Tien Thanh Service and Trading

What Tien Thanh Service and Trading does

Tien Thanh Service and Trading (Công ty cổ phần thương mại và dịch vụ Tiến Thành) is a Vietnamese publicly listed company (HNX ticker: TTH) headquartered in Hanoi, operating four unrelated business segments since its 1994 founding. Its original handicraft manufacturing line retains a distinctive social-employment model, with 30% of its workforce being disabled workers and formal recognition from the Hanoi Department of Labor since 1994. Following its 2003 conversion to a joint stock company and 2016 HNX listing, Tien Thanh expanded into high-end fashion distribution (as exclusive Vietnamese importer of the Valentino Creations brand covering menswear, womenswear, accessories, footwear and bags), B2B commercial trading in steel, copper, and iron ore (through counterparties including TNHH Thái Hưng, CTCP Đầu tư Sơn Phú, and TNHH Đầu tư Phát triển Phú Hưng Long), and real estate investment anchored by the planned Tiến Thành Tower mixed-use project on a 3,433 m² plot in Hanoi's Việt Hưng New Urban Area.

The company's go-to-market is sales-led and B2B-leaning across three of four segments, with fashion distribution acting as the primary revenue line and the others operating as transactional trading arms. Revenue is generated through one-time sales of distributed and manufactured goods, with no disclosed SaaS, subscription, licensing, or platform pricing. Distribution is domestic-only, executed through direct sales for handicrafts and minerals, and through retail channels for Valentino Creations products. The company is currently pursuing a strategy of diversification-by-investment, with 2025–2026 moves into hydropower (CTCP Thủy điện Hồm Dưới), share transactions in CTCP Đầu tư Sản xuất Thương mại Toàn Phát, and a 2026 joint venture capital contribution, alongside a top-level leadership change in mid-2025. No proprietary technology, AI/ML capability, or digital platform underpins any segment.

Name

Tien Thanh Service and Trading

Legal name

Công ty cổ phần thương mại và dịch vụ Tiến Thành

Website

https://tienthanhjsc.vn

Company type

Public

Founded year

1994

Operating status

Operating

Short description

Tien Thanh Service and Trading is a Hanoi-based, HNX-listed Vietnamese company (TTH) operating four segments: handicraft manufacturing employing disabled workers, Valentino Creations fashion distribution, B2B minerals trading, and Hanoi real estate investment.

Ownership category

akta.pro rank

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Handicraft Manufacturing: Manufacturing and production of handicraft arts and crafts, with 30% of workforce being disabled workers. Products include handicrafts and ceremonial items (gold paper/joss paper).
2. Fashion Distribution: Import and distribution of Valentino Creations fashion brand products in Vietnam, including men's and women's apparel, accessories, leather goods, and footwear. This is the primary revenue driver.
3. Commercial Goods Trading: Distribution of minerals and commercial products including steel billets (for Thai Hung LLC), copper (for Son Phu Investment JSC), iron ore (for Phu Hung Long Investment Development LLC).
4. Real Estate Investment: Investment in and development of real estate projects, including the Tiến Thành Tower project on 3,433m2 land in Viet Hung New Urban Area, Long Bien District, Hanoi.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Tien Thanh Service and Trading is a publicly listed Vietnamese company (HNX: TTH) operating four business segments: real estate investment and development (including the Tiến Thành Tower mixed-use project in Hanoi), fashion distribution (authorized importer of the Valentino Creations brand of menswear, womenswear, accessories, footwear and bags in Vietnam), commercial trading (distribution of steel billets, copper and iron ore minerals to industrial buyers), and handicraft manufacturing (production of artisanal and ceremonial items, with 30% of the workforce being disabled persons).

Product overview

Tien Thanh Service and Trading is a diversified Vietnamese company with four main business segments: (1) Real Estate Investment and Development - focusing on property projects including Tiến Thành Tower mixed-use development; (2) Fashion Trading - importing and distributing fashion products including the Valentino Creations brand, plus trading various commodities; (3) Commercial Trading - distribution of steel, copper, iron ore and other minerals; and (4) Handicraft Manufacturing - producing handicraft goods with a social mission employing disabled workers. The company was established in 1994 as a limited liability company and converted to a joint stock company in 2003. It listed on HNX in 2016 with stock code TTH and current registered capital of 100 billion VND.

