Imex Pan Pacific Group (IPPG)

What Imex Pan Pacific Group (IPPG) does

IPPG (Imex Pan Pacific Group / Tập đoàn Liên Thái Bình Dương) is a privately held Vietnamese multi-industry conglomerate headquartered in Ho Chi Minh City, operating across six distinct verticals: luxury and mid-market fashion distribution, international F&B franchising, travel retail, media, shopping mall operations, and airport infrastructure. The group, controlled by Chairman Johnathan Hanh Nguyen and led by CEO Le Hong Thuy Tien, functions primarily as an exclusive distribution and franchise platform that brings international brands to Vietnam — its DAFC division distributes over 96 luxury and premium labels (Rolex, Burberry, Salvatore Ferragamo, Versace, Cartier, Bvlgari, Christian Louboutin, Ermenegildo Zegna, Jimmy Choo, MCM, Tudor, Tumi, and others), while ACFC/CMFC handles mid-market labels (GAP, Levi's, Mango, Nike, Tommy Hilfiger, Calvin Klein, Parfois, Owndays). Its IPP F&B division operates as franchisee for Burger King, Domino's Pizza, Popeyes, and Dunkin' Donuts in Vietnam, alongside proprietary restaurant concepts.

IPPG's revenue mechanics span wholesale/distribution margins on branded goods, franchise royalties and operating income from F&B outlets, duty-free and travel retail transaction fees through IPP Travel Retail and airport operations (notably the CRTC joint venture for Cam Ranh International Terminal), real estate/retail rents via IPP Galleria shopping centers (including Trang Tien Plaza), wholesale margins on premium spirits (Dom Pérignon, Hennessy, Krug, Louis XIII, Veuve Clicquot) through IPP Spirits, and tobacco distribution via IPP Leaf. The group operates more than 1,000 retail points across Vietnam, employs an ecosystem generating 25,000 jobs annually, and contributes approximately 1,950 billion VND annually to Vietnam's national budget. Underlying technology is non-proprietary — the business is fundamentally a distribution, retail, and franchise operation rather than a technology platform — though an IPP Technology division exists alongside an emerging AI-education initiative (FPT Fschools partnership for robotics curriculum) and an IPP Media entertainment arm. Strategic positioning is anchored on exclusive brand principals, capital-intensive airport and free-trade-zone infrastructure (Cam Ranh Terminal, Phu Quoc Free Trade Zone), and cross-border partnerships with entities such as SM Entertainment, China Duty Free Group, Changi Airports, ACV, and Lotte.

Name

Imex Pan Pacific Group (IPPG)

Legal name

Imex Pan Pacific Group

Website

https://ippgroup.vn

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

IPPG is a Vietnam-based, family-owned multi-industry conglomerate that serves as the exclusive distributor for over 96 international luxury and consumer brands and operates international F&B franchises, travel retail, shopping malls, and airport infrastructure across Vietnam.

Ownership category

akta.pro rank

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Luxury Retail Distribution: IPPG exclusively distributes international luxury and premium brands including fashion, watches, jewelry, and accessories through DAFC and ACFC/CMFC divisions. Brands include Rolex, Salvatore Ferragamo, Burberry, Bvlgari, Cartier, Versace, Tommy Hilfiger, and many others.
2. Franchise Operations: IPPG operates as franchisee for international fast-food and casual dining chains in Vietnam, including Burger King, Domino's Pizza, Popeyes, Dunkin' Donuts, and others.
3. Travel Retail & Duty-Free: IPPG operates duty-free shops and non-aviation services at major airports across Vietnam, including Cam Ranh International Terminal through CRTC joint venture.
4. Airport Terminal Investment: IPPG is a strategic investor in Airports Corporation of Vietnam (ACV) and co-investor in Cam Ranh International Terminal through CRTC company.
5. Tobacco Distribution (IPP Leaf): Distribution of tobacco products through partnerships with Thăng Long Tobacco Company, Saigon Industry Corporation, Khatoco, and Vinataba.
6. Spirits Distribution (IPP Spirits): Distribution of premium spirits and wines including Dom Pérignon, Hennessy, Krug, Louis XIII, Veuve Clicquot, and other luxury alcohol brands.

