TCP Group’s most well-known brand, Red Bull, has heightened its corporate reputation across Asia and, according to CEO Saravoot Yoovidhya, Vietnam is a market of huge potential for the group.
|TCP Group CEO Saravoot Yoovidhya presented a new corporate business plan in Vietnam in June 2022 |
As a multinational company specialised in producing and distributing popular energy drinks such as Red Bull and Warrior, TCP Vietnam, owned by TCP Group, has successfully earned trust and support from consumers. TCP Vietnam was established in 2018 and since then its energy drinks have been favoured by many young people and blue-collar workers.
This trust and support do not solely arise out of TCP Vietnam’s efforts to innovate and provide quality products to Vietnamese consumers. It is also the result of a sound business strategy that has driven the organisation towards long-term, sustainable growth and development from the beginning. Building on this, in 2022 the group announced its new motto, “Energizing a Better World for All”, and its latest corporate business plan centred around fulfilling, growing, and caring. When it comes to fulfilling, TCP Group aims to energise its brand by further advancing its production capacity and product categories. The Vietnamese market is one of the chosen markets that will benefit from the growing strategy in accordance with TCP Group’s investment plan across Thailand and other regional markets announced in April 2022. Meanwhile, the caring strategy focuses on energising the environment through a range of elevated sustainability initiatives.
To realise its near-term goals for 2022-2024, TCP Group has developed plans to ensure its sustainable development and create positive impact on the society and the environment of its operating countries.
|Country director of TCP Vietnam Nguyen Thanh Huan at the TCP Group CEO’s visit event |
|Nguyen Thanh Huan handed over awards at the Light of Vietnam Perseverance event |
After several years of studying the taste profiles of Vietnamese people, TCP Vietnam launched Red Bull Cold Brew Coffee Flavour in March 2022. This is an exclusive product for the Vietnamese market, based on the unique taste of local people and depicting the devotion of TCP Group towards developing the market.
Besides, TCP Group announced a plan to invest up to $340 million in market penetration in Thailand and the global market by 2024 to enhance its manufacturing capacity. TCP Group also plans to launch 10 new products under the Krating Daeng and Red Bull trademarks in segments with top potential.
In addition to contributions to the development of the industry, TCP Group has been dedicated to its economic and environmental goals and viewed them as one of the most crucial pillars for long-term prosperity. The group is striving towards a circular economy model and developing closed loop production, with the prime purpose of limiting negative impacts of production and business activities on the environment, ecosystems, and human health.
TCP Group has continuously invested in elevating its environmental initiatives with a focus on three key challenges: carbon neutralisation, the circular economy, and water sustainability. In terms of carbon neutralisation, the group is setting a goal of carbon neutrality from all working processes in Thailand and abroad by 2050.
Meanwhile, with regard to the circular economy, the company plans to develop packaging to be fully recyclable by 2024. The majority of products distributed in Vietnam are already using fully recyclable materials.
|An MoU was signed between TCP Vietnam, IUCN, and Viet Cycle to undertake a recycling initiative |
TCP Vietnam has also partnered with International Union for Conservation of Nature (IUCN) and Viet Cycle to undertake a programme for collecting and recycling product packaging. This project’s major purpose is to enable TCP Vietnam to perform its extended producer responsibility, which will assist to enhance recycling rates and minimise the amount of packaging that is released into the environment. The programme will boost source separation, increase recycling rates in industrial zones in Nghe An province and Hanoi, improve community capacity, and reduce garbage load on landfills in these locations.
As for water sustainability, TCP Group aims to replenish more water for the environment and communities than the company uses by 2030, increase production efficiency, and reduce water use. The company will collaborate with partners and communities in Thailand, China, and Vietnam, where TCP Group’s factories are located, to safeguard the sustainability of water resources in those locations.
From establishment, paying homage has been considered as one of TCP Group’s primary goals and a vital part of its sustainable development strategy. In Vietnam, the organisation focuses on supporting and empowering people, going the extra mile to meet a wide range of societal needs rather than focusing efforts on any one group. TCP Vietnam’s pursuit of social responsibility demonstrates its position as a top brand in the energy beverage sector with a long-term vision and a unique approach to sustainable growth.
TCP Vietnam, in particular, has collaborated with the Central Committee of the Vietnam Youth Federation to honour talented people with disabilities in Vietnam, providing them the opportunity to meet and raise their voices to the leadership of the Party and the government. TCP Vietnam empowers them with the trust they need to integrate into the community by showcasing their potential.
Moreover, recognising the great importance of younger generations to the future, TCP Vietnam and the Central Committee of the Vietnam Youth Federation launched the Noble Youth award to honour young people who have made outstanding contributions to society. These contributions have occurred in many areas such as economic development, cultural preservation, education, national security, and more, igniting the power of patriotism among Vietnamese youngsters while energising a better society for all.
|Saravoot Yoovidhya and football talents at a recruitment competition set up by Red Bull and HAGL Football Club |
In the football sphere, TCP Vietnam and Red Bull have partnered with Hoang Anh Gia Lai Football Club (HAGL) to promote Vietnamese football talents. In 2022, the brands granted nine young footballers the opportunity to participate in a 4-month professional training course at HAGL through a recruitment tournament, which attracted approximately 11,000 participants across Hanoi, Ho Chi Minh City, Tien Giang, Gia Lai, Binh Thuan, and Can Tho. Two of the young talents from the tournament demonstrated such exceptional skills that they were selected to compete at the U17 National Championship.
|Nguyen Thanh Huan also met with exceptional Vietnamese footballers at the talent recruitment tournament |
In consideration of its achievements and appropriate strategies for the upcoming path, TCP Group and TCP Vietnam have been taking steady steps in driving its organisation towards sustainability while paying homage to the economic, social, and environmental development of its operating countries. This will serve as the groundwork for TCP Group to disseminate sustainable development in the years to come.
| ||TCP Group delivering value |
Vietnam is a growing and important market for TCP Group, the owner of popular Thai energy drinks Red Bull and Warrior. CEO Saravoot Yoovidhya talked to VIR’s Thanh Mai about the group’s vision and key actions to secure a stronger footprint in the market.
| ||TCP Group's CEO announced a new corporate plan |
During his latest visit to Vietnam, the CEO of TCP Group, the owner of popular Thai energy drinks Red Bull and Warrior, announced the new corporate's business plan Energising A Better World For All.
| ||Red Bull and HAGL FC tournament reveal five fresh football talents |
TCP Vietnam collaborated with Hoang Anh Gia Lai Football Club (HAGL FC), to organise the finals of the young talent recruitment tournament.