How a Vietnamese Pen Maker Achieved 10X Growth After Shark Tank

When a young entrepreneur walked onto the Shark Tank Vietnam stage holding a handmade pen that shimmered like a pearl under studio lights, the investors were intrigued but skeptical. The pen was unlike anything they had seen before. It was not made from gold or silver but from layers of seashells and mother-of-pearl, materials traditionally used in Vietnamese furniture and jewelry.

That pen, born from ancient craftsmanship, became the symbol of a modern Vietnamese success story. It marked the rise of BluSaigon, a company that would redefine the meaning of luxury and pride in Vietnamese culture.

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The Woman Behind BluSaigon

At the heart of BluSaigon is Tôn Nữ Xuân Quyên, a woman who believed that Vietnamese craftsmanship deserved a global stage. Quyên grew up surrounded by art and design but noticed that traditional crafts like khảm ốc, the art of inlaying mother-of-pearl into wood, were slowly disappearing. Artisans were aging, younger generations were uninterested, and industrial production was replacing handmade beauty.

She made a bold decision to take this fading art and bring it into the modern world through something practical: pens. To her, the pen was more than a tool. It was a bridge between heritage and creativity.

“I wanted each pen to carry a piece of Vietnamese soul. It should feel like holding a story, not just a tool.”
Source: Vietcetera.com

Before Shark Tank, Quyên worked tirelessly with a small team of artisans in Ho Chi Minh City. They handcrafted every pen, one shell at a time, spending entire days polishing, shaping, and layering the nacre to achieve a natural glow. But despite the artistic beauty, the company faced a difficult challenge: how to survive financially when each pen required up to a week of work to complete.

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Turning Art Into a Business

Creating a luxury product from traditional craftsmanship was both beautiful and risky. A single BluSaigon pen could take between 24 and 72 hours to make, and special editions could take up to 144 hours. This meant production was slow, costs were high, and scaling up seemed impossible.

At that time, BluSaigon was operating at a loss. The small workshop struggled to find buyers willing to pay for the craftsmanship behind each pen. Most Vietnamese consumers were used to imported brands, and very few associated handmade products with luxury pricing.

But Quyên’s vision remained clear. She believed that if people could understand the story behind the pen, its roots, artistry, and meaning, they would see the value. This belief guided her onto Shark Tank Vietnam Season 4 in 2021, a decision that would change the company’s future forever.

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The Shark Tank Turning Point

When Quyên appeared on Shark Tank, she stood confidently before the investors with a simple statement: “BluSaigon is not only a pen company. It’s a mission to preserve Vietnamese heritage.”

Her calm and heartfelt pitch captured the attention of Shark Nguyễn Thanh Việt, a respected investor and founder of Intracom Group. He saw potential not only in the business model but also in its emotional value to Vietnam’s culture and identity.

After some negotiation, Shark Việt offered 4 billion VND for 32 percent of BluSaigon, valuing the company at 12.5 billion VND. That deal became one of the most talked-about episodes of the season.

Following the broadcast, BluSaigon’s story spread across Vietnam’s business and art communities. The company’s showroom in Ho Chi Minh City saw a sudden increase in visitors. Sales multiplied, and the brand reported a tenfold growth in revenue within months.

For many viewers, it was more than a business success. It was a cultural awakening that showed Vietnamese craftsmanship could stand shoulder to shoulder with global luxury brands.

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Growth Backed by Big Investors

The Shark Tank deal was only the beginning. The real transformation came afterward. BluSaigon’s partnership with Intracom Invest and Fibo Capital Vietnam marked the next stage of its journey. These institutional investors brought in not only capital but also structure, governance, and mentorship.

With their support, BluSaigon began to expand its production, redesign its branding, and modernize its operations. The new investment raised the company’s implied valuation to between 31 and 50 billion VND, according to Fibo Capital’s 2021 announcement.

This backing also set a long-term goal: IPO readiness. Fibo Capital described its mission as helping BluSaigon become “a cultural enterprise capable of reaching the world stage.” The fund committed to providing growth guidance, market expansion support, and financial consulting to prepare BluSaigon for public listing within a few years.

The move signaled something important. Vietnam’s luxury sector was no longer about importing foreign brands. It was about creating local icons with global potential.

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Balancing Scale and Soul

Despite the growth, one question remained: could BluSaigon scale without losing its soul?

Each pen still required meticulous handwork. The artisans had to cut, arrange, and polish each small fragment of nacre with near-surgical precision. One mistake could ruin the entire piece. The process required both artistic intuition and technical skill, qualities that can’t be rushed or easily taught.