Go-to-market motion1 record

Distribution channels8 records

Marketing channels4 records

Core offering

IPPG is Vietnam's exclusive distributor for over 100 international luxury and premium brands across fashion, watches, jewelry, and accessories; operates as franchisee for global fast-food and casual dining chains (Burger King, Domino's Pizza, Popeyes, Dunkin' Donuts); runs duty-free shops and travel retail at major Vietnamese airports; distributes premium wines and spirits and tobacco products; and co-invests in airport terminal infrastructure through the Cam Ranh International Terminal joint venture.

Product overview

IPPG is a multi-industry Vietnamese conglomerate operating primarily as a luxury retail distributor and franchise operator. The group consists of multiple business divisions: DAFC handles luxury fashion brands (Rolex, Burberry, Versace, etc.); ACFC & CMFC manages mid-market fashion (GAP, Levi's, Mango, Nike); IPP F&B operates fast food franchises (Burger King, Domino's Pizza, Popeyes, Dunkin' Donuts); IPP Spirits distributes premium wines and spirits (Dom Pérignon, Hennessy, Louis XIII); IPP Travel Retail manages duty-free airport retail and Cam Ranh International Terminal; IPP Technology handles digital/tech investments; IPP Media covers entertainment; IPP Galleria operates shopping malls; IPP Supply Chain manages logistics; and IPP Leaf covers tobacco operations. The group serves as exclusive distributor for over 96 international brands across Vietnam.

Differentiator

Problem solved

Functional benefit

Brands

• DAFC: Duty And Fashion Company - Luxury fashion brand distribution division managing premium international brands like Rolex, Burberry, Salvatore Ferragamo, Versace, Cartier and 90+ other luxury brands
• ACFC & CMFC
• IPP F&B
• IPP Travel Retail
• IPP Media
• IPP Galleria
• IPP Supply Chain
• IPP Leaf
• IPP Spirits
• IPP Technology
• CRTC

Products and services

• DAFC Luxury Brand Distribution
• ACFC & CMFC Fashion Distribution
• IPP F&B Franchise Restaurant Operations
• IPP Spirits Premium Wine and Spirits Distribution
• IPP Travel Retail Duty-Free Operations
• CRTC Cam Ranh International Terminal

Quantifiable outcome

• 1,950 billion VND annual tax contribution to Vietnamese national budget
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered major, core and minor.

