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Mopi is the first flat painting workshop in Vietnam that specializes in designing and printing Canvas paintings for decoration of office blocks, home spaces, shops, hotels … With exclusive designs in minimal style. , youthful, Mopi paintings are the perfect choice for modern interior spaces.
Mopi is the leading brand in the office slogan segment with 3,000 corporate customers who have used the Company’s products. Mopi Painting Studio has offices in Hanoi and Saigon, with a capacity of 400-500 paintings / day and is building a Mopi Affiliate platform under the Sharing Economy model to create a platform where designers can put their designs to the end. Connecting customers through the platform of M4opi.
Mopi is the first Canvas flat studio in Vietnam specializing in designing and printing decorative canvas paintings for office blocks, housing spaces, shops, hotels … With exclusive designs with dark styles Simplistic, youthful, Mopi paintings are the perfect choice for modern interior spaces.
These paintings have youthful, bright colors, the content is quotes about work and life designed in a unique style to “shock” the spirit and inspire viewers.
Mopi intends to continue focusing production to meet the number of orders currently “overloaded”. The startup is also working with Amazon to bring “made-in-Vietnam” canvas paintings to the international market.
Mopi initially sold many different lines of decorative paintings to different types of customers. However, then instead of making pictures with pictures, Mopi’s paintings are words, often famous inspirational quotes, motivations or funny sayings in everyday life.
For example: “No profit, don’t reason”; “Labor engrossed and rewarded at the end of the month”; “Stay hungry, stay foolish”; “Get shit done” … follows the minimalist trend of startup offices in the world.
From May 1-2017, Mopi launched a variety of flat picture product lines to serve different groups of customers, including decorative paintings for families; paintings designed for coffee shops and minimalistic paintings with motivational sayings for businesses.
Compared to oil paintings or glass-lined paintings, the cost of a Mopi painting is lower, only from VND 190,000. Paintings with 3-pin nail included, so they can be hung right after receiving the goods.
Mopi’s products are very diverse with many categories:
- Mopi Office – Office paintings
- Mopi Home
- Mopi Life
- Mopi 3D
- Digital Art,…
III. BUSINESS OPERATION:
Vu Minh Tra, CEO, co-founder of Mopi Studio, said the idea to set up Mopi studio was invented in 2011. During this period, Tra had just completed his master’s program in the US and started working for a small investment fund here.
His job is to contact 50 new customers by phone every day to raise capital from customers. Small company, only about 3-4 employees, all jobs are boring, the only highlight is a picture hanging on the wall.
In 2012, the boy born in 1986 returned to Vietnam because he realized that the domestic market is still quite “primitive”, with lots of potentials for development. Initially, Tra worked at a bank, a consulting company, but later he resigned to develop the first startup project specializing in selling baby products such as baths, snacks, gums … activities to this day, is a premise for Tra to develop a number of more projects later, including Mopi Studio.
Mopi is a startup in Hanoi, officially operating in March 2017. The products they offer are not too complicated. They print the picture on canvas and framed it and then sell it to offices in need. The difference is that instead of making pictures with pictures, Mopi’s paintings are lines, usually inspirational, encouraging or funny quotes in everyday life. For example: “No profit, don’t reason”; “Work hard, reward at the end of the month”; “Stay hungry, stay foolish”; “Get shit done” …
The value that Mopi provides to customers is both providing a fast and youthful decoration solution; both help convey the messages that customers want to make. Each picture is priced from 190,000-550,000 VND, depending on size. The price is not too high and meets the needs of customers, this product is quickly welcomed by the market.
Mr. Vu Minh Tra, CEO of Mopi, said the company was profitable in the first month. For many startups, it is impossible to make a profit in the first month, but if you understand each step of the company, it will not be too strange.
Mr. Hoang Tung, the co-founder of the company, shared that before going into operation, the members – who already knew each other – formed a team called StartupX, calling it fun as a startup team to try all ideas and products are potentially developable. Any product that is not accepted by the market will be discarded; If the product is welcomed by the market, it will expand and develop. Many products were tested, Mopi was among these and also spent three months on the market to measure customer response.
From January 2017, Mopi launched a wide range of flat painting products for different customer groups, including family decorative paintings; Design paintings for cafes and minimalist lines of paintings with motivational quotes for businesses. The feedback results showed that the market welcomed the stream of minimalistic design paintings. Measured parameters are shown by the outstanding order value compared to the other two product lines.
The above results, plus the market observations in some other countries and the intuition of many start-ups, starting from March 2017, Mopi officially positioned itself as the pioneer brand in Decorative paintings are motivating and focus on corporate customers. Once clearly positioned, the company promotes communication, so sales grow steadily every month.
Please return to the profit factor from the first month of operation. The reason to achieve that is because in the beginning, the company only acted as an intermediary, when customers placed orders, they went to outside printers to print. Then close the picture and deliver the finished product. This business model does not need to give up the initial investment and is safe because it only produces when there is an order, so the achievement of profit is something that can be explained. Then, when the number of orders increased, the company invested in machines for self-production and opened more offices in Ho Chi Minh City to be able to serve customers as quickly as required.
It can be seen immediately that Mopi’s products are not too complicated. And accordingly, the barrier to market entry is not a big challenge. As an experienced businessman, Mr. Hoang Tung understands this and is ready to welcome competitors to enter the market. For him, in today’s world of connection and flat thinking, no idea can be hidden, because this picture idea is also a reference from abroad.
In addition, according to him, the competition appeared to prove a potential market. On the positive side, having more competitors will also help the market know more about this line of paintings and also a pressure to help the company improve product quality to do better. In other words, as the message from a picture designed by Mopi is “No pressure, no diamonds”.
Mopi plans to continue focusing on production to meet the number of orders that are currently “overloaded”. The startup is also working with Amazon to bring “made-in-Vietnam” canvas paintings to international markets.
After operating for more than 3 months, but Mopi Studio has more than 2,000 customers with many big names such as VCCorp, Karofi, Foody, … The monthly revenue has grown steadily at 50-70%.