On November 25th, Celano’s Facebook fanpage announced a “fresh new step” in the ice cream industry.
The post introduced Hieuthuhai as the new CEO – Chief Experience Officer of Celano, with a mission to elevate the brand’s experience to new heights. This bold move has already garnered over 8,200 interactions, 1,100 comments, and 290 shares, fueled by Hieuthuhai’s popularity as a top singer and rapper in the Vietnamese entertainment industry, especially after the show “Anh Trai Say Hi.”
Celano and Merino are the two powerhouse brands of Kido Foods, the undisputed “king of Vietnam’s ice cream industry.” According to Euromonitor, in 2023, Kido Foods dominated the market with a staggering 46.7% market share. Individually, Merino and Celano held 25.9% and 19.6% market shares, respectively, outperforming the second and third-ranked companies in the industry.
Kido Foods, a subsidiary of Kido Group, was established in 2003 after acquiring Unilever’s Wall’s factory, the largest ice cream producer in Vietnam at the time. The company introduced the Merino and Celano brands in 2004 and 2005, targeting the premium segment with the latter. By 2015, Kido Foods had reached a milestone of VND 1,000 billion in revenue, with its charter capital increasing to VND 400 billion.
Euromonitor’s 2017 data revealed that Vietnam’s retail sales of ice cream and dairy desserts reached an estimated 26,600 tons, a 7% increase from the previous year. Kido Foods maintained its leadership in this market, capturing a 40.2% market share in 2017, followed by Vinamilk and Unilever.
Inside Kido Foods’ state-of-the-art factory.
Fast forward to 2020, and Kido Foods further solidified its dominance with a market share of 43.5%. Its flagship brands, Merino and Celano, also topped the charts, commanding 24.8% and 17.4% market shares, respectively.
Just two months before Hieuthuhai’s appointment as Celano’s CEO, on September 23, Nutifood announced that it had acquired a 51% stake in Kido Foods, gaining control of the company. In 2023, Kido Group sold over 24% of Kido Foods’ shares to a partner for VND 1,069 billion, valuing the company at approximately VND 4,450 billion (USD 200 million). Kido Group still retains a 49% stake in Kido Foods.
Mr. Tran Bao Minh, Vice Chairman of Nutifood, explained the strategic rationale behind the acquisition: “This transaction enables Nutifood to take control of a frozen food distribution system with hundreds of thousands of ice cream freezers across Vietnam, from traditional and modern retail stores to restaurants, hotels, and entertainment venues… This foundation is crucial for Nutifood to swiftly and effectively expand into the frozen food sector.”
With the addition of Kido Foods and its renowned brands, Merino and Celano, Nutifood is poised to diversify its product ecosystem, better catering to the evolving preferences of consumers, particularly the youth and adult segments.
