Throughout its journey, Rita Võ has expanded its operations into key sectors, including: Import and distribution of automobiles; High-end construction materials and furniture business; High-end fashion; Production of freshly ground coffee & coffee restaurant chains; Sport equipment; Manufacture and distribution of aluminum and plastic doors; Real estate investment; Resort hotel sector.
The scale has reached over 1,500 employees across 30 centers nationwide.
In the core segment of construction materials and furniture, the company is a leader in the mid to high-end segment with the current system including Rita Võ Pro, Rita Võ Depot, Rita Võ Depot+, and muanhanhVATLIEUXAYDUNG.
“If in the past Rita Võ had to persuade partners, now I can confidently state that many foreign corporations entering Vietnam all desire to cooperate with Rita Võ“, Mr. Triển said.
Rita Võ is aiming for the "One Stop Shopping" model – one destination, many choices. The company is also focusing on building and developing modern construction materials and furniture showrooms with spacious layouts, displaying typical model rooms for easy visualization, or concentrating displays to provide a diverse and appealing selection for any visitor.
“Rita Võ carries the mission of preparing a standard Vietnamese feast for the people of Vietnam," said Mr. Võ Mậu Quốc Triển, The Chairman of Rita Võ Company, adding: "2022 marks the entry of Vietnam into a new normal post-Covid-19 era, also the 24th anniversary of Rita Võ, and it's the time when I want to reflect on my personal journey and that of the company. The overall strategy of Rita Võ is to continue focusing on what we have done well while expanding into new industries. Particularly, this year, the F2 generation, my eldest son, has just graduated and is currently learning at the company.“.
In terms of business, in the first half of 2022, Rita Võ recorded the total revenue, with the retail sector accounting for the main proportion at 60-65%, and the wholesale sector for projects accounting for 30-35%.
According to Mr. Triển, after Covid-19, the construction materials market is clearly redefining itself: strong businesses will continue to thrive, while weaker ones have or will be phased out.
Starting from this year, Rita Võ plans to develop the export sector, which is an extension of the brand in the domestic market. To prepare for this strategy, at the end of 2021, the company acquired the aluminum and plastic door factory Life Window and renamed it RitaVõ Life Window to expand capacity. Rita Võ has also begun producing its own brand with the main focus on mid to high-end segments.
In general, Rita Võ continues to thrive despite the challenges posed by Covid-19. In the near future, Rita Võ is prepared to step into the real estate sector.
"Of course, to undertake a project, the company must have it in mind beforehand. According to the plan, when revenue from the core sectors of Construction Materials and High-end Furniture stabilizes, we will consider developing real estate projects. Today, Rita Võ has the advantage of having a land bank prepared for 20 years in extremely prime locations. Our principle is very clear, to do real estate in the true sense and only develop what we have, without compromising," the Chairman stated.
According to the plan, by the end of the year, Rita Võ will officially break ground on a high-end apartment project on Nguyen Van Cu Street (District 5, Ho Chi Minh City) with a total investment of over 2,000 billion VND. The project covers an area of 3,600 square meters, including 4 basement levels, 22 above-ground floors, and 280 apartments. The projected selling price is around 12,000 USD/m2 of floor space (equivalent to 283 million VND/m2).
It is known that the project is positioned as luxury apartments, and Mr. Triển affirms that with this step, Rita Võ aims to redefine this segment in Vietnam. Looking at the region, if a luxury project is truly high-end, the price should reach 60,000 USD/m2. In neighboring countries, such as Thailand, prices are in the range of 20,000-30,000 USD/m2. Vietnam's trend is gradually approaching these price levels.
Rita Võ will also develop approximately 6 apartment projects in Ho Chi Minh City, focusing on prime locations such as Thu Duc and District 5. In addition, the company is investing in a hotel project in Bai Truong (Phu Quoc), also positioned in the high-end segment with more than 300 rooms. The total investment is around 50 million USD, with groundbreaking expected at the end of 2022.
"The real estate projects will be managed directly by Rita Võ. It is also important to emphasize that Rita Võ will soon be expanding into the real estate sector, but only as a supportive element for its current strength in construction materials and furniture," added Mr. Triển.
To achieve these results, according to Mr. Triển, there is no secret or universal formula for success because building reputation is a long journey that requires serious investment, with gains and losses, and ups and downs...For Rita Võ's leadership, they take each step carefully, not rushing into investments without seeing returns.
"Living modestly, being straightforward, and fair... these qualities are inherent, and I bring them out to live truthfully with myself and everyone,' emphasized Mr. Triển. When the company performs well, opportunities for collaboration naturally arise, and more and more partners seek cooperation.
With the aforementioned directions, the biggest challenge for the company currently is human resources. At Rita Võ, building a sales team is particularly emphasized and involves significant investment.
"Rita Võ always directs each member to build a disciplined lifestyle and work, while ensuring the best spiritual life for each individual, unleashing creativity, and dedicating themselves to the collective," stated Mr. Triển
Many people say that Rita Võ retains many talented employees, but I have never had the concept of retaining employees. On the contrary, employees want to work in the company's environment. At Rita Võ, there are thousands of employees, and we have a long process of investing in training and building a successor team. Today, the company's top leadership of over 50 people is still very young. They have been trained for over 10 years and have a long-term commitment to Rita Võ," shared Mr. Triển.
Similarly, with the current F2 generation, the son of the Chairman is being arranged by Mr. Triển to experience various roles like everyone else. Education is a basic condition, but becoming a person is important; one must make a difference when it comes to succession.
"There are many factors that help me have many loyal employees. Firstly, their respect for me is crucial, but for them to respect the leader's behavior and personality cannot be lacking", he said.
Conversely, Mr. Triển himself has a lot for employees to learn that they may not get in any other company. In addition, employees must ensure a good quality of life and income. Over the past few decades, no matter how difficult the company has been, not a single day has passed without timely salaries, and the income is above the average societal level. Many employees who have made significant contributions even receive scholarships for their children sponsored by the company.
Thus, the human resources team is currently one of the strengths of Rita Võ. "I am the owner, but I may only visit the company twice a month. The human resources and leaders in each area have been systematically trained and assigned detailed tasks, ensuring smooth and sustainable operation", concluded Mr. Triển.
[Nguồn: CafeF]
