KIDO enters the billion-dollar spice market.

KIDO Group (stock code: KDC) launched fish sauce and seasoning products under the Tuong An and Tuong An Unicook brands, officially available at Tuong An's distribution systems from December 25th. The four product lines include: Tuong An Anchovy Fish Sauce 40% Protein - Rich Flavor; Tuong An Anchovy Fish Sauce 32% Protein - Harmonious Flavor; Tuong An Unicook Seasoning Powder with Pork Ribs, Bone and Meat Broth; and Tuong An Unicook Seasoning Powder with Shiitake Mushrooms and 3 Types of Vegetables. Mr. Tran Le Nguyen, Vice Chairman of the Board of Directors - General Director of KIDO Group and Chairman of the Board of Directors of Tuong An Vegetable Oil Joint Stock Company, shared that the spice sector is a key strategy for the group in expanding its essential food product line. To spread the image and bring new products closer to consumers, the group leverages the Tuong An brand advantage to penetrate each region/market. KIDO's logistics and distribution system includes a network of 450,000 readily available points of sale for essential goods; modern shopping channels, e-commerce platforms, including E2E – a leading shopping and entertainment platform promoting trade on TikTok. Simultaneously, with the Lunar New Year approaching, KIDO will develop bundled essential product sets including cooking oil, seasoning, fish sauce, margarine, etc., to provide points of sale and consumers with more choices and a more diverse product experience. In Vietnam, most dishes, from traditional to modern, cannot be prepared without accompanying spices. In Vietnamese cooking habits, spices such as cooking oil, fish sauce, soy sauce, and seasoning have become indispensable parts of preparing meals. According to a market research report by Euromonitor International, the Vietnamese spice market size in 2022 reached VND 35,707 trillion (~USD 1.5 billion). Fish sauce accounted for the largest share, totaling VND 15,214 trillion. The report also projected the spice industry to reach VND 40,812 trillion by 2026. This year, KIDO Group completed the acquisition of Tho Phat International Joint Stock Company – the owner of the leading Tho Phat steamed bun brand. KIDO leaders stated that Tho Phat is a crucial component in the group's strategy to expand its bakery business. KIDO currently has three main product lines: cooking oil, ice cream, and baked goods. The group is actively diversifying its products, aiming to "fill every Vietnamese kitchen." Entering the spice industry is a step towards realizing this goal. According to My Ha - Investor. Source: https://www.kdc.vn/tin-uc/tin-uc-su-kien/kido-buoc-chan-vao-thi-truong-gia-vi-ty-usd