Thanh Thuý

BRA – Part 1
X-MEN
Background:
1) History:
- https://tinnhanhchungkhoan.vn/cha-de-x-men-khac-biet-hay-la-chet-
post99888.html

- In 2001, Mr. Phan Quoc Cong and his friend joined hands to build ICP with the desire
to make a difference. To become a domestic company that meets global standards,
providing world-class products and services to consumers.

- In 2002, the company launched its first product, a fruit and vegetable cleaner branded
Vegy. Despite limited marketing resources, Vegy still makes a special mark and is
trusted by families.

- The biggest turning point that contributed to ICP becoming a leading company in the
field of cosmetic chemistry was the introduction of the X-Men men's shampoo in 2003.

- All of the above shampoos are aimed at an audience of women. However, quite
surprisingly, consumers do not distinguish it from a female shampoo product. Men, too,
often use these oils. At that time, in the men's shampoo market, only Unza's Romano
was the monopoly. However, Romano is focused only on the shower gel and is
accompanied by the Enchanter as a by-product.

- At the end of 2003, there were two big players in the shampoo market, which were
Unilever and Protect & Gamble (P & G). These two brands dominate the market with
products such as: Sunsilk, Clear, Panteen, Head & Shoulder. At the same time, there are
a few other shampoo brands available, such as Double Rich, Enchanter, and so on.
 => ICP discovered this unused market segment. They think that this market segment is
very fertile to exploit. So X-Men was born. X-Men is a product of the international
household goods joint stock company ICP. With a set of products with a rather Western
shape and a rather special name at that time: X-Men. The reason X-Men is a rather
special name is because, at the same time, the popular movie X-Men II was also released
to the public in Hollywood. On the other hand, according to Mr. Phan Quoc Cong -
General Director of ICP, X-Men and later Dr Men of ICP all have the word "men" to
refer to products for men. X is derived from "Next Generation" (next generation) and X-
Men is the new generation of men, elegant and stylish. He wants to bring this product to
men around the world, not just in Vietnam. The brand name sounds very Western to
express that global strategy.

- ( https://wikimarketing.vn/tiep-tuc-cau-chuyen-x-men.html/ )

- X-Men successfully paved the way for the men's grooming market in Vietnam
with its breakthrough fragranced men's shower gel and shampoo.
- X-Men is now the leader in men's grooming products, offering high quality
products in hair care, body wash, deodorant & styling agent.
- https://marico.com/global/brands/x-men

2) Board of Directors and CEO

 3) Products:
https://www.x-men.com.vn
X-Men has a wide range of products from shampoo, shower gel, perfume,
deodorant spray/roll, etc., which are classified according to product lines from
popular to high-end. Includes 3 main product lines: X-Men, X-Men Go and the
most advanced line X-Men for Boss.

X-MEN
Type Name Pics Detail Price

- 65,000 vnđ /
SHAMPOO

- Powerful Scents 180g

Special
- Long - lasting Scent - 145,000 –
Edition
- 2X DEEP CLEAN. 179,000 vnđ /
650g
 - 45,000
vnđ / 180g
- Clean dandruff, - 80,000
Nourish Scalp. vnđ / 380g
- Masculine, - 149,000 -
Metal
Refreshing Scent. 170,000 vnđ/
- Saving performance 650g
all day.
190,000 –
205,000 vnđ/
900g

- 49,000 –
59,000 vnđ/
180g

- X2 deep-cleaning. - 89,000 –
- Masculine, Liberal 103,000 vnđ/
Wood scent. 380g

- Fragrance lasts all - 150,000 –

day long. 164,000 vnđ/
650g
- 205,000
vnđ/ 900g
 - 50,000 –
59,000 vnđ/
- X2 deep-cleaning.
180g
- Masculine, cool
Water - 90,000 vnđ/
scent.
380g
- Silky hair.
- 164,000
vnđ/ 650g
SHOWER GEL

Special - Deep clean - 180,000

Edition - Cool, not greasy. vnđ/ 650g

Wood - Breakthrough
Formula 2 in 1. - 147,500
- Masculine scent. vnđ/ 650g
- Saving-scent all
day.
 - Deep- clean, cool
- 170,000
- Masculine scent.
Water vnđ/ 650g
- Saving-scent all
day.

