launched its first app in 2019 in response to an upsurge in mobile-based purchases and succeeded in doubling its store footprint between 2019 and 2021. 

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