(Editing data Thien Long's revenue and profit after tax based on the Thien Long's consolidated report)
The stationery market has been formed and developed for a long time in Vietnam. This is considered a place that provides necessary products for all office activities, from basic products like pens and paper to newly added products like paper clips, file bags, documents, crayons, tape, staples, sticky notes,...
According to recent research, the size of the Vietnamese stationery market is estimated to reach USD 195.35 million by 2022. In the period from 2023 to 2029, the scale of the Vietnamese stationery and supply market is expected to grow at a CAGR of 8.37%, reaching a value of USD 316.41 million by 2029. This growth is supported by an increase in the number of small and medium enterprises (SMEs) along with the infrastructure development in Vietnam. It has created many prospects for office businesses and led to significant growth in the Vietnamese stationery supply market.
The development of this market is associated with people's needs for life, study, and work. Therefore, it is not wrong to say that the market is in sync with the development of society. Currently, businesses that produce and distribute office supplies range from large to small, and in Ho Chi Minh alone more than 2,780 businesses are operating in this field.
In terms of brands producing stationery products, there are many prominent names in the Vietnamese market such as Thien Long, Hong Ha, Hai Tien, Campus, Deli,... These are long-standing brands with longevity and customers can be completely assured of the quality of products from these brands.
As one of the No. 1 stationery companies in Southeast Asia and the leading stationery company in Asia in manufacturing and trading stationery products. Thien Long is one of the leading brands in the stationery industry in Vietnam with more than 36 years of experience in manufacturing and distributing office products and many other items.
Besides the famous product lines of ballpoint pens, Thien Long also focuses on 4 main product lines: writing pens, school supplies, office supplies, and arts. In addition, the brand also develops its own brand of office supplies called FlexOffice to serve domestic and foreign markets.
In addition, the Thien Long brand not only accounts for the majority of the domestic market share but is also gradually expanding export markets, gradually affirming the position of the Vietnamese brand in the international arena.
Thien Long's revenue recorded a continuously changing trend in the period 2020 - 2022. Specifically, in 2020, the brand's revenue peaked at nearly VND 2700 billion. This number decreased slightly by VND 16 billion in 2021 and then grew by 32% in 2022, reaching nearly VND 3500 billion. Regarding profit after tax, in 2020, profit after tax achieved nearly 240 billion VND. Its profit went up by 1.2% in 2021. After that, it recorded a sharp increase in profit continuously by 45% in 2022, standing at more than nearly VND 400 billion.
Hong Ha stationery has a history of 60 years of development. This is considered one of the first office furniture brands in Vietnam. Products from Hong Ha are extremely diverse and able to fully meet the needs of both work and study. Some of Hong Ha's most widely used typical products are A-shaped ballpoint pens and grid notebooks for elementary school students.
Currently, the Hong Ha brand continues to invest in product development in both quality and design. The brand has also signed as a partner with the Mai Vang engraving business to provide new services and products for customers.
Hong Ha had a net revenue increase continuously for three years. In 2020, the brand's revenue recorded more than VND 610 billion. Its revenue climbed by 20.4% in 2021 and another 29% in 2022, peaking at nearly VND 960 billion. Regarding profit after tax, in 2020, profit reached more than VDN 45 billion. This figure went up by 85% in 2021 then fell slightly by 2% in 2022, standing at a profit of more than VND 80 billion.
In 1988, Vinh Tien entered the market with a new product of student notebooks, called "Little Deer Notebook". Since then the Little Deer symbol was born. This is a pioneer brand in expressing modern practice lines with an automatic printing system and launching the brand "VIBOOK". Vinh Tien always commits to using the heart of production according to the YTSC standard system.
After more than 36 years of establishment and development, Vinh Tien has built for itself a team of enthusiastic staff, thoroughly equipped with knowledge and expertise, ready to confidently develop in a new environment and firmly enter the path of integration.
In 2022, the brand's revenue achieved nearly VND 240 billion. Its revenue rose by 11% compared to 2021 and increased by more than 105% compared to 2020. Vinh Tien's profit after tax dropped sharply in 2022. Particularly, the brand's profit in 2020 and 2021 fluctuated around VND 750 million VND. This number has plummeted 150% to negative profit in 2022, recording a loss of nearly VND 400 million.
Campus is a stationery product line belonging to Kokuyo company from Japan. Although the products are manufactured in a factory located in Vietnam, both the design and production standards comply with the Land of the Rising Sun's quality principles.
In addition to notebook products, Campus's other school supplies and stationery products also have a variety and quality that is completely superior to many other similar products on the market.
