Food major Kido enters entertainment sector, seeks new growth after ice cream divestment

Kido Group, Vietnam’s leading food company, is expanding into media, entertainment and commerce through its AIRO ecosystem and A&M joint venture with YeaH1, as the group gradually exits its ice cream business, which has been a significant contributor to its profit from joint ventures and associates.

Kido teams up with YeaH1 to enter entertainment sector

Kido Group (HoSE: KDC) officially launched the AIRO ecosystem in late September, a media, entertainment and commerce platform using artificial intelligence.

A week later, on October 6, Kido announced the establishment of A&M, a joint venture with YeaH1 (HoSE: YEG), to launch the television program “Xin Chao Thu Bay”, the official Vietnamese version of the “Hello Saturday” format. YeaH1 is a leading corporation in Vietnam operating in the fields of media, entertainment, and technology.

Tran Le Nguyen, Kido’s general director and chairman of AIRO Media Entertainment & Commerce JSC, said the establishment of A&M was the next concrete step in turning AIRO’s vision of becoming a media, entertainment and commerce group into reality.

Under Kido’s strategy, the ecosystem is built around three pillars: innovation to create original content intellectual property (IP), the use of AI to improve production efficiency, and partnerships with strategic partners to create synergies.

The aim is to build an ecosystem that supports both branding and selling.

Further ahead, Kido expects the cooperation between AIRO and YeaH1 to lay the foundation for a Content-Talent-Commerce business model.

Nguyen said the model aims to create an ecosystem capable of generating its own revenue for reinvestment, while also serving as a bridge for international brands seeking to enter and expand their market share in Vietnam.

New growth opportunity after ice cream divestment

Kido’s move into media and entertainment comes as the group restructures its business portfolio.

Kido has traditionally operated in essential food products such as cooking oil, seasonings, margarine, bakery products and ice cream. Between 2022 and 2026, however, the group began divesting its ice cream business through Kido Frozen Foods JSC, now renamed Nuti KD International Foods JSC.

KIDO once owned 100% of Nuti KD but began gradually reducing its stake in 2022. As of September 18, 2026, Kido held only 14.7% of the company and no longer classified it as an associate

The ice cream business had been a profitable segment, making a significant contribution to the group’s results when it was a subsidiary or an associate.

Kido’s 2025 financial statements show that its core businesses of cooking oil, food and other products generated VND1,675 billion ($64.5 million) in gross profit. However, this was not enough to cover selling and administrative expenses.

Meanwhile, Kido’s net profit reached VND587 billion ($22.6 million), 8.8 times the 2024 figure, helped significantly by its share of profit from joint ventures and associates. Nuti KD contributed VND160 billion ($6.16 million), accounting for 71% of this profit, while financial income was mainly generated from the divestment of Nuti KD, which brought in VND504 billion, and Dabaco Food, which contributed VND75 billion.

The trend continued in the first half of 2026. Kido posted revenue of VND4,345 billion ($167.33 million), up 4.5% from a year earlier, while net profit reached nearly VND100 billion ($3.85 million), up 74%.

In addition to an improvement in its core operations, its share of profit from joint ventures and associates made a significant contribution, reaching VND121.5 billion ($4.68 million) and helping offset lower financial income and higher interest expenses. Nuti KD contributed nearly VND57 billion ($2.2 million), LG Vina VND25 billion ($962,800) and Bac Binh, the owner of Van Hanh Mall, VND40 billion.

The completion of the Nuti KD divestment, reducing Kido’s stake to 14.7%, could allow the group to record additional financial income in the second half of the year. On the other hand, profit from joint ventures and associates is likely to be affected as Nuti KD is no longer accounted for under the equity method.

This raises the question of where Kido’s newcould open a new avenue, but the business is also significantly different from Kido’s traditional food operations

The success of the Content-Talent-Commerce model will depend on Kido’s ability to own and monetize content IP, the appeal of its artists, audience numbers, and its ability to convert content into commercial revenue.

On the Ho Chi Minh Stock Exchange (HoSE), KDC shares closed Wendesday at VND50,800 ($1.96) apiece.