Vystar Corp (VYST)

[Roland Rick Perry]

Wow, Lam Ngoc Minh.

Starting from a family-owned factory, after 12 years, Lam Ngoc Minh Company has introduced Lien A Mattress Mfrs Company Ltd., which became a business that accounted for 98% of Vietnamese mattresses exported to the United States.

Translated to English.

http://www.doanhnhansaigon.vn/chan-dung-doanh-nhan/tgd-lien-a-ngoi-mot-cho-khong-the-thanh-toan-cau/1083907/

From the saddle

As the eldest son in the family of six brothers, Lam Ngoc Minh was entrusted by his father, Lam Ngoc Hiep, with great expectations when he directed his studies in chemistry at Ho Chi Minh City Polytechnical University and for his work. At the Pan-Asian production facility from the second year (1995).

At that time, during one visit, PU mattresses were imported from Thailand, Minh had the intention of applying this remarkable technology in mattress production in Vietnam. Then, Minh went to Malaysia to learn and learn about this technology.

At that time, when the motorcycle assembly movement in Vietnam flourished, he boldly suggested that his father shift production to Liaison. Using knowledge from the auditorium, research fellow, access to raw materials and invest in PU saddles.

Later on, Lien Asia became famous as the only unit in Vietnam to produce PU saddle products with durability and elasticity better than conventional saddles on the market. From that success, Liaoning was transformed from a family-owned factory into a private company and in 2000, the young man Lam Ngoc Minh was promoted to vice president of the company.

Although successful with the saddle, but in Minh always painful desire to continue the tradition of producing mattresses of the family. Not yet implemented, in 2002, the State issued a policy of limiting the assembly of motorcycles, a series of Liaison partners have to close. Due to the implementation of the policy for partners to restructure capital, so that time, Lien Asia faced difficulties when not able to return capital.

"I determined I could not stop because the machine was still there, but if it continues, the order is reduced and can not be used as the main product. Therefore, I decided to take Lien A back to the way of producing natural latex mattresses, "Minh recalled.

Coming to the mattress brand has great export value

Back to production of rubber mattresses, the question posed to Lam Ngoc Minh is how to make a difference? Along with studying and finding the formulation of mattress with the characteristics of deodorizing, high elasticity ... and active in mold, Minh said that the third secret to make a difference is to be active Distribution system. It was not easy because he disagreed with his father.

According to Lam Ngoc Hiep, it is advisable to use direct sales channels because distribution channels are expensive and difficult to manage. Meanwhile, Minh insists that through distribution channels Together, we will expand our market and step by step reach outward. In fact, it has proven that this is one of the key decisions that will help Lien Asia build and maintain its foothold in the market.

"The journey to build a product distribution channel is not easy either. Most agents do not know about the Pan-Asian mattress brand, so do not dare risk taking our goods. But in the difficulty again appeared wisdom ... ", Minh recalled.

The agents do not receive goods from Lien A, Minh moved through convincing Metro Cash & Carry Vietnam wholesale distribution of Lien Asia products. In 2002, accepted by Metro, the name was widely known from Asia and dealers began to accept distribution to Lien Asia.

In the domestic market, with the thought to understand and meet all requirements of customers, Liaison has strongly improved from brand identity, to product innovation. As a result, Liaison has created a mattress to lie on different levels of rubber in different areas of contact with the body lying. Lien Asia is also the first brand in Vietnam to allow customers to try the product before buying.

These changes are small, but they have received the satisfaction of most of their customers and helped Liaise keep their market share growing at 20-25% for many years. Only in 2013, while the market fell, Lien Asia maintained a 17% growth, with total revenue of nearly 239 billion, ensuring stable income for nearly 400 employees.

"Also in 2013, Lien A has invested in a third factory in Binh Duong Province (two former factories were built in 1991 and 2000, located in District 6 and District 12, Ho Chi Minh City) Mr. Minh proud to share.

In addition to the retail market, Lien Asia also attaches importance to quality and bring products into the hotel and resort projects. At present, Lien Asia products can meet the standard of mattress use of four star star or more as the mattress must be durable, odorless, meet fire protection standards ...

With such a move, Minh has brought the Asia-Pacific mattress from a lesser-known brand to become one of the more well-known names in mattress manufacturing and trading, alongside Kymdan and Van Thanh. .

Without stopping in the domestic market, Minh also brought Lien A to conquer overseas markets. Through learning, he knows that, with the international market, the most important factor is the quality, safety for the health of the user. Therefore, he bravely invested in modern machinery and technology and spent 15 billion VND to build research and development (R & D) department in Lien A.

In terms of quality, Lien A invites the quality assurance unit of Germany (the country with the world's most prestigious mattress quality standards) to verify and grant the LGA Certificate and Certification Only ECO safety for Lien A product.

Thanks to these steps, Lam Ngoc Minh gradually brought Lien Asia products to stable in 24 markets in the world, including big markets such as USA, Korea, Switzerland and Taiwan. Particularly in the US market, in 2012, Lien Asia has been certified as a business enterprise accounted for 98% of the mattress from Vietnam into the United States.

Can not sit down

Talking about his business secrets, he said: "My business principle is completely in the direction of self-research, research. Thanks to research, hard to observe, customer survey, I just know, want to business success must have diverse product lines and make a difference. Reduced hardness, reduced weight of the mattress, but the quality raised through the change of mattress formula is the result of this principle. "

In addition, to be successful, businesses must have their own culture. Therefore, Minh is very focused on developing teambuilding activities for all employees or staff of each area on Saturday every week. "This is an activity that connects employees, helps me understand more about employees, and helps employees understand, capture and share my vision in business," he explained.

Mr. Minh's voice became vibrant when sharing his aspirations for the future. His father's message was that Liaise be the world leader in mattresses. In order to realize this goal, he needed time and manpower strong enough. In the immediate future, he is recruiting and inviting staff from multinational companies to work in Liaison.

"Determining 'can not sit down to become a global company', I am promoting the US to open the company, directly clashing with American culture and skills. If successful, this will be the framework for Liaoning to develop in other markets in the world, "said Minh.

Chat with businessman Lam Ngoc Minh

* Technically trained, but must do business, to him what is the biggest challenge?
- When getting into business, I have to spend time getting more stuff. Logic skills, thinking is the strength, but other skills such as negotiation, management ... is the weakness of the technical people.
* He once shared, business people must be flexible to achieve good results?
- Yes! Enthusiastic creativity, but creators also need to remember that the product is marketed to fit the needs of consumers to have the opportunity to stand firm, not just satisfy themselves.
Selling prices must be reasonable, high or lower than the general level of the market also create bad effects.
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BAO GIANG / Investment Newspaper