- Deep- clean, cool

- 173,000
- Masculine scent.
Fire vnđ/ 650g
- Saving-scent all
day.

- Strong Scent
( Combination of
Special Spicy Pepper & Fresh - 64,900
Edition Orange ) vnđ/ 50ml
- Scent for 48 hours.
- Formula 3 effects.
 - Strong Scent
(Combination of
Blackcurrant & - 59, 000
Fire
Patchouli ) vnđ/ 50ml
- Scent for 48 hours.
- Formula 3 effects.

- Strong Scent (A
DEODORANT ROLL

combination of musk
-59,000 vnđ/
Woood and cedar wood )
50ml
- Scent for 48 hours.
- Formula 3 effects.

- Strong Scent (Aqua

scent is masculine,
-59,000 vnđ/
Water cool like the ocean)
50ml
- Scent for 48 hours.
- Formula 3 effects.

- Strong Scent
(Luxurious, delicate
- 59,000vnđ/
Metal perfume formula.)
50ml
- Scent for 48 hours.
- Formula 3 effects.
 Special
-Powerful aroma
Edition
(Premium
perfume formula
combines spicy - 99,000
Pepper & fresh vnđ/ 100ml
Orange )
-Long lasting
fragrance
-Deodorant
Wood -Masculine scent
(combination of
DEODORANT SPRAY

musk and cedar

wood)
-Instant deodorant
-Long lasting - 89,000
fragrance vnđ/ 150ml

Fire -Masculine scent

(combination
from Blackcurrant
& Patchouli)
-Instant deodorant
-Long lasting - 94,000
fragrance vnđ/ 150ml
Focus -No-gas formula,
x2 perfume
-Premium
performance - 94,900
essential from vnđ/ 100ml
france
-Long lasting
scent

Brave -No-gas formula,

x2 perfume
-Premium
performance - 94,900
essential from vnđ/ 100ml
france
-Long lasting
scent
Impact -No-gas formula,
x2 perfume
-Premium
performance - 94,900
essential from vnđ/ 100ml
france
- Long lasting
scent
 Special -Strong scent
Edition (Combination of
fresh pepper and
orange) 250,000
- More than 90 vnđ/
times of using. 50ml

Fire -Masculine scent

(combination
LUXURY PERFUME

from
Blackcurrrant & 235,000
Patchoulli) vnđ/
-Long lasting 50ml
scent
-Luxury,
delicious design
Wood -Masculine scent
(combination of
musk and cedar
wood)
235,00
-Long lasting
vnđ/
scent
50ml
-Luxury,
delicious design
 Mann Up -Premium
Air performance from
france (extracted
from Citrus and
105,000
Cedarwood
vnđ
incense)
/50ml
-X2 Perfume, long
lasting up to 8
DAILY PERFUME

hours
- Over 90 use
Mann Up -Premium
Amber performance from
france (Musk &
Bergamot Extract)
105,000
-X2 Perfume, long
vnđ
lasting up to 8
/50ml
hours
- Over 90 use

Clean Cut -Keep up to 8

hours
-Gel formula, easy
HAIR WAX

72,000
to use
vnđ/
-For short,
70g
medium hair
 Freestyle -Keep up to 8
hours
-Hair friendly 72,000
formula vnđ
-For short, /70g
medium hair

Spiky -Keep up to 8
hours
72,000
-Hair friendly
vnđ
formula
/70g
-For short, very
short hair
HAIR GEL

Super Strong -Holds great folds 52,000

Hold -Gel formula, easy vnđ/
to use 150g
-Popular hair
styles
 Super Strong -Holds great folds 52,000
Hold & Wet -Gel formula, easy vnđ/
Look to use 150g
-Popular hair
styles

