Starting from scratch, Rita Võ has become a top player in Vietnam’s high-end construction and interior industry. Chairman Võ Mậu Quốc Triển opened up about his tough yet fascinating entrepreneurial journey.

Mr. Trien, how has Rita Võ’s position changed since you first entered the construction and interior industry?

Sixteen years ago, we had to travel to many countries in Europe and Asia to convince foreign companies to cooperate with Rita Võ. But now, it’s the other way around, many international partners are eager to work with us. As a reputable distributor of premium construction materials and luxury furnishings, we are now in a position to be very deliberate and selective with our partners.

What factors have driven Rita Võ’s rapid success and growth?

Integrity and quality are the core principles of our company. I insist on clarity and transparency in all our dealings. Many businesses in this industry fail because they sell products with unverified origins. We are different. Everything we sell is clearly labeled. If a product is made in Thailand, we state it’s made in Thailand. If it’s from Italy, we specify Italy. The same goes for products from China. The country of origin is not as important as the technology and quality standards of the manufacturing group behind the product.

Rita Vo is considered a leader in Vietnam's construction materials and interiors sector. Why has the company not yet expanded into international markets?

The Vietnamese market is exceptionally strong, arguably one of the best in the region and even globally. While foreign markets often depend on institutional investors, Vietnam's market is driven by significant domestic purchasing power. Therefore, our strategy is to prioritize the strongest markets first.

How did you manage to persuade Kohler, a leading brand in sanitary and kitchen fixtures, to choose Rita Vo as its partner in Vietnam?

When I first approached Kohler, I lacked experience and did not have a showroom. All I had was my integrity and a commitment to quality. I presented our company profile and engaged in numerous exchanges via fax. At the time, we were at a disadvantage compared to other businesses that had established showrooms and extensive dealer networks. Despite this, our honesty and transparency ultimately secured us the partnership.

What did you include in your company profile to convince them?

I wrote about my personal background: that I am a husband and father of three, and that my parents were farmers. I mentioned that I studied finance at the University of Economics, Ho Chi Minh City, and had several years of experience managing a state-owned enterprise.

Why did you choose Kohler specifically?

I was drawn to Kohler after noticing the clean and pleasant toilets in the five-star hotels I stayed in while traveling abroad. I was personally haunted by the memory of the hot, stuffy, and unhygienic student toilets from my university days. This experience inspired me to research Kohler and convince them to partner with me.

Do you consider that partnership to have been a stroke of luck?

I do not believe it was luck. At that time, my English skills were limited, and I had to learn on my own. Whenever my partners spoke too quickly, I would ask them to slow down and explain things to me. I was always very clear about our plans and what we intended to do. It was this straightforward and transparent communication that led them to choose Rita Vo.

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Besides construction materials and interiors, what other sectors is the company expanding into?

The company has diversified its business operations to adapt to market fluctuations, but our core business remains high-end construction materials and interiors, where we are the market leader. Other ventures are supplementary. For instance, we are entering the real estate market to develop genuinely high-quality, luxury apartment buildings. It is a disservice to label a building as "luxury" if it uses substandard materials and poor design. Every single item—from the tiles and lights to the doors and cabinets—must be of premium quality. We are also planning to build a five-star hotel that meets the highest standards of quality.

Could you provide more details about the upcoming luxury apartment project?

We will commence construction on a luxury apartment project on Nguyen Van Cu Street, District 5, later this year. The total investment will be over 2 trillion Vietnamese dong. The project is expected to feature over 280 units and will incorporate top-tier global brands like Kohler, Miele, and Simmons. The estimated selling price is around $12,000 per square meter. The building will be designed to feel like a five-star hotel, with amenities such as a restaurant, a club, and a cigar lounge.

Do you anticipate these high-priced, luxury apartments will be difficult to sell?

I look at markets like Thailand and Singapore as a reference. In Singapore, truly luxury homes are priced at $60,000–$100,000 per square meter, while in Thailand, they range from $20,000–$30,000 per square meter. The Vietnamese market is ready to embrace similar price points. Rita Vo has an extensive database of high-net-worth clients who recognize our reputation for quality and reliability. Given this, a project of just over 280 units is not a significant challenge for the company.

Why is Rita Vo entering the real estate market now, at a time when the sector is facing significant difficulties?

Business often depends on timing and passion. I have harbored a dream of creating truly luxury residential products for 20 years. I told my CEO that we would enter the real estate market once the company had a strong and sustainable foundation in the construction materials and interiors sector. We have been preparing for this for two decades, acquiring prime land with clear legal titles.

This meticulous preparation makes us very confident about our future projects.

Thank you, Mr. Trien.

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