From humble beginnings, Mr. Võ Mậu Quốc Triển has developed Rita Võ to become a leading distributor of high-end building materials and furniture in Vietnam, boasting 23 showrooms and 30 major retail outlets nationwide (including Fashion, Sport, Life Window & Automotive). Despite lacking experience or financial resources, Rita Võ was able to outperform many competitors to gain permission to distribute Kohler products in the Vietnamese market (a 150-year-old brand of high-end bathroom and kitchen sanitary equipment). The chairman's explanation stems from the company's "We win with integrity and quality" philosophy, as well as a plan that demonstrates a thorough understanding of the domestic market.
Mr. Quoc Trien believes that the Vietnamese retail market has enormous potential, particularly in the fields of construction materials and high-end furniture. "Vietnamese people always have the mentality of saving money to buy land and leave land for their children," he explained. Everyone wishes to design and build their own home." As a result, Rita Võ is constantly expanding its showroom network throughout the North, Central, and South, with the goal of eventually opening up to 50 stores. Currently, the retail revenue accounts for 60-65% of Rita Võ's revenue structure.
Rita Võ had great success after deciding to expand into the Hanoi market. Mr. Vo Mau Quoc Trien stated, "The Hanoi market is very difficult, primarily since there has always been ambiguity regarding the origin of goods in this market. To be clear, Thai goods manufactured in Thai are originally Thai, Malaysian goods are Malaysian goods, and Italian goods are Italian goods. Big corporations have established production lines all over the world, so it doesn't matter where the production is; what matters is which corporation's technology and which brand's products."
While many global brands imitate international models when entering Vietnam, Rita Võ takes a unique approach. Mr. Vo Mau Quoc Trien once again demonstrated his market knowledge by knowing how to "prepare a meal" to suit Vietnamese tastes. "We find collections that are suitable for Vietnamese people and guide manufacturers to launch products that are suitable for the Vietnamese market. For example, because Vietnamese people are shorter than those in Europe and America, bringing a large chair to sell is inappropriate."
Notably, Rita Võ used their revenue and market characteristics to persuade leading manufacturers such as Kohler to launch high to mid-range interior bathroom and bathroom sanitary equipment products of exceptional quality at a low price. More affordable than competitors in the same market segment. "A domestic furniture brand, for example, sells a toilet for 8 million." We sell 4,5 million with Kohler quality and Kohler standards for middle class customers group. This is Karat brand, a Thai brand acquired by Kohler that is affordable to the majority of Vietnamese people."
Rita Võ also demonstrated their determination to expand the market and win new customers by purchasing a factory that manufactures aluminium doors and LifeWindow plastic doors. Rita Võ has successfully reduced product costs by about 30% after purchasing and restructuring the factory's operations.
Rita Võ has officially acquired the LifeWindow brand and its manufacturing plant
Rita Võ has a high-end customer file of millions of people as the exclusive partner of the world's leading brands such as Kohler, Miele, Simmons... This is a possible target group for super high-end projects in various areas of this company. Mr. Vo Mau Quoc Trien has been passionate about developing real estate projects that redefine high-end standards for over 20 years. Rita Võ intends to build six real estate projects in the future by preparing land funds in prime areas of Ho Chi Minh City such as Thu Duc, District 5.
Mr. Vo Mau Quoc Trien, speaking about the real estate sector, stated that this was a supporting industry group forming based on Rita Võs potential in the field of furniture and high-end construction materials. The company is expected to break ground on a super luxury apartment project with a total area of 3,600 square meters at Nguyen Van Cu (District 5) by the end of 2022, with 22 floors and 4 basements. HBA Architecture designed the project, which includes over 280 super luxury apartments with the lowest selling price of around 12,000 USD/m2. The furniture in these apartments is all from leading brands, including Kohler sanitary equipment, Miele kitchen appliances, and Florim tiles, all of which set true high-end standards.
In addition to the luxury condominium project, Rita Võ also plans to develop a luxury hotel in Phu Quoc with approximately 300 rooms.
Rita Võ has achieved many impressive successes thanks to Chairman Vo Mau Quoc Trien's awareness of the market, customers, and the correct business strategy. The company paid 700 billion VND in state taxes in 2021, and nearly 450 billion VND in the first six months of 2022. Rita Võ also set aside funds to carry out corporate social responsibility projects such as building the Tam Viet Disabled Children Education Center in Quang Ngai, sponsoring heart surgery for patients in difficult circumstances, and adopting 11 children orphaned by Covid-19 in District 8.
Rita Võ sponsored the construction of the Tâm Việt Center for Special Education in Quảng Ngãi at the end of 2021.
Source: Rita Võ
