The Food Hamper initiative is a success story that acts as a catalyst for more food companies from Singapore to enter the Vietnam market.
The Food Hamper Initiative by GlobalConnect@SBF is one of the most successful overseas ventures of the company. The collaboration between GLOBALCONNECT@SBF and Singapore Food Manufacturing Association (“SFMA”) was set in motion to help Singaporean food companies jump onto the global bandwagon. Owing to a massive population of 96.47 million and its fast-growing economy, Vietnam is one of the most promising stars in the consumer product sector. However, the Vietnam consumer market is also well-known for its high barriers for foreign brands to enter. The chances of penetration is incredibly slim for foreign SMEs.
"We didn't think poppadom products could be successful in Vietnam and wouldn't have attempted to go Vietnam on our own. But GlobalConnect@SBF gave us an external perspective and a market entry plan... all our hampers were sold out in a couple of days."
Co-Founder, Bhavani Foods