Recently, the IPP Group registered to increase its chartered capital from VND2.5 trillion (about US$110 million) to VND3 trillion (US$132 million).
It is notable that Johnathan Hanh Nguyen will hold only 1% of the shares in this company while his wife, Le Hong Thuy Tien, and his two sons, Philip and Louis will hold 59% and 20% stake respectively.
Established in 2002, IPP Group had a chartered capital of VND600 billion (about US$26.4 million) of which Johnathan held 90% and Thuy Tien held a 10% stake.
IPP Group is a leading retailer in Vietnam. This company distributes and retail high-class and middle class fashion, cosmetics, perfume and famous liquor brands. Besides, IPP Group also does franchise business with many fast food chain and high-class restaurant system.
In addition, IPP Group also invests in commercial centers, duty free shops at airports as well as real estate hotels, casinos and resorts.
IPP and its related companies hold more than 40% of shares of Southern Airports Services Joint Stock Company (SASCO). In the first 6 months of 2017, SASCO achieved sales of VND1,211 billion (more than US$53 million) inceasing by 9% compared with the same period last year.
