Daesung Aims To Achieve 45% Of Its Revenue From Exports In 2024

The scissors brand DAESUNG is planning its revenue for 2024, with 45% of the revenue expected to come from exports, equivalent to about 100,000 products or nearly 7 billion Vietnamese dong (VND). The domestic market is projected to sell 120,000 household appliance products, generating approximately 8 billion VND in revenue.

On December 21st, Tien Gia Corporation held a conference to summarize the year 2023 and outline the development plan for 2024. According to Mr. Nguyen Tien Phan, the CEO of the company, despite the challenges in the economy and competition from brands from China and Thailand, DAESUNG has successfully penetrated the market and established its position in the industry due to the quality of its products and brand reputation. 

Based on the business results in 2023, DAESUNG exported over 55,000 products, generating export revenue of 3.8 billion VND. The DAESUNG brand has entered demanding markets with strict control systems, such as the United States, the European Union, and South Korea.

In the domestic market, the company achieved revenue of approximately 4.3 billion VND, equivalent to about 50,000 household appliance products sold. Popular products include kitchen shears (accounting for 40% of revenue) and pruning shears (23%). Although scissors for cutting fabric have a lower market share, they still receive positive feedback from customers.

One of the business strategies and solutions to achieve the goals set by the DAESUNG Board of Directors at the conference is to "actively promote and expand retail channels both domestically and internationally, broaden the brand's reach and product quality, and provide customers with the opportunity to experience high-quality products."

Daesung's knife

As a company specializing in the production and supply of premium Japanese steel household scissors, DAESUNG's products span various areas of life, including kitchen shears, gardening shears, sewing scissors, hair-cutting scissors, and more. DAESUNG also accepts contract manufacturing orders from famous brands for distribution to supermarket chains and convenience stores worldwide. The products of the DAESUNG brand are now present everywhere, becoming companions in the homes of consumers, trusted for their quality, convenience, and brand reputation.

In 2024, DAESUNG aims to achieve export revenue of 7 billion VND, accounting for 45% of the total revenue. This is an expected figure as the export revenue reached 3.8 billion VND in 2023. 

Despite the difficulties in the economy in 2023, the company successfully established and leveraged business cooperation relationships. In the coming year, the company will actively expand cooperation with foreign partners through avenues such as seizing opportunities from multilateral cooperation agreements to promote open markets, utilizing international e-commerce platforms, participating in household goods trade fairs and exhibitions, among others. 

Additionally, DAESUNG will maintain and develop business cooperation relationships with long-term partners, actively improve and launch new products. DAESUNG's ambition is to create a product ecosystem of scissors and household tools that satisfies the diverse needs and ensures the trust and quality for consumers.

In the domestic market, DAESUNG will continue to implement promotional campaigns and enhance brand recognition. DAESUNG will leverage the power of e-commerce platforms and social networks while also strengthening traditional sales channels. The company's distribution network spans across provinces and cities nationwide, including Hanoi, Ho Chi Minh City, Hai Duong, Nghe An, and more.

Daesung household scissors

 In 2024, the company will further expand its distribution network and bring DAESUNG brand products to supermarkets and retail stores. DAESUNG also plans to implement free trial programs, providing opportunities for customers to experience and trust the premium household scissors brand, DAESUNG.

In conclusion, Mr. Nguyen Tien Phan, the CEO of the company, affirmed that the 2024 goals are achievable and requested that all departments implement the business plan. The Production Department must review and ensure strict production processes to deliver quality products to customers, as this is the determining factor in affirming the reputation of the DAESUNG brand.

Secondly, the Sales Department needs to research and implement business plans, including market promotion, attractive promotional programs and offers, and trial experiences. 

The goal in 2024 is to spread the DAESUNG brand's name in both the domestic and global markets. DAESUNG will continue to carry out various activities to boost exports, expand the brand's coverage worldwide, and achieve the set objectives soon.