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Kyowon Theorem, a network marketing specialist company of Kyowon Group, announced on the 28th that it has acquired the direct sales business rights in Vietnam. Photo by Kyowon Group
View original image[Asia Economy Reporter Kim Heeyoon] Kyowon Theorem, a network marketing specialist company under Kyowon Group, announced on the 28th that it has acquired direct sales business rights in Vietnam.
Vietnam, with a population of 97 million, has been recording an economic growth rate of over 7% annually. The direct sales market has also shown a steep growth rate of 14.9% over the past three years, surpassing $623 million last year. As a result, leading domestic and international companies are focusing on Vietnam's growth potential and seeking to enter the local market. By securing direct sales business rights in Vietnam, Kyowon Theorem has gained a favorable position to target the local market.
Launched in September 2017, Kyowon Theorem achieved sales of 46.9 billion KRW last year, more than doubling compared to the previous year. It also jumped to 19th place in the ranking of domestic multi-level marketing companies. The cumulative number of members has exceeded 120,000. Currently, Kyowon Theorem operates about 100 products across four categories: beauty care, health care, personal care, and living care.
According to Kyowon Theorem, it plans to launch a local brand in the first half of next year, leading with popular K-beauty and K-health products.
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A Kyowon Theorem official said, "Entering the Vietnamese market means there will be more areas and opportunities for members to be active," adding, "Starting with the Vietnamese market entry, we will actively pursue additional overseas markets such as Southeast Asia to further enhance Kyowon Theorem's global competitiveness."
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