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World Television WORLD TELEVISION Heineken 2016 Financial Markets Conference Laurent Theodore and Nguyen Phung Hoang Heineken - 2016 Financial Markets Conference Laurent Theodore and Nguyen Phung Hoang Heineken Laurent Theodore, Commercial Director, Vietnam Brewery Ltd Nguyen Phung Hoang, Marketing Manager Tiger, Vietnam Brewery Ltd QUESTIONS FROM Unidentified Analysts Page 2 Heineken - 2016 Financial Markets Conference Laurent Theodore and Nguyen Phung Hoang Passion for Commercial Excellence Laurent Theodore, Commercial Director, Vietnam Brewery Ltd Welcome back after lunch. My name is Laurent Theodore. It is 17 years that I work for Heineken, started in Heineken France some time ago, and I had different postings in mature and emerging markets, Russia, the US, Congo - Congo Brazzaville, and now Vietnam for the last nearly two years. So it's my pleasure to take you through the commercial agenda of VBL in Vietnam. So the presentation will cover the consumers - some evolutions in the Vietnamese market landscape, and obviously the commercial strategy that we deploy within VBL. The Vietnamese markets, as you can see on this picture - it's very clear - the Vietnamese market is not one single consumer market; you have really different types of consumers. On the left side, you have traditional Vietnam in Mekong Delta, 50km south of Ho Chi Minh City. But also what you have on the right side, you have a picture from Ho Chi Minh City - vibrant, sophisticated consumers - modern. And this picture could have been taken indeed in any parts of big urban centres in the world. So this is Vietnam, a country of polarising and interesting consumer trends happening in this market. And what you see is you a see a rising middle class with - a middle class having let's say - being impacted by the same trends that you see across the globe. Individualisation, and even if you are in an Asian country, where the link between generations is extremely important, you see that the new generation is more individual than the previous one. You see a lot of regional differences. How the consumer behaves in Ho Chi Minh City is indeed quite different from the big provincial cities, being Da Nang, Nha Trang, and even more so when you compare to either secondary cities or even rural Vietnam. What you see happening, both in the urban centres and also in the rural areas, is that consumers are paying more attention to health. Health is important for them, definitely. You see also the rise of convenience, especially in Ho Chi Minh City - maybe you have seen it already physically or visually when you landed in the airport, but you see a lot of convenience stores appearing. For the time being development is mostly in Ho Chi Minh City and a bit in Hanoi, but we see it growing and growing. And last, but not least, Vietnam is extremely digitally savvy. Consumers in Vietnam are really connected to the internet. Facebook is big, but not only Facebook, it's really all the digital connections in Vietnam matter a lot. Much more than what you could expect from an emerging market. Tomorrow, André Koo will take you through the digital world and especially what we do for the Heineken brand, but it's something you have to have clearly in mind because this has a clear impact in the way we market our brands in Vietnam. Already mentioned earlier today by Leo, according to Canadean you see the premium segment in Vietnam is growing, is growing rapidly, and that VBL is indeed well- positioned with our premium portfolio - premium SKU portfolio - to tap into this growing Page 3 Heineken - 2016 Financial Markets Conference Laurent Theodore and Nguyen Phung Hoang premium. At the same time, you see that, yes, mainstream still accounts for 71% of the total market. That's why for us, again, the broad leadership strategy is critical to really keep maintaining the momentum we have with VBL. Also, even if on trade remains dominant in Vietnam, we see the growing trend of the off trade also linked to a certain extent with the growth of convenience. But on both channels, both types of channel indeed, VBL - and I will just show it to you later - is indeed actively developing strategies to both win in on premise and also in off premise. In terms of pack types, it's interesting to see that the biggest pack type in Vietnam is indeed the bottle. It's a returnable packaging material, so the bottle is predominantly drunk in the on trade. It is indeed shrinking and the one which is growing is cans. Cans is a unique conception in Vietnam compared to the rest of the world. Cans in Vietnam is perceived as more premium, and the price of cans in Vietnam for consumers is higher than the same brand in bottles. So what you see also happening in the bottle segment, you see that the share of the small bottle - 33cl or 35cl - is growing, so it's predominantly the premium brands. Whereas the big mainstream brands, which are predominantly in 45cl bottles, are declining. And what you see is that in both pack segments, VBL - so the can and the small bottle - you see that VBL is indeed growing on over-indexing versus competition. So we are growing faster in the premium segment which is growing and we are growing faster in the small bottle segment and in the can segment, which are also growing faster. So what is our strategy to win in Vietnam? So it's extremely clear within the commercial organisation, we have six must-win battles. The first four are indeed on brands, and the last two are on the way we execute these brands in the market. The first one, and it was already earlier mentioned by Leo, is about how we reignite the growth of the Heineken brand. The second one is about fuelling the Tiger momentum. The third one - we're building scale with the Larue brand to secure broad leadership within the Vietnamese market. The number four, it's about innovation; innovation with the existing brands to drive penetration and recruitment of new consumers, but also innovation with new brands when we cannot capture these new consumers or these new occasions with the existing brands that we have in our portfolio. The last two, which play a critical role in our brand performance at VBL, is how we execute in the market, it's the way we position, we make our brand presence visible, desired by the consumers, in the outlet - it's to deliver the external outlet execution. And the number six is about the way we manage our route to market, our distributors. So before taking you in detail through all these six must-win battles, I will show you a video which, better than my words, will show you how we will drive the marketing of our brands, of the VBL portfolio, in a complementary way. Video Played . Page 4 Heineken - 2016 Financial Markets Conference Laurent Theodore and Nguyen Phung Hoang Laurent Theodore, Commercial Director, Vietnam Brewery Ltd A video summarising how we market our brands in a very complementary way to impact the Vietnamese market and to make sure that we drive penetration and recruitment, with new consumers and also new drinking occasions. Moving to the first must-win battle, reigniting the Heineken growth, indeed we have a very clear strategy. Geographic strategy first, where we know where we will focus our resources to drive the Heineken brand in terms of equity and in terms of volume. So we have identified four iconic cities in Vietnam where we are focusing our resources. Already mentioned earlier today by Leo, we are leveraging our platforms - our global platforms - the Champions League, James Bond, the Cities campaign, but by adding a relevant twist - a relevant touch - to make these global platforms extremely impactful for the local Vietnamese consumers. On top of that we have a dedicated platform for what we call Festive, which is the period including the holiday seasons, moving to the Tet period, Tet being again the new lunar new year in Vietnam. And last, but not least, we are driving innovation with the Heineken brand in terms of pack configuration to make sure that we capture new occasions for the Heineken consumers. So to take you through a couple of these global platforms and the way we have activated - you have seen it already in the video, starting with the Champions League. First football is big in Vietnam; football is the number one sport in Vietnam. Vietnamese consumers follow the Champions League, they follow Manchester, the follow Barcelona, they follow Real Madrid for sure. And what we do at VBL is to make sure that when we have a global campaign, we are deploying this campaign in a fully integrated way, so what we call in a 360° approach. So whatever are the connection points of the consumer with the brand, we make sure that the brand is portrayed in the right happening way for the Champions League. So for the Champions League we have the limited bottle and can edition with a design having the cup of the Champions League. We have a special TV commercial that you have seen I think in previous financial forums, but on which we have added what we call a local touch spin in terms of digital. And tomorrow, again, Andre will take you through this digital activation. But be aware that we reach more than 20 million of views with our digital amplifications of the Champions League in Vietnam.
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