Differentiator

Problem solved

Functional benefit

Brands

• Valentino Creations: Luxury fashion brand imported and distributed by Tiến Thành in Vietnam, including men's suits, shirts, t-shirts, belts, footwear, bags, and women's footwear.

Products and services

• Real Estate Investment and Development Real estate investment and development of commercial and residential projects, anchored by the Tiến Thành Tower mixed-use development planned for a 3,433m² lot (Lot CT-08C) at the Vietnam Hung New Urban Area, Duc Giang Ward, Long Bien District, Hanoi, intended for supermarket, office and residential use. Targeted at real estate investors and prospective commercial and residential occupants.
• Valentino Creations Fashion Distribution Authorized importation and distribution of the Valentino Creations Italian fashion brand in Vietnam, offering menswear (suits, shirts, t-shirts, belts), womenswear, footwear, bags, and accessories. Targeted at Vietnamese fashion consumers seeking branded European apparel and accessories.
• Commercial Trading of Minerals and Industrial Goods Distribution of steel billets (for Thai Hung LLC), copper (for Son Phu Investment JSC), iron ore (for Phu Hung Long Investment Development LLC) and other minerals and commercial goods. Targeted at industrial and commercial buyers sourcing raw and semi-finished materials in Vietnam.
• Handicraft Manufacturing Production and manufacturing of handicraft and artisanal products including ceremonial items such as gold paper and joss paper, with 30% of the workforce consisting of disabled workers certified by the Hanoi Department of Labor since 1994. Targeted at individual and wholesale buyers of Vietnamese handicrafts and ceremonial goods.
• EMJ Hà Nam Liquor Production Line Investment 67% investment cooperation in CTCP EMJ Hà Nam to construct a liquor/wine production line with 1.95 million liters/year capacity at Kim Binh Industrial Zone, Phu Ly City, Ha Nam Province, under a cooperation period from 03/01/2015 to 05/05/2054 and total investment commitment of 34.2 billion VND.

Named customers1 record

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor and core.

• CTCP Đầu tư Sản xuất Thương mại Toàn PhátminorStrategic or Co-development Partner · 28 November 2025Board of Directors resolution 07 regarding transfer of shares in CTCP Đầu tư Sản xuất Thương mại Toàn Phát.
• CTCP Thủy điện Hỏm DướiminorStrategic or Co-development Partner · 1 July 2025Investment partnership for acquiring shares in CTCP Thủy điện Hỏm Dưới (Hydropower company), approved by Board of Directors resolution 05/2025.
• CTCP EMJ Hà NamminorStrategic or Co-development Partner · 3 January 2015Investment partnership in CTCP EMJ Hà Nam for construction of a wine production line with capacity of 1.95 million liters/year at Kim Binh Industrial Zone, Phu Ly City, Ha Nam Province. Tiến Thành holds 67% stake with cooperation period from January 3, 2015 to May 5, 2054.
• Valentino CreationscoreChannel Partner/ Reseller/ DistributorTiến Thành is the authorized importer and distributor of Valentino Creations fashion brand products in Vietnam. The company distributes various fashion items including men's suits, shirts, t-shirts, belts, shoes, bags, and women's footwear and accessories.
• TNHH Thái HưngminorChannel Partner/ Reseller/ DistributorDistribution partnership where Tiến Thành acts as authorized distributor of steel billets for Thai Hung LLC.
• CTCP Đầu tư Sơn PhúminorChannel Partner/ Reseller/ DistributorDistribution partnership where Tiến Thành distributes copper products for Son Phu Investment JSC. Also a major shareholder with 19% ownership stake.
• TNHH Đầu tư Phát triển Phú Hưng LongminorChannel Partner/ Reseller/ DistributorDistribution partnership where Tiến Thành distributes iron ore products for Phu Hung Long Investment Development LLC.

Scale indicators8 records

Recent moves10 records

Expansion highlights4 records

Market position

Competitive moat4 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tien Thanh Service and Trading