• UN Women VietnammajorStrategic or Co-development Partner · 29 July 2025Strategic cooperation agreement signed at seminar on 'AI and Information Security in the Digital Era'. IPPG became one of first two enterprises in Vietnam to establish official partnership with UN Women, affirming pioneering role in promoting gender equality and women's economic empowerment.
• CDFG (China Duty Free Group)majorStrategic or Co-development Partner · 1 November 2024Strategic cooperation agreement signed to promote Vietnam tourism commerce. Both parties committed to enhancing tourism trade between China and Vietnam through duty-free and travel retail collaboration.
• ACV (Airports Corporation of Vietnam)majorStrategic or Co-development Partner · 1 April 2024Cooperation to co-host Trinity Forum 2024. ACV is the state-owned airport operator and IPPG is a strategic investor since 2015.
• Changi AirportsmajorStrategic or Co-development Partner · 1 February 2024Cooperation between Cam Ranh International Airport (CRTC) and Changi Airports International (CAI) marking a milestone in enhanced relationships. Changi provides airport management expertise for Cam Ranh terminal.
• FPT FschoolscoreStrategic or Co-development Partner · 22 December 2022Cooperation agreement to develop AI books and deploy AI and Robotics program (UBTech) for students. Partnership includes organizing nationwide Robotics Competition for students from elementary to high school, directing students toward international Robotics competitions, and building AI education ecosystem.
• LottemajorStrategic or Co-development Partner · 22 December 2020IPPP cooperates with Lotte to open Trang Tien Plaza Duty-Free Store, combining Lotte's retail expertise with IPPG's duty-free operations.
• SM EntertainmentmajorStrategic or Co-development Partner · 10 May 2018Strategic partnership for SM Entertainment's entry into Vietnamese market. MOU signed at SM Entertainment Headquarters in Seoul. Partnership includes media content production, advertising agency business, lifestyle business, artist promotion, and discovering local Vietnamese artists. IPPG serves as local partner for developing SM's business in Vietnam.
• CRTC (Cam Ranh International Terminal Joint Stock Company)coreStrategic or Co-development Partner · 9 May 2017CRTC is investor of Cam Ranh International Terminal founded by 6 investors: ACV, IPPG, Yen Khanh Co. Ltd, Viet Xuan Moi Co. Ltd, NASCO and Vietjet. Phase 1 investment is 3,735 billion VND with target capacity of 8 million passengers by 2030.
• Thăng Long Tobacco CompanyminorChannel Partner/ Reseller/ DistributorPart of IPP Leaf tobacco distribution network
• Saigon Industry CorporationminorChannel Partner/ Reseller/ DistributorPart of IPP Leaf tobacco distribution network
• Khatoco (Khánh Việt Corporation)minorChannel Partner/ Reseller/ DistributorPart of IPP Leaf tobacco distribution network
• Vinataba (Vietnam National Tobacco Corporation)minorChannel Partner/ Reseller/ DistributorPart of IPP Leaf tobacco distribution network

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Maxim's Caterers: Hong Kong-based Asian food and beverage conglomerate operating franchises including Starbucks (Hong Kong, Vietnam, Singapore, Thailand), Genki Sushi, and others. Highly comparable franchise operator model in Asian markets.
• Central Group: Thai conglomerate that owns Central Department Store, Central Food Hall, and Central Restaurants (e.g., Mistral). Operates multi-brand retail and F&B distribution across Southeast Asia with comparable multi-industry portfolio.
• Masan Group: Vietnamese consumer-retail conglomerate operating in retail (WinCommerce), FMCG, and consumer finance. Comparable diversified Vietnamese conglomerate with major retail distribution operations.
• Vingroup: Vietnam's largest private conglomerate spanning real estate, retail (Vincom, VinMart), hospitality, automotive (VinFast), and education. Highly comparable multi-industry conglomerate model in the same Vietnamese market.
• C.P. Group (Charoen Pokphand): Thailand's largest private conglomerate with operations across retail (7-Eleven franchise in Thailand), F&B, telecommunications, and agriculture. Comparable diversified Southeast Asian conglomerate with retail and franchise operations.
• PT Mitra Adiperkasa (MAPI): Indonesian retail conglomerate distributing international fashion, sports, and F&B brands (similar to Nike, Zara, Burger King franchises). Directly comparable as a multi-brand distribution and franchise operator in Southeast Asia.
• Saigon Co.op: Vietnam's largest retail cooperative operating Co.opmart and Co.opXtra hypermarkets/supermarkets. Comparable Vietnamese retail distribution platform though focused on mass-market grocery rather than luxury.
• DFS Group: LVMH-owned global luxury travel retail operator running duty-free shops at airports worldwide. Directly comparable as a luxury-focused duty-free and travel retail operator.

Regional players

• King Power: Thai duty-free and travel retail conglomerate operating Bangkok's primary airport duty-free shops. Comparable duty-free business model but concentrated in Thailand rather than Vietnam.

Broad incumbents

• Avolta (formerly Dufry): World's largest travel retail and duty-free operator with presence at major airports globally. Broad incumbent in the same travel retail category but operates across all price tiers rather than specializing in luxury.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCwralkx0HGc88YO_SonFYqQ
• Facebookfacebook.com/ippgroup.vn
• Instagraminstagram.com/ippg_vietnam
• LinkedInlinkedin.com/company/imex-pan-pacific-group-ippg

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries13 records

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 Imex Pan Pacific Group (IPPG)