How is Mr. Nguyen Thanh Phuong's Kangaroo ecosystem doing?

Kangaroo and Mr. Nguyen Thanh Phuong's outstanding performances

On January 6, 2024, Kangaroo Group inaugurated a water purifier factory with a total area of ​​over 100,000m², the largest in Vietnam. Kangaroo's total investment capital for this project is over 6,000 billion VND. This record once again brought the name Kangaroo "hot" back after many years of being "quiet".

Kangaroo emerged as a marketing phenomenon in the 2011 C1 Final with the message “Cạch! Kangaroo, Vietnam's leading water purifier”.

Going back in time 13 years ago, many football fans still cannot forget the haunting advertisement “Cạch! Kangaroo, Vietnam’s leading water purifier” repeated dozens of times before, during and after the Champions League Final between Manchester United and FC Barcelona in the early morning of May 29, 2011.

It was this annoyingly “senseless” advertisement that blew up the reputation of Kangaroo and Mr. Nguyen Thanh Phuong. Before that, although it had been on the market since 2003, not many people knew about this brand. Four years later, Kangaroo was caught up in an incident of “exaggerating” the benefits of its water purifier.

In 2015, in response to unscientific advertisements about Kangaroo Group's KG 110-Omega water purifier being able to prevent blood fat, the Inspectorate of the Department of Culture, Sports and Tourism of Hanoi City stepped in and imposed a fine of 10 million VND, and at the same time required the group to immediately remove the violating content in advertisements about Kangaroo water purifiers.

Downsizing, business decline

Vietnam Australia Electrical Appliances and Refrigeration Corporation (Kangaroo) was established in 2003 with its main product being water purifiers. According to the company's website, Kangaroo has a vision of becoming the leading household appliance group in Southeast Asia. However, the group has been on a downward trend in recent years before suddenly setting a record with the largest water purifier factory in Vietnam, which was inaugurated earlier this year.

From a total asset of nearly 1,700 billion at the end of 2020, Kangaroo's scale decreased to more than 600 billion after a year, which is only about 1/3. Also in 2021, when announcing a joint venture with NORITZ Group (Japan), the group suddenly reduced its charter capital from 700 billion to 440 billion VND.

Kangaroo's total assets will remain almost flat in 2022 before continuing to shrink to around VND500 billion by the end of 2023, the lowest level in many years. Most of it is financed by equity while total liabilities after 2020 are almost negligible.

With its scale shrinking, Kangaroo's business results have also declined. By 2023, the group did not even record revenue and lost 31 billion VND after tax. Most likely, Kangaroo's operations have been transferred to member companies in the ecosystem, including Kangaroo International Joint Venture Corporation.

Kangaroo International was established in 2019 and currently has a charter capital of 750 billion VND. In addition to Kangaroo Group, the company's founding shareholders also include Kangaroo High-Tech Production and Assembly One Member Co., Ltd.; Mr. Nguyen Thanh Phuong and Mr. Le Xuan Hoan. The founding shareholders of Kangaroo International are actually all associated with the name of Mr. Nguyen Thanh Phuong.

The notable point about Kangaroo International is that this enterprise has a huge revenue of up to thousands of billions of VND but very little profit. In 2023, Kangaroo International only made a profit of 8 billion while the revenue was nearly 2,100 billion VND. The numbers all decreased sharply compared to the previous year 2022. Even in 2021, this enterprise was at a loss.

In general, it can be seen that the businesses in Mr. Nguyen Thanh Phuong's Kangaroo ecosystem have not been doing well in recent years. Whether the push from Vietnam's largest water filtration plant can change the situation or not still needs more time to answer.

Source: https://www.congluan.vn/tu-nhung-lan-choi-troi-den-muc-bi-tuyt-coi-he-sinh-thai-kangaroo-cua-ong-nguyen-thanh-phuong-dang-lam-an-ra-sao-post301906.html