After the self-boiling hotpot ‘made waves’, Masan will sell self-cooking rice

On April 25, Masan Group Joint Stock Company (HOSE: MSN) and two member companies, Masan Consumer (HNX-UPCoM: MCH) and Masan MEATLife (HNX-UPCoM: MML), co-organized the General Assembly. Annual shareholders in 2024 in Ho Chi Minh City.

Masan Group’s shareholders’ meeting took place in Ho Chi Minh City. (Photo: Dai Viet)

At the congress, Ms. Nguyen Truong Kim Phuong, Senior Marketing Director of Masan Consumer Company, shared about the goal for the Omachi brand to become a billion-dollar brand.

According to Ms. Phuong, in the past, when thinking about instant noodles, people often thought it was a cheap dish, only about 3,000 – 4,000 VND/package. This is a quick-cooking dish that instantly satisfies hunger.

However, Omachi has approached the instant noodle industry in a different direction, which is premium instant noodles. Specifically, instant noodles are made from potatoes and cost 6,000 VND/package.

Then there are a series of other products such as mixed noodles priced at 8,000 VND/package, cup noodles priced at 12,000 – 16,000 VND/package with more nutrition and recently self-boiling hot pot priced at 100,000 VND/pot that is extremely popular with young people. . It can be said that self-boiling hot pot is the most expensive instant noodle product on the market today.

“Today, we also officially launched the teriyaki pan-fried salmon self-cooked rice product on the market. With this self-cooked rice product, the best dishes from restaurants will gather inside a small box compact”, Mrs. Phuong said.

Ms. Nguyen Truong Kim Phuong, Senior Marketing Director of Masan Consumer Company. (Photo: Dai Viet)

Also according to Ms. Phuong, self-cooked rice will be the next key product of the business in the market. In addition to the revenue target of 1 billion USD in the instant noodle market, Omachi wants to expand its goal and target the market of providing “restaurant-like meals” worth 17 billion USD.

Ms. Phuong shared that products such as self-boiling hot pot or self-cooking rice are extremely convenient for users. People can take it with them when traveling, picnicking or returning home… Users only need to pour a bottle of water into the product and the rice will automatically heat up and be cooked within 15 minutes.

The selling price of self-cooked rice products ranges from 100,000 – 150,000 VND. These are products that can quickly reach the international market and bring in “billions of dollars” in revenue in the near future.

According to Ms. Phuong, since 2017, Omachi has only served about 261 million meals, then by 2023, the number of meals this brand serves will reach 544 million. The value of the meal served by Omachi in 2017 was only about 6,000 VND. By 2023, the value of the meal has increased to 10,000 VND.

In 2023, Masan’s net revenue will reach more than VND 78,200 billion, up 2.7% compared to VND 76,200 billion in 2022. In 2024, Masan expects consolidated net revenue to range from VND 84,000 – 90,000 billion , growing by 7-15% over the same period last year. Core net profit after tax before allocation to minority shareholders (Core NPAT Pre – MI) is expected to be in the range of VND 2,290 to VND 4,020 billion, growing strongly compared to VND 1,950 billion in 2023.