The Millionaire’s First Love: A Tale of Childhood Trials to Triumph in International Markets

During a recent holiday break, a workshop on durians was held, and the Krong Pak District People’s Committee (Dak Lak) organized an auction of three durian fruits. A female entrepreneur successfully bid 1.4 billion VND for these unique fruits.

The durians were of the Ri6 variety, and Ms. Ngo Tuong Vi, Chairman of the Chanh Thu Group, and her friends were the highest bidders for the “Ri6 Queen.” Ms. Vi stated that the companies did not bid for the purpose of owning the gold-plated durian but to express gratitude to Mr. Sau Ri, as it was his life’s work.

She intends to present this durian to the family of Mr. Sau Ri (who has since passed away). This event attracted a lot of attention and also received mixed reactions. In response to the media, Ms. Vi clarified that although Mr. Sau Ri was from Binh Hoa, Long Ho District, Vinh Long Province, the region that produced and sold the Ri6 variety was Cho Lach District in Ben Tre Province, which is also her hometown.

Ms. Vi (born in 1986) is a young entrepreneur, and Chanh Thu is named after her parents. Hailing from Ben Tre Province, famous for its Western fruits such as durian, mangosteen, and rambutan, her parents, Mr. Chanh and Ms. Thu, are known for being pioneering farmers who introduced longan and rambutan from Cho Lach to the Chinese market.

However, Ms. Vi’s childhood experiences, including witnessing the financial ruin of farmers (including her family) due to their dependence on the Chinese market, motivated her to standardize agricultural products and aim for exports through Chanh Thu Fruit Import-Export Company Limited.

Image source: Chanh Thu Website

According to the company’s website, Chanh Thu was previously known as Chanh Thu Limited Company (in Ben Tre Province) and has over 25 years of experience in exporting fresh and frozen fruits. The Chanh Thu Group currently operates a 120,000m2 packaging factory, supplying over 200,000 tons of various fruits annually to markets such as the US, Japan, Australia, Europe, China, and South Korea…

The company has obtained food safety certification according to the FSSC 22000 standard and the “packer code” issued by the Vietnamese government, authorizing the export of fresh fruit to the US, China, Australia, and New Zealand.

Chanh Thu was also the first company to export mangoes to the US in 2019 and lychees to Japan in 2020. According to Ms. Vi, the company has achieved remarkable revenue, with one year surpassing 600 billion VND.

“Chanh Thu’s goal, regardless of the volume of production or exports, revenue, or other metrics, is to build a strong brand,” said Ms. Thu.

In fact, for many years, when most Vietnamese people considered the Chinese market to be less demanding, Chanh Thu had already set its standards. The company recognized the need to view the Chinese market as demanding and focused on product quality.

They achieved this by developing models according to GlobalGAP and VietGAP standards for rambutan and then for other fruits. Gradually, gaining the trust of the Chinese market became a stepping stone for Chanh Thu to expand into other markets.

Post-pandemic, Chanh Thu made a strategic shift from fresh fruit products to processed fruit products, particularly frozen durian, and achieved significant success. Looking ahead, Ms. Vi dreams of the day when their fruit brand will be featured in international retail chains such as Walmart and Costco Wholesale.