The Old Boat was 'escorted' to sea by all 3 sharks

Founder and Director of Thuyen Xua Foods Company Limited (Thuyen Xua Foods) Doan Phuong Ly made a strong impression at Shark Tank Vietnam season 6 with her ability to present fluently and calmly answer all difficult questions from the investment council.

Thuyen Xua Foods "hunts" sharks

Shark Tue Lam decided not to invest.

It was extremely difficult to launch a product shortly before the Covid-19 pandemic struck, the operator of Thuyen Xua Foods - a food brand shared why the company was founded in 2017, but it was not until 2021 that it started making a profit.

Shark Minh believes that suffering losses is something no one wants, but it is also an opportunity for new startups to find their “dragon vein”. The Chairman of Beta Group suggested that Thuyen Xua should focus on effective products to improve profit margins. In addition, Shark Minh and Shark Louis Nguyen also praised the “international” packaging of this brand.

It is known that Thuyen Xua is currently present in 60 provinces across the country, with over 35 large and small supermarket chains and about 5,000 points of sale. Sales in 2021 - also the company's first profitable year - reached 25 billion VND, in 2022 it was 35 billion VND and expected in 2023 it was 50 billion VND. If the capital call is successful, Thuyen Xua's director expects sales in 2028 to reach 250 billion VND. According to Phuong Ly, the product lines for children are all manufactured in Japan.

According to Phuong Ly, the company will not make a profit until 2021.

Shark Louis invited shark Hung Anh to join this deal.

Tense and dramatic

Impressed with the story of the talented female founder's career, however, because it was not her forte or "taste", Shark Binh and Shark Tue Lam decided not to invest.

As the first shark to make a deal, Shark Hung Anh "invested in the founder's passion" so he offered 10 billion VND for 33%.

With Shark Louis's strength, he did not hesitate to offer a deal of 10 billion VND for 15%. With the view that "cooperation will be stronger", Shark Louis invited Shark Hung Anh to join this deal.

When asked by Shark Binh about the basis for valuing a business worth more than a hundred billion VND while its net profit is only 5%, Phuong Ly said: "If we choose the valuation for 2023, it could be twice the revenue. But in 2024, our revenue will be 75 - 80 billion VND..." Shark Minh Beta expressed: "We have lost a lot, suffered a lot, and finally found a way. The storm seems to have passed, hopefully the future will be better." Shark Beta Group also made a similar deal to Shark Louis, 10 billion VND for 15% of shares.

All 3 sharks agreed to jointly invest 10 billion VND for 15% of shares with the hope of pushing this ship further.

Soon after, Shark Louis invited Shark Minh Beta to join him and Shark Hung Anh to support the startup. All three sharks agreed to jointly invest 10 billion VND for 15% of the shares with the hope of pushing this "ship" further.

Coming from a remote area, having to travel 120 km back and forth every day to learn English to apply for a scholarship to study abroad, Huynh Tan Canh created Riolish with the desire to help students pursue their dream of better English.

Being impressed by Tan Canh's 8 years of dedication and his boldness to appear on Shark Tank is very encouraging, but the sharks think that the founder is more suitable for the role of COO than the executive position. Shark Hung Anh offered to invest 100 thousand USD in exchange for 50% of the shares.

However, Tan Canh said: "To exchange 50% for a company for 100 thousand USD, that is not my wish when coming here". Therefore, he refused Shark Hung Anh's investment offer.

Source link: https://thanhnien.vn/hy-huu-tai-shark-tank-thuyen-xua-duoc-ca-3-shark-ho-tong-vuon-khoi-185231114103336696.htm