The secret behind the mysterious empire behind the Oishi snack brand

Snack empire from the Philippines

Oishi chips are a snack associated with childhood, but few people know that behind these chip packages is a methodical and clever business strategy from an Asian corporation.

Oishi means "delicious" in Japanese. But the interesting thing is that this brand is not from Japan but is a product of Liwayway Holdings Company Limited - a Philippine company.

Liwayway is owned by Carlos Chan. As of August 7, 2024, he has a net worth of approximately $375 million, making him the 35th richest person on Forbes' 2024 list of the Philippines' 50 Richest People.

Carlos Chan's story doesn't begin in a boardroom or a big factory, but on a small street in Manila.

In 1914, Chan Lib - Carlos Chan's father - immigrated from Fujian province, China to the Philippines. After settling in Manila, Chan Lib opened a shop specializing in corn flour and coffee products called Liwayway - meaning "dawn" in Tagalog (Filipino) - symbolizing hope and new beginnings. Carlos Chan's mother was in charge of selling shrimp fritters.

Growing up in a family business environment, Carlos Chan had an entrepreneurial spirit early on, helping his parents. As the Philippines recovered from World War II, Carlos Chan began expanding the family business by expanding into ready-made, convenient, mass-produced products.

In 1974, he launched the Oishi brand - the first snack product using Japanese technology. Carlos Chan chose this name because it was easy to remember and had a foreign nuance, creating a sense of luxury in the eyes of Asian consumers.

Portrait of Carlos Chan (Photo: Esquiremag)

This bold move later turned the brand into a snack empire in Southeast Asia. The company from the Philippines even successfully conquered the vast but still nascent market of China in the 1980s.

Conquer China and Southeast Asia

While many foreign corporations were hesitant due to cultural and legal barriers in China, Carlos Chan built the first Oishi factory in Shanghai in 1993. At this time, even Coca-Cola and McDonald's were just beginning to approach the billion-people market.

To adapt, he not only introduced technology but also improved the taste according to local tastes, used Chinese staff, printed Chinese packaging and gave the product very local names such as "Shanghaojia". Oishi quickly became a familiar name to Chinese children, becoming a phenomenon that many international brands dream of.

By the late 1990s, Oishi had more than 10 factories in China, with dozens of product lines ranging from potato chips, seafood snacks, to bottled tea. The brand even expanded throughout Asia, including Myanmar, Thailand, Cambodia, Indonesia, and especially Vietnam.

An interesting point is that Carlos Chan still maintains the family's traditional business when the main production material used is corn flour.

In 1997, Oishi officially set foot in Vietnam by building a factory in the Vietnam - Singapore Industrial Park (VSIP), Binh Duong province. At that time, potato chips were still a luxury snack for children and there were not many strong domestic competitors.

However, this brand still does not choose a loud marketing strategy. Instead, they use a strategy of quietly infiltrating grocery stores and school canteens. The brand's products quickly caught the attention of generations of students.

In Vietnam, Oishi is still one of the most popular snack brands, especially in rural and secondary urban areas.

This brand is managed by Liwayway Vietnam Joint Stock Company. In October 2019, the company increased its charter capital from VND 498.3 billion to VND 1,085.1 billion (equivalent to USD 53.5 million).

The shareholders contributing capital include 4 legal entities. Of which, Liwayway Marketing Corporation contributed more than 5 billion VND. Sunarin Laroshe (International) Company contributed about 319.3 billion VND (29.43% of charter capital). Shanghaojia International Company contributed nearly 174 billion VND. Lotus Bay Company (HK) contributed nearly 587 billion VND.

At this time, Mr. Oszen Angsanto Chan (born in 1974) is the General Director and legal representative of the company.

In October 2019, Mr. Oszen Angsanto Chan became Chairman of the Board of Directors. Mr. Michael Chua Hui (born in 1983) became General Director. The company also added other members of the Board of Directors as legal representatives.

In May 2020, the legal representative of the enterprise is Mr. Osen Angsanto Chan.

Information about Liwayway Vietnam Joint Stock Company (Photo: DKKD).

Today, the Oishi brand is present in more than 10 countries, with hundreds of product lines and billions of dollars in revenue each year. However, the Chan family still maintains a low profile. Mr. Carlos Chan once told the media that "we don't want to attract too much attention. Let the product speak for itself."

Source: https://dantri.com.vn/kinh-doanh/bi-mat-ve-de-che-bi-an-dung-sau-thuong-hieu-bim-bim-oishi-20250524224350198.htm