for the quarter ended 30 September 2023
for the quarter ended 30 September 2023
Some of the data here are the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately.
LiveSpo, a company manufacturing and selling spore probiotics products for digestive and respiratory enhancement, achieved a 76% year-on-year growth in revenue for nine months of 2023. This was driven by (i) the increase in the number of product types distributed and effective marketing activities at three largest pharmacy chains, and (ii) friendly promotion of spore probiotics’ benefits through engaging social events. In September 2023, its latest clinical trial results proving the safety and efficiency of LiveSpo NAVAX in curing influenza symptoms in children was published on Nature.com, one of the world’s leading scientific journals.
YOLA’s total enrollments in nine months of 2023 increased 41% year-on-year. This growth was driven by YOLA’s effort to (i) strengthen its customer care services by frequently providing detailed and customized feedback on students’ performance to parents, and (ii) foster students’ engagement through more interactive learning approaches while maintaining its commitment to academic excellence. YOLA is an English language training centers with 11 centers in Ho Chi Minh City.
In the first nine months of 2023, Gene Solutions recorded a 52% year-on-year growth in the number of tests. The company also established important strategic partnerships in Southeast Asian markets (outside of Vietnam). Gene Solutions is a genetic testing company, being the market leader for Non-Invasive Prenatal Testing, and a pioneer in Oncology through its early cancer detection, SPOT-MASTM. As of 30 September 2023, Gene Solutions’ tests can be accessible in 2,500 hospitals and clinics nationwide.
In July 2023, Marou, the chocolate company dedicated to making single-origin chocolate bars made from cacao beans sourced from Vietnam, opened two new stores in Ho Chi Minh City, one Marou Café at Vinhomes Landmark and one Marou Station at Vincom Center Dong Khoi. In August 2023, another Marou Café was opened next to the iconic Hanoi Cathedral, bringing the company’s total retail footprint to 12 locations as of 30 September 2023.
A new Beauty Box store was opened in Lotte Center, Hanoi, bringing the total number of stores of this multi-brand skincare and cosmetics retail chain to 15 locations nationwide. Through its Beauty Box’s network, HSV has been providing a wide range of exclusive beauty products and personalized beauty consultation through a dedicated team of in-store beauty advisors.
In September 2023, Entobel started production at its new factory in Vung Tau one year after the construction kickoff. With the factory’s designed capacity of 10,000 tons of insect meals annually, Entobel is making notable progress to become a leading global supplier of sustainable insect-derived ingredients. In the first nine months, Entobel recorded a 124% year-on-year growth in the volume of insect meals production compared to the same period last year.
