The wide-ranging business operation that has branches and cooperation across the country, Sokxay Group, has joined hands with Dao Coffee to increase the coffee market share in Laos while planning to launch a new coffee brand on the market.
A Memorandum of Understanding (MOU) was signed on Tuesday between the two companies on a feasibility study of the establishment of a Dao Coffee sales representative and Original Equipment Manufacturer (OEM) of coffee products at the Sokxay Group’s offices in Vientiane.
The MOU was signed by the Group’s President, Mr. Sokxay Somchayneuk, and the CEO of Dao Coffee Co., Ltd., Mr. Vannada Phomasthit, witnessed by representatives from the two sides.
The MOU was signed based on the agreement of the two sides for the development of a project for the establishment of Dao Coffee sales representatives in Laos and overseas, as well as the OEM service of new coffee brands.
The move will become a part of Champasack’s provincial social and economic development by adding value to local coffee and upgrading coffee production to international standards.
In addition, the cooperation will help to strengthen the national economic and financial situation and add value to coffee production in Laos.
The two companies have already begun the feasibility study on establishing sales representatives for Dao Coffee products across the country and have been exporting several products overseas for some time.
Now the company is trying to establish sales representatives under the company’s standard in order to improve quality and promote Dao Coffee on the international stage while creating more jobs for local people and reducing the import of goods from overseas.
Mr. Sokxay said the company sees the business opportunity and potential of coffee products, especially as the taste is accepted on the international stage and Dao Coffee is Lao-owned, which can expand both domestic and international markets.
“We have Drop Points and express delivery, Sokxay Express, for 300 branches as well as over 3,000 marts across the country which offer the potential for Dao Coffee product distribution,” he said.
“We plan to become the Dao Coffee sales representative across the country and export products to neighboring and other countries in Asia with which we have cooperation contracts,” he added.
Sokxay Group also plans to export coffee to European countries and America, which would earn more foreign currency for Laos.
In addition, Dao Coffee company will produce coffee under the Sokxay brand, which is expected to go on sale next month.
Sokxay Group urges the public to buy and use local products that have high quality, especially Dao Coffee products, which have a unique taste and conform to international standards, in order to reduce the volume of imports.