Tri Viet Phat made a remarkable appearance on Shark Tank Vietnam season 6 as CEO Ms. Nguyen Thi Van Anh chose not to disclose the company’s latest profit yet still secured investment offers from three veteran Sharks. After careful consideration, the startup successfully struck a deal of VND 24 billion for a 15% stake with Shark Hung Anh.
Nearly a year after the show, Tri Viet Phat has demonstrated solid growth, proving its resilience and vision in the market.
Reaping Success Post-Shark Tank
Founded by Ms. Nguyen Thi Van Anh, who has over 20 years of experience in food research and business management, Tri Viet Phat has come a long way from its initial capital of VND 87 million a decade ago. In 2022, the company was valued at an estimated VND 300 billion. With rapid growth and a goal to become an international standard enterprise, Tri Viet Phat had already attracted interest from American and European companies for potential M&A deals even before appearing on Shark Tank.
However, CEO Van Anh decided to participate in the show to gain more experience and explore potential investors. The Sharks, seasoned investors, highly praised Tri Viet Phat for its healthy financial picture and sustainable model of “Standard before Speed.”
Tri Viet Phat’s CEO, Ms. Nguyen Thi Van Anh, presenting on Shark Tank Vietnam
Leaving the show with a VND 24 billion deal for a 15% stake to Shark Hung Anh, Tri Viet Phat continued to receive investment, acquisition, and merger offers from global financial groups and food production and distribution companies from Japan and Europe. Instead of rushing into these opportunities, CEO Van Anh chose to focus on strengthening the company’s internal capabilities. This decision led to the development of their own brands, expansion of their internationally certified factory, and provision of products and services to numerous large corporations.
Currently, Tri Viet Phat has established partnerships with prominent groups and global corporations such as CP, Vissan, Jollibee, KFC, Mondelez Kinh Do, Pizza 4Ps, and CP Five Star. The company also owns a modern factory that meets international standards and holds certifications such as FSSC 22000, ISO 22000, FDA, and HALAL.
Tri Viet Phat’s modern factory meeting international standards
On Shark Tank Vietnam season 6, Tri Viet Phat was recognized for its strength in the B2B sector, but its retail (B2C) segment was less prominent compared to its potential. Taking this feedback to heart, the company made significant changes, especially by expanding its market share with the instant tea brand Wil, alongside its two well-known spice brands, GUNGON and GUYUMI.
Wil instant tea, known as “Trà Nhà Tự Pha, Tươi Ngon Chuẩn Quán” (“Home-brewed Tea, Fresh and Tasty as in Cafes”), marked a turning point in Tri Viet Phat’s retail segment post-Shark Tank due to its well-defined business and product development strategy. From quality and flavor to packaging, pricing, distribution system selection, and communication approach, everything was meticulously researched and executed by the company.
Today, Wil instant tea is available in major supermarkets and convenience stores like LOTTE, Coop, Emart, Bach Hoa Xanh, Family Mart, and Ministop, recording impressive daily sales and even selling out on many shelves. Building on this success, Tri Viet Phat plans to launch more high-quality products in the future.
“Standard before Speed” with the Six Sustainability Pillars – The Secret to Tri Viet Phat’s Success
Tri Viet Phat’s success stems from various factors, but the core of it lies in the Six Sustainability Pillars model and the “Standard before Speed” principle that CEO Van Anh steadfastly adheres to since the company’s inception.
The first pillar is Sustainable Human Resources. Understanding that a strong team is the foundation of excellent products and services, Tri Viet Phat invests in building a professional workforce for every stage, from research and production to sales.
Tri Viet Phat’s professional and dedicated team
The second pillar is Sustainable Production. The company maintains strict quality control from raw materials to finished products, and its production processes meet international standards with ISO 22000 and FSSC 22000 certifications.
The third pillar is Sustainable Products. With a strong R&D capability, Tri Viet Phat develops high-quality products that cater to consumer tastes and provides effective business solutions for its partners.
The fourth element is Sustainable Partners. Tri Viet Phat upholds the “win-win” mindset, believing that long-term partnerships are built on mutual benefit. The company constantly innovates and evolves with the spirit of “Input Partner – Output Solution.”
The fifth pillar is Sustainable Growth. Tri Viet Phat ensures consistent double-digit revenue growth annually, thanks to its modern factory and well-managed supply of raw materials in terms of both quantity and quality.
Lastly, the sixth pillar is Sustainable Environment and Society. The company’s factory operations fully comply with environmental protection regulations, embracing a green development goal. In parallel, Tri Viet Phat actively contributes to community development and social welfare.
CEO Van Anh reveals that despite increasing interest from investors, Tri Viet Phat remains focused on optimizing its business operations through the Six Sustainability Pillars model. “Long-term partnerships require a harmony of vision, mission, and business perspectives, and thus, they must be carefully considered,” she shares.
Tri Viet Phat’s products on the shelves, ready to be discovered by consumers
Additionally, CEO Van Anh attributes part of Tri Viet Phat’s achievements to Shark Tank, as the program broadened her perspective and provided valuable lessons in business.
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