To meet rising demand, BluSaigon began investing in artisan training programs. The company also implemented new production techniques to increase efficiency without compromising quality. One breakthrough was the ceramic nano coating, which made the delicate shell surface more durable and resistant to wear. This layer preserved the pen’s natural luster while protecting it from scratches and dust.

Quyên described this philosophy as “art on a technology core.” She believes that technology should not replace human touch but should enhance it. This mindset allowed BluSaigon to keep its authenticity while meeting the expectations of a growing customer base.

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A Smart Strategy for Function and Art

While the outer body of BluSaigon pens showcases Vietnamese artistry, the internal writing components come from Germany. Each pen uses a Schmidt Iridium Point nib, known for smooth ink flow and reliability.

This combination of global engineering and local craftsmanship created a rare balance. Customers got both a reliable writing experience and a work of art. The brand did not try to compete directly with established Western pen makers like Montblanc or Parker. Instead, it carved out a distinct niche based on luxury rooted in culture.

In a 2023 Reddit discussion among fountain pen collectors, users praised BluSaigon for its originality. One comment read, “It’s refreshing to see Vietnam produce something that feels both luxurious and authentic.”

This type of feedback helped position BluSaigon as a first mover in Vietnam’s handmade luxury market. It also opened doors to corporate and diplomatic gifting, where storytelling matters as much as product quality.

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Cultural Branding and the National Gift Strategy

BluSaigon’s marketing strategy revolves around a single concept: turning cultural heritage into national pride.

Instead of selling pens as writing tools, BluSaigon sells them as symbols of Vietnam. They are now frequently chosen as diplomatic gifts by government agencies, business executives, and international partners. The company calls this its “national gift strategy.”

This approach connects emotional storytelling with tangible craftsmanship. Each pen comes with a narrative about its materials and artisans, making it a meaningful keepsake rather than a simple object.

Globally, luxury consumers are shifting toward what experts call “cultural luxury.” These are products that tell authentic stories about their origin. BluSaigon fits perfectly into this movement by offering something unique: Vietnamese identity in a handcrafted form.

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The Path to an IPO

Institutional investors like Fibo Capital and Intracom Invest have made one goal clear. BluSaigon must become a publicly listed company within the next few years.

To achieve that, the company must prove three key capabilities. First, it needs to maintain steady revenue growth beyond the post-Shark Tank boom. Second, it must scale production while keeping quality intact. And third, it has to establish corporate governance structures that meet the transparency standards required for public markets.

If BluSaigon successfully balances these goals, it could become Vietnam’s first luxury craftsmanship brand to go public. That would be a milestone that elevates the entire country’s reputation in the global luxury sector.

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Why BluSaigon Matters

According to Dr. Nguyễn Thị Thanh Hằng, a business lecturer at the University of Economics Ho Chi Minh City, BluSaigon’s rise represents a shift in Vietnam’s entrepreneurial landscape.

“Vietnam’s luxury market is no longer defined by imported Western brands,” she said. “BluSaigon proves that heritage can become a competitive advantage when guided by modern management and clear brand vision.”

Her insight aligns with what global investors are noticing. Vietnam’s growing middle and upper class are increasingly drawn to products that reflect their own culture and identity, not just imported status symbols.

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Challenges Ahead

Every success story has challenges. For BluSaigon, the main hurdle is scalability. Training artisans to master mother-of-pearl inlay takes years, not months. Each craftsman must understand not only technique but also color, reflection, and balance, qualities that can’t be automated easily.

The company also faces market pressure. As BluSaigon expands internationally, it must compete with established luxury brands that have centuries of history and large-scale manufacturing. To stay relevant, it must continue innovating while protecting its authenticity.

To tackle these issues, BluSaigon plans to open a training academy to pass down traditional techniques while standardizing production. This would ensure quality control and secure a steady supply of skilled artisans for future growth.

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What BluSaigon’s Story Teaches Us

BluSaigon’s journey offers a powerful lesson about modern entrepreneurship. It shows that preserving heritage can also be a path to innovation and success. In a world driven by speed and automation, BluSaigon reminds us that patience, authenticity, and artistry still hold immense value.

Its story is more than a business case. It is a symbol of how local creativity can thrive on a global stage. Each BluSaigon pen, with its shimmering shell and delicate craftsmanship, carries a piece of Vietnam’s history into the hands of the modern world.

So when you hold a pen, remember: it might not just be ink and metal. It could be a bridge between tradition and the future, proof that even the quietest crafts can speak loudly when given the right story.