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A Low-Profile Vietnamese Building Materials Giant with More Than 2,000 Employees Exporting to 35 Countries
Over the past decade, amid the high-profile names in the real estate, construction, and finishing materials markets, there has been one company that has remained relatively low-profile. Not many mainstream consumers are familiar with the name AMY GRUPO, but within the building materials supply chain - from contractors and developers to architects - it has increasingly become a highly influential brand.
And now, that “silent giant” is preparing to step into the spotlight.
On the morning of May 5, as part of its 10th anniversary celebration, AMY GRUPO officially announced its IPO plan, a move considered the company’s most significant transformation milestone since its establishment in 2015. If successful, this will not merely be the story of a building materials company going public, but potentially the notable emergence of a major player in Vietnam’s manufacturing industry.
Founded in 2015, AMY GRUPO operated its first factory in Vinh Phuc in 2016, launched its ceramic tile product line in 2017, and began exporting just one year later. After exactly 10 years, the company now owns four factories, employs more than 2,200 personnel, and has established a presence in over 35 countries, with approximately 85% of its revenue coming from professional customers, including contractors, real estate developers, building materials distribution systems, and architects.
This represents a rather distinctive revenue structure.
Unlike many material brands that focus on expanding retail channels to build recognition among end consumers, AMY GRUPO chose to penetrate deeply into the core layer of the supply chain - the segment that determines the largest cash flows within the construction industry. Although this market is less glamorous, it offers a major advantage: large order volumes, high stability, and stronger profit margins once a solid market position is established.
At the same time, AMY GRUPO pursued international expansion at a very early stage.
According to the company’s leadership, overseas expansion is not merely about increasing sales, but also a strategy to reduce dependence on a limited domestic market and avoid increasingly intense pricing pressure. This mindset is similar to that of major Asian industrial conglomerates: growth is achieved not only by selling more, but by geographic diversification to protect profit margins.
Currently, AMY GRUPO is entering the ranks of Vietnam’s large-scale building materials enterprises, no longer simply a fast-growing manufacturer.
During the 2021-2025 period, AMY GRUPO recorded average annual revenue growth of 38.2%, while profits increased by approximately 65% per year. Meanwhile, ROE remained around 28% - a profitability level considered exceptionally high compared to listed manufacturing companies in the market.
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