What led you to engage in this businesssector?
Entrepreneur Phan Ngoc Tung: I must say that business is a great passion of mine. Right after graduating from university, I immediately delved into the world of business. In my startup journey, I established a trading company dealing with machinery and equipment, but the venture wasn’t very successful. During that time, I was contemplating and seeking opportunities for change and business redirection. It must be noted that in challenging times, luck sometimes shines, and I met a business partner from South Korea who was seeking business opportunities in Vietnam. He gifted me a box of Korean ginseng as a present. Upon trying it myself, I realized the effectiveness of the product in improving health. This inspired the idea of starting a business related to this product. My simple belief is that products that contribute toimproving health are essential for people in any society, at any stage, and in any market.
So, how did you initially proceed, and what were the first steps like?
Entrepreneur Phan Ngoc Tung: Initially, I began this business on a small scale, mainly importing and retailing the products. During this phase, the work was quite challenging because my experience in trading this particular type of product was limited. I was learning as I went, gaining experience through both successes and
failures. In terms of market awareness and brand recognition, the medicinal properties of ginseng and lingzhi were not widely known, especially among consumers and patients with specific needs. Therefore, introducing these products to consumers also posed its own difficulties.
Who are the target audiences that your agents are aiming for?
Entrepreneur Phan Ngoc Tung: Products made from ginseng and lingzhi belong to the premium product line. With the passionate commitment and goal of Thien An Phat Company to provide quality products that are approachable, suitable, and serve a wide range of users. Based on this understanding, Thien An Phat has proactively segmented its target customer groups... And up to the present time, we have various product lines, rich in variety, price range, and quality, catering to all types of consumers.
Can you share which products are currently most popular in the Vietnamese market, and what is your perspective on this?
Entrepreneur Phan Ngoc Tung: In the past, ginseng products weren’t very diverse, primarily consisting of whole ginseng roots and red ginseng. However, in recent years, driven by market demand, advancements in science and technology, improving living standards, and income levels, manufacturers have innovated and introduced numerous products such as whole ginseng roots, red ginseng extracts, ginseng pills, ginseng essence, and combinations of ginseng with natural ingredients like lingzhi. These products are packaged in appealing and convenient packaging, with delightful flavors that are easy to use.
On the path to success, does Thien An Phathave any strategies or solutions to continually improve its service to Vietnamese customers?
Entrepreneur Phan Ngoc Tung: Contributing to consumers’ well-being and good health is our greatest joy. Therefore, we are constantly striving and making efforts every hour, every day, with meticulousness and dedication, aiming for excellence in all aspects such as product quality, product presentation, cost-effectiveness for a wide range of consumers, excellent services, and a widespread store network to provide convenience for users. Moreover, we are determined to consistently create a variety of high-quality products to meet the increasing demands of consumers. Currently, Thien An Phat has more than 300 agents nationwide, employing over 1,500 workers, ensuring stable
incomes for them.
Thank you, Entrepreneur Phan Ngoc Tung, for this insightful conversation with VLR Magazine. We wish you and Thien An Phat Company, as well as the KGS agent network, continuous development in both quantity and quality.