Con Cung Joint Stock Company (Vietnam)

Being part of the investment ecosystem of Concung Investment Corporation, Con Cung Joint Stock Company is managing and operating a retail chain for pregnant mothers & babies with 3 brands Con Cung, Toycity, and CF (Con Cung Fashion). The diverse product portfolio ranges from baby goods, milk and baby foods, diapers and toiletries, mom and maternity, to Con Cung Fashion and Toycity. The subject imports products from South Korea, Thailand, Japan, China, Taiwan, Hong Kong, Singapore…and distributes products through its chain of physical stores and online channels through its website, Con Cung app and other e-commerce platforms.In 2021, despite impediments caused by the Covid-19 pandemic, the subject generated better net sales of VND 5,764 billion thanks to management's flexible adaptation. Besides capital from bond issuances, the subject succeeded to mobilize capital from Quadria Capital. This enables the subject to expand point of sales and increase market coverage. In the context of the fact that the market for mothers and babies products is potential, the company desires to reach sales of USD 1 billion in 2023 and USD 2 billion in 2025. Total number of stores will be expected to increase to 2,000 in that year. “The company also plans to IPO at the end of 2023”, shared by CEO Luu Anh Tien.Concung Investment Corporation obtains control of the subject via Liam Joint Stock Company. Besides the subject, Liam Joint Stock Company also invests in other subsidiary known as Sakura Group Corporation. Information on the website shows that the company is operating 707 stores across 45 provinces and cities of Vietnam in Apr 2023.