SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Orion confectionery company, headquartered in Yongsan, South Korea, is also operating in Vietnam through its local subsidiary there. It was reported that this overseas unit has achieved very high sales records, and as of November, the amount was more than $313.8 million.
The given number is said to be the company’s accumulated sales from January to last month. This showed a 38% increase compared to last year in the same period. With the sales results for 11 months, Orion Corp. is apparently experiencing rapid growth in the said country.
According to The Korea Economic Daily, the high sales were attributed to the popularity of its Choco pie snack product. This has been selling out fast, along with the O’Star potato crisp, boosting Orion’s sales.
It was in 2005 when Orion brought the brand to Vietnam by establishing a local subsidiary. In 2016, it saw KRW200 billion in sales and this amount was topped last year after earning KRW300 billion.
The Choco pie alone is a moneymaker already and showed annual earnings of KRW100 billion in the Southeast Asian market. It was mentioned that the pie has become part of local wedding favor in Vietnam, and it is also used on the altar for ancestors, and these have made the snack one of the bestsellers in the country.
Orion’s O’Star potato crisp also topped the ranking for potato snacks and compared to 2021. Its sales increased by 39% in the same period. Business experts opined that two of the leading reasons for the surge in sales for Orion products were the full localization of the company’s production facilities and the flavor of choco pie and potato crisps that suit the Vietnamese palate very well.
Moreover, they said that the company’s ability to build connections with distributors also contributed to the brand’s commercial success here. It is said to have secured more than 170 dealers across the region.
Finally, Yonhap News Agency reported that Orion is planning to add new production facilities at its production plants in Ho Chi Minh City and Hanoi. It is also considering setting up another factory, but this is still a plan at the moment.
