Fami was merely a single brand in a wide range of Vinasoy’s offerings in the beginning. Like other dairy companies, the 1997-established Vinasoy provided a variety of dairy goods from pasteurized milk, to yogurt, to ice cream. When the company was on the brink of bankruptcy in the early 2000s it shifted its business strategy to focusing on increasing the value of soybeans becoming the first and only company that specialized in soya milk products. Today, Vinasoy not only takes the lead in soymilk production in Vietnam with 80% market share, but also has been listed amongst the five largest soymilk manufacturers in the world.
The Christmas of 2001 marked something of a turning point for Fami when it was selected by the Ministry of Agriculture as the exclusive soymilk provider for the Ministry’s “Milk For Vietnamese Schools Program” to provide milk to young students in remote and disadvantaged areas. As the national market leader, Fami has dominated in rural areas with about 90% share – and the demand there is still vigorous. Soy Milk grows by 37% in rural Vietnam, the fastest growth in all Asia.
Fami´s shopper base increased 16% in 2015, thanks to recruiting new buyers mainly in rural Vietnam. Fami reaches the most remote areas thanks to their massive network of 600 distributors throughout 63 provinces. Fami’s success was affirmed when it won several prestigious prizes, including “Top 10 Vietnamese Famous Trademark Winner” in 2013 and 2015, and “Top 20 Asian Famous Trademark” awards in 2013. Vinasoy’ s long-term development strategy is to meet the need of domestic market first and then to export to China where the potential is huge.