That’s the Thong Nhat bicycle. This is the first bicycle manufactured by Vietnamese people in 1960, with the Thong Nhat brand. Decades ago, Thong Nhat bicycles were considered a fortune when they cost about half a tael of gold. At that time, Thong Nhat bicycles were the dream of many people. It is even the pride of the Vietnamese people when exported to other countries in the world.
On each Thong Nhat bicycle, there are more than 100 parts. Over the decades, the Thong Nhat bicycle has now been changed and has a new look to better suit the development trend of society.
Thong Nhat bicycles have been produced since 1960 and were once sold for up to half a tael of gold. Photo: Pinterest
Currently, Thong Nhat bicycles are manufactured directly at the factory of Thong Nhat Joint Stock Company in Hanoi, with a modern production line and equipment, meeting the management and operation standards of Japan and other advanced countries. In fact, to produce a Thong Nhat bicycle, it will have to go through 3 main stages, including producing the frame; painting and decaling the bike; complete assembly.
“Think of bicycles, Think of Thong Nhat”
Bicycle assembly workshop in the Thong Nhat bicycle factory. Photo: Thong Nhat
This is the familiar and easy-to-remember slogan of Thong Nhat bicycles. Over 60 years of development and companionship, Thong Nhat bicycles have always been trusted by consumers at home and abroad. Behind the success of this bicycle brand is Thong Nhat Joint Stock Company in Hanoi. On June 30, 1960, Thong Nhat Joint Stock Company in Hanoi, formerly the Thong Nhat Bicycle Factory, was established. In September 1933, the Thong Nhat Bicycle Enterprise was transformed into the Thong Nhat Motorbike and Bicycle Company, according to Decision 5563/QD-UB dated September 29, 1993 of the Hanoi People’s Committee.
In November 2005, Thong Nhat Motorbike-Bicycle Company was transformed into a One-Member State-Owned Limited Liability Company, according to Decision No. 162/2005/QD-UB dated October 18, 2005 of the Hanoi People’s Committee.
In January 2011, the Thong Nhat One-Member State-Owned Limited Liability Company was transformed into a One-Member Limited Liability Company, according to Decision No. 287/QD-TN dated January 18, 2011 of the Hanoi People’s Committee. The Company organizes and operates according to the parent-subsidiary company model.
On February 27, 2017, Thong Nhat bicycles were officially corporatized and comprehensively transformed their operating model, from manufacturing to business, according to the international modern standard. According to Decision No. 607/QD-UBND dated February 8, 2017, Thong Nhat One-Member Limited Liability Company was transformed into Thong Nhat Joint Stock Company in Hanoi.
Thong Nhat bicycles are increasingly improved with a variety of models to meet market demand. This is the Thong Nhat Touring Blade sports bike. Photo: Thong Nhat
Thong Nhat Joint Stock Company in Hanoi has undergone a comprehensive innovation process. As of 2021, from 30 initial dealership stores, the company has expanded to 500 stores nationwide and has become the bicycle brand with the largest distribution system in Vietnam. The company has upgraded both the production and technology systems, and at the same time continuously innovated the models and designs of bicycles.
According to Mr. Dinh Vu Minh Viet, General Director of Thong Nhat Joint Stock Company in Hanoi, the new strategy of Thong Nhat after the equitization is to focus on exploiting at retail outlets on a wide scale, changing sales policies, traditions at points of sale, sponsorship, approaching project channels, etc…
As a result, by 2022, Thong Nhat has expanded its distribution system in the Southern market, by cooperating with AEON and Dien May Xanh shopping centers. Also in this year, Thong Nhat Joint Stock Company sold more than 100,000 bicycles, with revenue of up to 142 billion VND and 14 billion VND in after-tax profit, up 42% compared to the same period. This is the highest bicycle sales that the company has achieved, since its equitization.
In 2023, the management board of Thong Nhat Joint Stock Company has set a revenue target of 200 billion VND, with sales of 154,000 bicycles. The company launched 5 new products and carried out promotional programs to spread the famous bicycle brand.
Since the equitization in 2017, in addition to focusing on developing the domestic market, Thong Nhat Joint Stock Company has and is receiving many export orders to countries on continents such as the United States, England, Germany, Malaysia, Singapore, etc. The current main goal of the company is to develop more new bicycle models that are both safe and environmentally friendly for users.
It can be seen that through continuous efforts to adapt to the market and compete with other brands, Thong Nhat bicycles are gradually returning and are favored by many people, both at home and abroad, enhancing the value of “Made in Vietnam” products on the international market.
