Baemin, a leading South Korean food delivery company, is stepping into the Vietnamese cosmetics market with its new beauty brand, Lazy Bee. The collection features two product lines, skincare and makeup, tailored to Vietnamese skin characteristics and daily care needs. The CEO of Baemin Vietnam, Jinwoo Song, stated that Lazy Bee was conceptualised in 2021, and was researched, produced, and manufactured in South Korea.
Local sources revealed that the beauty line would initially only be available on the Baemin app to raise awareness of the new product line. However, the brand plans to diversify its distribution channels and expand into other cities such as Hanoi and Da Nang in the coming months.
Baemin, which launched in Vietnam in 2019, has experienced tremendous success, with its revenue in the country increasing by 484% in 2020, making it one of the most prominent delivery applications in Vietnam. According to Statista, Baemin has had the most significant revenue increase rate among online food delivery applications in the country.
Baemin’s venture into the Vietnamese cosmetics market is a bold move, indicating the company’s willingness to expand its product offerings and provide diverse services to its growing customer base.