[Shark Tank Season 6 Episode 2] Intense Deal War, Shark Hung Anh Negotiated Second Million Dollar Deal Successfully
08 Dec, 2023 (GMT+7)Export To PDF
Shark Tank season 6 episode 2 welcomed the appearance of three Startups: bread retail and franchising, food production, retail and children's products distribution. The events of this episode were dramatic with a tense deal competition between three "sharks". The winning result belonged to Shark Hung Anh with a commitment to invest 24 billion VND for 15% of Tri Viet Phat company's shares.
Revenue of 157 billion per year, Tri Viet Phat calls for 22 billion for 5% share
The opening of this episode was the capital call by Ms. Nguyen Thi Van Anh - founder and CEO of Tri Viet Phat Company. Graduating from Bach Khoa University with a major in Chemistry and Food, more than 11 years of experience as a product technology engineer for many multinational corporations, Ms. Van Anh and her husband founded Tri Viet Phat company in 2012, aiming to produce spices from Vietnamese ingredients and supply to B2B customers in the domestic market. Plus, after nearly ten years of formation and development, Tri Viet Phat's products have been present in the US and Japanese markets. In addition, Tri Viet Phat Company is also owning a 6,000 square meter FSSC 22000 factory and 3 major brands at the moment.
Up to now, Tri Viet Phat has two retail brands such as Gungon - specializing in spices, Wil - specializing in convenient drinks, and providing spices to numerous big companies such as CP, Vissan, Jollibee, KFC , Five Star, Halong Canfoco, SG Milk,…
Sharing about her financial situation, Ms. Van Anh said that despite the difficult epidemic situation, her company still grows 40-46% each year. In 2022, Tri Viet Phat's revenue reached 157 billion, with a net profit of 10%. In 2023, Tri Viet Phat targets to reach 187 billion revenue. Coming to Shark Tank Vietnam, Ms. Van Anh shared her ambition to bring Tri Viet Phat Company towards a trillion-dollar global company in the next four years. She shared: “A global company is the first company to have an IPO. Next, our products can be sold in many places and even better, have a factory in another country." She also shared that Tri Viet Phat is a company without competitors because it is not easy to achieve FSSC 22000 standards.
The Sharks were looking through and trying out Tri Viet Phat company's products
In the intense deal competition between three Sharks, Shark Hung Anh continued to get another million-dollar deal
Based on the Startup's sharing, it is assessed that this Startup has completed products, clear financial picture and stable profit, Shark Hung Anh is the first "shark" to close the deal with an offer of 22 billion VND for 20% shares. Then, the next Shark is Shark Hung offering to invest 22 billion VND in exchange for 15.1% stake. Shark Binh is the next investor to join this deal with a proposal of 22 billion VND in exchange for 15% of the shares with the condition that the Startup must pay dividends of at least 15% of the investment.
However, Ms. Van Anh confidently affirmed that this year Tri Viet Phat will achieve revenue of 187 billion VND, next year this number will reach 260 billion VND. That is the reason why she proposed an investment of 22 billion VND for 11% of shares. Faced with this confident assertion, Shark Hung Anh expressed his interest in Tri Viet Phat by proposing an investment of 22 billion VND for 15% of shares, equal to Shark Binh. However, after Shark Binh decreased his percentage of stake to 14%, Shark Hung Anh announced a solid deal for 24 billion VND in exchange for 15% of the shares. Finally, before the tough "chasing" of the Sharks, Ms. Van Anh, along with her husband's discussion, agreed with the one million USD deal with Shark Hung Anh. Therefore, Tri Viet Phat is the next female Startup to successfully call for one million USD capital on Shark Tank Vietnam season 6, this is also the second million USD deal of Shark Hung Anh on this Shark Tank Vietnam season 6 journey.
Shark Hung Anh successfully got the deal with Ms. Van Anh - CEO of Tri Viet Phat company
Ambition to build a Vietnamese bread brand in Japanese market and a children's balance bike Startup
In addition to the extremely tough "chasing" of the Sharks for Tri Viet Phat Company, Shark Tank Vietnam season 6, episode 2 also received participation from the brands "Banh mi Xin Chao" and Kiz Company.
“Banh mi Xin Chao” was co-founded by Bui Thanh Tam and Bui Thanh Duy. This is a franchise chain specializing in serving bread and Vietnamese dishes in Japan. “Banh mi Xin Chao” came to Shark Tank Vietnam season 6 with the goal of calling for 500,000 USD for 9% of shares. Eventually, "Banh mi Xin Chao" decided to collaborate with Shark Binh with an investment of 500,000 USD for 15% of shares and with the condition that within 2 years, the Startup must develop 50 stores, including 1 main store and a food truck.
Kiz Company came to Shark Tank Vietnam season 6 to call for 8 billion VND for 30% of shares. Founded by Mr. Tran Quang Huy in 2016, to now, Kiz has only received a total revenue of 40 billion VND. When asked by Shark Binh about the market potential, Tran Quang Huy estimated that with the number of Vietnamese children being about 6 million, he could sell about 2%, the number of bikes sold would reach about 120 thousand bikes, minus about 100 thousand bikes, the average value of each bike is about 1 million, the revenue is around 1 billion VND. However, Shark Hung Anh evaluated this number as "illusory". So, at the end of the deal, Kiz Company did not receive any investment from the Sharks.
The Sharks were listening to the presentation of Kiz company
Follow Shark Le Hung Anh at: https://www.facebook.com/SharkLeHungAnh