| DAIWA-SSIAM Vietnam Growth Fund II L.P has made a second round of investment in maternal and baby products chain Con Cưng. — VNS Photo|Viet Nam News
HCM CITY — SSI Asset Management said a fund it jointly manages with Japan’s Daiwa Corporate Investment Co Ltd has made a second round of investment in Con Cưng, the leading retail chain for maternal and baby products.
Con Cưng, founded in 2011, has over 350 stores throughout Việt Nam.
Con Cưng used the first round of investment by Daiwa-SSIAM II in November 2016 to successfully develop and integrate a children’s toys store (Toy City) and apparel (Concung Fashion) store. The Con Cưng-Toycity-Concung Fashion chain is expected to expand more swiftly in future.
Lê Thị Lệ Hằng, CEO of SSI Asset Management Company, said: “We maintain strong confidence in the founders and their young management team. The team has a strong ethical foundation, and is highly capable with the execution of technology platforms to continuously improve the customer experience.
“Besides this additional capital, we shall continue to support the company through our investment expertise and our wide international network, especially Japanese partners.
“We believe that this will open a new exciting chapter and enable the company to accelerate its growth initiatives and achieve its strategic goals.” — VNS