Minh Phu Seafood Group and Bach Hoa Xanh have recently inked a cooperation agreement. This partnership promises to bring premium-quality shrimp, meeting stringent export standards, directly to domestic consumers within the Bach Hoa Xanh retail network.

Export-Quality Shrimp Made Accessible

Renowned as the “shrimp king,” Minh Phu Seafood Group is a global leader in shrimp production, exporting to markets such as the US, Japan, and Europe, along with over 50 other countries and territories. Now, the group is pivoting towards serving the local market by teaming up with domestic retailers like Bach Hoa Xanh.

At the heart of this collaboration is the commitment to delivering shrimp of exceptional quality. Minh Phu’s shrimp, sourced from their own farms and affiliated farmers, are cultivated in an antibiotic-free and chemical-free environment. Rigorous quality checks are conducted by the supply team 2-3 times before harvest, ensuring that consumers receive nothing but the best.

Competitive Pricing Without Compromise

Despite meeting export standards, Minh Phu’s shrimp at Bach Hoa Xanh stores come at a competitive price point, making them accessible to a wider audience. In fact, current promotions offer prices equivalent to or even lower than those found in traditional markets, further enhancing their affordability and appeal.

The initial success of this partnership is evident, with Bach Hoa Xanh reporting significant sales figures and revenue from Minh Phu shrimp. After 6 months of testing, Bach Hoa Xanh sold more than 1,300 tons of Minh Phu shrimp, bringing in revenue of more than VND 220 billion (USD 8.8 million).

The Trajectory Ahead

Looking ahead, both parties are optimistic about scaling up operations, with projections indicating a substantial increase in consumption and revenue by 2024. Bach Hoa Xanh expects that by 2024, it will consume 3,000 tons of shrimp with a revenue of VND 500 billion (USD 20 million).