Strong Hold -Holds great folds 52,000

-Gel formula, easy vnđ/
to use 150g
-Popular hair
styles

X-MEN FOR GO
Detox -Clean dandruff
-Strong, bouncy
hair
SHAMPOO

-Long lasting 113,000

scent vnđ/
370g
 Refresh -Clean dandruff
-Cool, refreshing

113,000
vnđ/
370g

Detox -Prevent bacteria

-Clean quickly
-Long lasting
scent 166,000
vnđ /
630g
SHOWER GEL

Refresh -Prevent bacteria

-Clean quickly
-Long lasting
scent 166,000
vnđ /
630g
 Detox -Clean skin –
Anti - acne
-Bright skin
79,000
vnđ/
100g
CLEANSER

Refresh -Oily clean

-Cool and
refreshing
79,000
vnđ/
100g

X-MEN FOR BOSS

BOSS INTENSE

Shampoo - Wash off 186,000

the oil and vnđ/
dirt on the 650g
scalp.
-A deep,
powerful
fragrance
Shower -Inner
Gel power
incense
-Clean oil 129,000
and dirt on vnđ/
the body. 380g

Perfume - Fragrance 285,000

Trade vnđ/49m
Dynamic l
Fresh
(Combining
Premium
Ingredients
Sandalwood
And
Amber)
Body - Internal
Mist Strength
Agarwood
incense
(Combining
premium
ingredients
105,000
Sandalwood
vnđ
and Amber)
/150ml
-Deodorant,
effective to
help keep
your body
dry and
comfortable
all day long.
Deodoran -Fresh
t Roller dynamic
scent
(combining
premium 71,500
ingredients vnđ/50m
Sandalwood l
and Amber)
-Fragrance
oil lasts up
to 48 hours
 Hair Wax -Keep
drying
length,
create
flexibility
74,000
vnđ/ 70g
MOTION

Shampoo -Wash off 196,000

the oil and vnđ/
dirt on the 650g
scalp.
-Fresh
dynamic
performance
Shower - Fresh
Gel dynamic
performance
-Clean oil
196,000
and dirt on
vnđ/
the body.
650g

Perfume -Fresh 285,000

dynamic vnđ
performance /49ml
-Motion is
like a
disruptive
cocktail,
combining
powerful
incense
notes from
Sandalwood
and the
greenness of
Citrus.
Body Fresh
Mist Dynamic
Performanc
e
Combining
premium
ingredients
105,000
Citrus and
vnđ
Sandalwood
/150ml
Deodorant,
effective to
help keep
your body
dry and
comfortable
all day long.
Deodoran -Fresh 71,500
t Roller Dynamic vnđ
Scent /50ml
(combining
premium
ingredients
Citrus and
Sandalwood
)
-Fragrance
oil lasts up
 to 48 hours
Hair Wax - Keep
strong, non-
sticky
-Xmen For 74,000
Boss Spiky vnđ /70g
– Fresh
Dynamic
Fragrance
Shampoo -Wash off
the oil and
dirt on the
scalp. 196,000
-Luxury vnđ/
Scent 650g
LUXURY

Shower - Luxury
Gel Scent
-Clean oil
and dirt on
196,000
the body.
vnđ/
650g
Perfume -Fresh 285,000
Dynamic vnđ
Performanc /49ml
e
( Freshness
inspired by
Bergamot in
the South of
Italy
combined
with
luxurious
notes of
Sandalwood
- Luxury
fragrance)
Body -Luxury
Mist Scent
(Combining
premium
ingredients
Bergamot
and
105,000
Sandalwood
vnđ
)
/150ml
-Deodorant,
effective to
help keep
your body
dry and
comfortable
all day long.
Deodoran - Exquisite
luxury
t Roller
fragrance
(combining
premium
ingredients
Bergamot
71,500
and
Sandalwood vnđ
)
/50ml
Deodorizes
and reduces
perspiration
to keep you
dry and
comfortable
all day long.
 Hair Wax -Natural
Flavor,
Flexible
Style
-Xmen For 74,000/
Boss 70g
Freestyle –
Exquisite
Luxury
Fragrance