The brand's revenue and profit after tax recorded continuous changes over three years. In 2020, the brand's revenue achieved nearly VND 400 billion. Its revenue went up 10% in 2021 and fell 7.5% in 2022, reaching more than VND 400 billion. Regarding profit after tax, the brand's 2020 profit peaked at more than VND 20 billion. This number declined by more than VND 15 billion in 2021 and dropped sharply by 52% in 2022, recording a profit after tax of nearly VND 18 billion.
Deli, a stationery brand, was founded in 1988 in China. Since its establishment, the brand has grown strongly and become one of the leading stationery brands in China and around the world. After more than 30 years of development, Deli has expanded its market to be present in many different countries and territories: Asia, Europe, America, Africa, and Oceania.
Besides the popular items that all stationery companies provide, Deli also offers countless other essential and convenient products and tools for office work: spring binding machines, shredders, plastic laminators,...
Deli's revenue and profit after tax have recorded a rapid growth trend in the last two years. Specifically, in 2020, the brand's revenue only reached 6 billion VND. Brand revenue increased 50 times in 2021 and rocketed nearly 125 times in 2022, peaking at nearly VND 740 billion. In terms of profit after tax, in 2020 and 2021 the brand had negative profits. The loss trend tends to drop gradually from negative nearly VND 37 billion to negative VND 22 billion. By 2022, the brand reached a rapid growth trend, pulling profits to a positive level of nearly VND 60 billion.
Plus Vietnam Company is a member of Plus Group, established in 1995. It is the main manufacturing company, under the management of Plus Stationery of Plus Japan Group, exporting goods from Japan to around the world.
PLUS stationery includes a variety of products such as erasable tapes, erasers, staples, hard paper box files,... PLUS products are highly durable and have been tested. Quality testing meets the strict requirements of the Japanese market and many countries around the world.
With the business philosophy "new value - new satisfaction”. The brand always tries to create new values and bring customers feelings of satisfaction that they have never experienced with their products.
In 2022, Plus brand revenue stood at nearly 2000 billion VND, an increase of 55% compared to 2021 and a growth of 27.2% compared to 2020. The brand's profit after tax also records a continuously changing trend. Particularly, in 2020, the brand's after-tax profit reached negative nearly VND 2 billion. Its profit went down sharply by 200%, to negative VND 70 billion in 2021. Then, it rose to a positive profit in 2022, recording VND 72 billion.
In 1989, Hai Tien marked the birth of its first paper production facility. From here, Hai Tien began the journey of accompanying Vietnamese students on the path of knowledge.
Hai Tien's products are mainly notebooks and school supplies. In addition to notebooks, stationery, printing products,... The brand also produces plastic packaging and outsourcing printing. After more than 30 years of formation and development, Hai Tien Notebooks are now available in all 3 regions of the country, suitable for all ages, interests, and passions. The brand also affirmed its solid position in the market.
In the period from 2020 to 2022, Hai Tien's revenue recorded slight fluctuations. In 2022, the brand revenue stood at nearly VND 640 billion, an increase of 40% compared to 2021 and a growth of 29.4% compared to 2020. Regarding profit after tax, Hai Tien's revenue profit did not change much over the years, ranging from 1 billion to 1.5 billion per year.
Tan Thuan Tien
Tan Thuan Tien is a reputable brand in the student notebook market. Having gone through many difficult times in the paper industry during the period 2003-2010, the brand still stands firmly in the market with a stable capacity of 50 million notebooks per year.
Tan Thuan Tien's revenue in the period from 2020 to 2022 recorded continuous changes. In 2022, revenue peaked at more than VND 280 billion, a climb of 52.3% compared to 2021 and an increase of 22% compared to 2020. Tan Thuan Tien's profit reached VND 1.4 billion in 2020. Its profit dropped slightly by 3% in 2021, then recorded more than VND 1.4 billion in profit in 2022.
The large demand for stationery supplies opens up a potential for the development of manufacturing brands. However, the development of office supplies depends on consumer demand. Because over time, customers' aesthetic needs change. Therefore, to compete in this fierce market, products must have a new "appearance" while still ensuring functionality. This is also the reason why with just one pen, they are designed with countless different designs.
Source: Vietdata’s 2022 Vietnamese Stationery Market Report
* (The revenue and profit after tax figures for Thiên Long have been updated again based on the company's consolidated financial report. We sincerely apologize for any inaccuracies in Thiên Long's data in this article published on Sep 22nd, 2023)