Rita Vo Group Company Limited (Vietnam)

The subject's precursor was an automobile importer and distributor which operated since 1998. In 2002, the subject was established with the target business of supplying high-end building materials and furniture. Currently, RitaVo is doing business in many fields: building materials and furniture supplier; high-end fashion retailer; roasted coffee manufacturer and restaurant; import and distribution of automobiles; hotel, golf and resort in Phu Quoc; commercial & home sport equipment; high-class door, window and accessories manufacturer. In which, RitaVo is best known in the field of high-end building materials and furniture with a system of above 30 showrooms.  In the field of distribution of high-end building materials and furniture, the company has 03 systems including Rita Vo HomePro, Rita Vo muanhanhVATLIEUXAYDUNG, Rita Vo Mega Depot. RitaVo is the exclusive representative of dozens of large corporations, with famous brands such as: Kohler, Simmons, BH Fitness, Florim, Ragno… for famous 5-star projects across the country such as: Melia Hotel, Rex Hotel, New World Hotel, Ho Tram Strip, Ocean Villas Danang, The Shell Phu Quoc... Its products are also retailed through above 30 existing showrooms. According to Mr. Vo Mau Quoc Trien – Chairman of the subject, RitaVo's revenue structure leans towards the retail segment with 65%, the remaining 35% comes from projects. In the coming time, the subject will continue to expand its business activities with the goal of opening 50 showrooms nationwide. In terms of production, in December 2021, RitaVo launched RitaVo LifeWindow - formerly known as the brand and factory manufacturing aluminum doors and plastic doors LifeWindow, which was established in 2008. Along with the purchase of the factory, RitaVo stepped from retail to manufacturing everything related to building materials. Meanwhile, in the fashion field (Rita Vo Fashion), as the exclusive distributor of high-end Italian fashion labels such as Brunello Cucinelli, Tombolini, La Perla, Gaudì... RitaVo is also cherishing a plan to invest in the production of a chain of mid-range garments to serve the domestic and export markets. Accordingly, RitaVo not only distributes but also cooperates with international brands of Italy, France, USA... to cooperate in production and open chain stores in Vietnam. Currently, RitaVo owns a coffee roasting factory (Rita Vo Premium Café) with an area of 1,000 sqm, built in Thu Duc City (former District 2). The technology of this factory is transferred from a famous Italian corporation.For the automobiles sector (Rita Vo Auto), with the cooperation with Hyundai Motors, Ssangyong Motors, Shacman, Piaggio Vespa... RitaVo is one of the large automobile importers in Vietnam including both personal and commercial vehicles. At the end of 2022, RitaVo officially broke ground on a super luxury apartment project, entering the real estate segment (called Rita Vo Hotels & Resorts). The subject is expected to build a hotel in Phu Quoc and a super luxury apartment in District 5, Ho Chi Minh City.In 2023, the stagnant real estate market negatively affected many related industries, including the construction materials industry. In the first 9 months of 2023, many construction materials products tended to decrease production output and consumption compared to the same period last year. For ceramic tiles, production output in this period reached about 292 million m2, down by 6% compared to the same period in 2022. Consumption of ceramic tiles was about 204 million m2, down by 11% over the same period. Sanitary ceramic production reached nearly 9.3 million products, down by 2% over the same period; Consumption of this item after 9 months reached about 8 million products. For cement, the Ministry of Construction recorded production output in the first 9 months of this year reaching about 61.5 million tons, down by 4% compared to the same period in 2022. Cement consumption reached 66 million tons, down by 5% over the same period. According to the rules of previous years, from September to December is the time when civil construction works go into completion. At that time, tiles, sanitary equipment, paint... were items that were consumed strongly and purchasing power increased. In this year, contrary to this rule, construction material businesses are quite empty. These things could negatively affect the business results of the entire industry in general and the subject in particular.