4) Challenge:
- Strengths:
About business:
 X-Men has a dynamic and creative development path. Making a difference in
products, thereby creating the strength to help their products have a strong
foothold in the market.
 X-Men has a very good marketing strategy that creates a big advantage for its
products. This is possible because the X-Men has comprehended and altered the
psychology of Vietnamese consumers.
 The company's human resources are qualified staff who understand the people
and culture of Vietnam.
 With a 7% market share, X-Men ranked first in the men's shampoo market, fifth
in the general shampoo market, and first (with more than a 60% market share) in
the men's shampoo segment.
About the product:
+ X-men shampoo brand is a Vietnamese brand but has a very Western name, this
has hit the psychology of foreign buyers of the Vietnamese.
 It has a particularly "manly" scent.
- Weaknesses:
 X-men targets a group of male customers with average incomes and above, living
in urban areas, so they have not expanded their distribution system, especially in
the provinces and rural areas.
 ICP is a young enterprise with little experience compared to the "big guys" in the
industry, like P & G, Unilever,...
 There are many weaknesses in the product management process. Typically, the
use of too many X-men brands as a basis for developing many products.
( examples include X-men Bos, Dr-men, Teen X, and the fashion line X series )
 Although X-Men shampoo was created as a highlight when it was born, it is not
really sustainable. Customers are still unsatisfied with some aspects, such as: the
scent does not last long, the hair is easy to hiss,...
- Opportunities:
 The male-specific product market segment is very "fertile" to exploit.
 X-Men holds a large share in the shampoo market, especially 70% in the market
segment of men's shampoo.
 The right strategy, the product is highly differentiated, comes out at the right
time, and enters a large enough market segment.
 There is an advantage at a time when the State always encourages "Vietnamese
people to use Vietnamese goods".
 Their shopping needs also increase, especially for consumables like ICP, which
is an advantage.
 Currently, Vietnam's population is ranked 15th in the world with 97 million
people. In which, 75% of the population of Vietnam live in rural areas.
 Therefore, the population shift into large urban centers is inevitable and will have
an important influence on consumption habits in Vietnam in the coming years.
Men currently account for more than 50% of the population of our country, but
the market share of normal shampoo for men currently accounts for just over
12%. Thus, the development opportunity of the X-Men is still great because X-
Men targets men aged 18-45, with a good average income or more, living in
urban areas.
(https://danso.org/viet-nam/ )
( https://www.uef.edu.vn/khoakinhte/hoc-thuat/x-men-chien-thang-ga-khong-lo-
unilever-pg-vn-ntn-2063 )
- Threats:
 Seniority:

+ As a young enterprise that was only established in 2003, there is not much
seniority in the category of products for men.

+ Enterprises are "late birth" compared to big brands such as P & G, Unilever, .. so
they cannot have a large production scale.

 Competition:

+ Competitors include large foreign corporations such as P&G, Unilever, and...

+ There are no strong economic resources like large corporations in the cosmetics
industry.

+ Up to now, CLEARmen's shampoo market share is close to that of X-Men, and

twice as much as Romano, It can be considered as the main rival of X-Men.
 + Unilever is a household goods behemoth, which is a significant advantage.When
Unilever focused on attacking any market, a fierce battle took place.

In the shampoo market, Unilever and P&G are considered the two "big boys". They
engaged in a fierce competition to eliminate the other weak competitors.

 Product:

+ Supplier : Raw material suppliers can raise the price of the product their company
wants to sell to ICP. Sometimes, they can even reduce the quality of the product to get
a higher profit margin. This will be detrimental to ICP because the price of input
materials has increased, the quality is not as good as before, reducing a large amount of
profit, lower quality, less competition with other companies in the same field. area.

+ Competitors: When compared to the products of new competitors such as

CLEARMen, Romano, and others, the product launched by X-Men is not significantly
different or groundbreaking.