On the 4th, UR Planner announced that it had established a joint venture (JV) with local Vietnamese distribution company Palms Morning and officially launched the joint corporation 'UR Planner Vina'.
The launch ceremony, held at the Palms Morning headquarters in Hanoi, Vietnam on the 3rd, was attended by key officials from both companies, including Jang Woo-hong, CEO of Your Planner, and Phan Ngoc Anh, CEO of Palms Morning. The two companies agreed to transition to a joint management system, and Palms Morning changed its corporate name to "Your Planner Vina." Your Planner will acquire a 40% stake in the new entity and participate in its overall management.
Through this joint venture, the two companies plan to introduce a "Korea-Vietnam dual-operation structure" to support the establishment of Korean K-beauty brands in the Vietnamese market. YourPlanner will be responsible for discovering and sourcing promising Korean brands and developing brand strategies, while YourPlanner Vina will handle local implementation, including cosmetics licensing and product registration, local online and offline distribution network integration, and sales operations.
Your Planner is a beauty and commerce solutions company that leverages its platform business experience to support the entire process of entering the ASEAN market. It performs functions similar to a local branch, including market research, licensing procedures, and wholesale network establishment, and has provided domestic brands with a relatively transparent distribution structure and pricing policy.
The company explained that the establishment of this joint venture is a strategic move to move beyond simple import and distribution agency operations and establish a formal distribution system based on official licensing. The goal is to maintain price order in the local market and support domestic brands in conducting business in a more stable environment.
Phan Ngoc Anh, CEO of YourPlanner Vina, stated that she will combine her accumulated local distribution experience and network with the competitiveness of Korean brands to create differentiated results. Jang Woo Hong, CEO of YourPlanner, emphasized the need for a distribution model based on long-term trust in the Vietnamese market and pledged to set a standard that supports the sustainable growth of K-beauty.
Going forward, YourPlanner Vina plans to expand its partnerships with major Vietnamese distribution chains and specialized wholesale networks, and gradually expand its K-beauty brand portfolio based on its official distribution system. With the recent rise in demand for K-beauty in Southeast Asian markets, including Vietnam, there is a growing trend of active entry strategies through local distribution partnerships and joint ventures.
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