Providing solutions for distributing Vietnamese agricultural products directly to buyers at reasonable prices and optimal quality, Koina – a 6-month-old startup – is proving its effective strategy and is ready to accelerate growth.
After using the service for a few months, Mrs. Hội, a restaurant owner in District 3 (HCMC) with over 50 years of business experience, expressed her satisfaction with Koina, noting that the prices of goods are transparent and stable. More importantly, the company delivers directly to her without additional charges.
Sharing the same opinion, Ms. Loan, a fruit shop owner in District Tân Phú, mentioned that after using Koina’s service, she no longer needs to wake up early to go to the wholesale market, as the goods are delivered to her with stable quality and no shortage of products.
Both Mrs. Hội and Ms. Loan are among 1,000 customers at over 60 traditional markets, and they expressed that the commitment to quality, order returns, and exchange policies gave them peace of mind when choosing Koina’s products and services. In addition to expanding its reach, Koina aims to maintain a repeat order rate of over 80%.
Not only buyers benefit, but farmers also find better outlets for their agricultural products. Mr. Bền, from Tam Bình District, Cần Thơ, shared that his farm primarily relied on middlemen, but since the pandemic, prices have been volatile, and at times, they have to sell at a loss.
"Now, we farmers here hope to receive support to ensure we have a market and that both the community and buyers benefit," said Mr. Bền.
After 4 months of operation, the first 60 days saw Koina reach 100 tons, and in the next 60 days, it hit 1,000 tons. Thanks to rapid growth, Koina has attracted 80 farmer households to participate in exclusive partnerships, equivalent to over 50 hectares of farming. This number continues to rise as Koina has only tapped into a portion of the potential in two major cities: Hanoi and Ho Chi Minh City.
Sharing about the development, Mr. Lưu Hoàng Khoa, CEO of Koina Investment Group, the parent company of Koina, said: "With the traditional approach, traders often had to stay up late and wake up early to go to the wholesale market, selecting each box of goods. There were many risks, such as old or mixed products, inconsistent quality, and unstable prices, as most were controlled by middlemen."
"At Koina, by digitizing the operational process, applying classification steps, quality assessment standards at the KCC – Koina Collection Center, and implementing customer care policies, logistics, and return/exchange services, we have initially addressed many issues related to sourcing quality goods for traders," Mr. Khoa said.
When developing the distribution segment, there were many challenges to handle, such as continuously learning about the products, understanding sales channels, and constantly balancing the business equation between supply and demand. However, by now, the business situation and the foundations Koina has set up for its distribution channels are partially completed, allowing the company to start thinking about the next steps in building the ecosystem.
After 6 months of operation, Koina is still on track, and its current growth rate is three times faster than planned. The company continues to evolve and continuously raises its goals, aiming to reach new milestones faster than anticipated.
In addition to achieving success in building a solid foundation for the ecosystem, Koina is proud of having built a strong team that meets the current development speed. However, the team's capacity will not stop there; it will continuously be built and enhanced each day, in line with the growth of Koina's ecosystem.
Despite achieving rapid growth, Mr. Khoa believes that the company is still small compared to the size of the market, especially in the traditional channel. Entering markets in major cities is the first step for the company to expand its product and service offerings and increase consumption in the future.
"With the current volume we supply to the traditional market daily, we believe it is still not a large number, and there are still many opportunities for further growth in the future," Mr. Khoa said.
Koina is an agritech startup that applies technology and expertise to manage the supply chain and develop outlets for Vietnamese agricultural products. Koina distributes vegetables, fruits, and other agricultural products from Vietnam at reasonable prices and with high quality. Koina works alongside farmers to improve cultivation practices and increase land productivity through technological applications.
The company's mission is to create sustainable benefits for Vietnamese agriculture, bringing green, clean products at reasonable prices to everyone, together with Vietnamese farmers.
Founded in November 2021, Koina's founding team consists of individuals who have worked in multinational corporations and leading Vietnamese companies in the fields of livestock farming, transportation, marketing, and technology.