Seedcom, the operator of The Coffee House beverage chain and June fashion outlets, gained revenues of over VND1.5 trillion ($60.5 million) in the first 9 months, a 50% year-on-year surge, despite losses.
The company posted losses in the period, Seedcom CEO Nguyen Hoanh Tien said, not revealing the exact amount of loss.
It is expected to profit next year. “With big investments, firms under Seedcom are expected to see much improved financial results in the last months of this year,” he said.
Seedcom, established in 2014, also owns delivery companies AhaMove, Giao Hang Nhanh, and retail chain Kingfoodmart.
Of Seedcom’s total revenues in the first nine months, over 37% came from The Coffee House, more than 25% from the fashion group, and some 20% from Kingfoodmart.
Last year, Seedcom branched into finance by partnering with Thai bank Kvision to provide payment and loan services to small and medium companies, focusing on cashless finance.
It also sold the farming unit Cau Dat Farm, which grows and processes coffee, to Nova Consumer under NovaGroup to focus more on retail.
