QNET Opens Office In Vietnam
The company, which uses an e-commerce platform, hopes to gain a strong foothold in one of the region's fastest growing markets.
QNET firmly believes the direct selling market in Vietnam -- which posted a 12 percent increase in retail sales last year -- offers tremendous potential for growth.
According to the World Federation of Direct Selling Associations (WFDSA), global retail sales from direct selling in 2012 grew 5.4 percent, year-on-year, rising to US$166.9 billion. Of this figure, the Asia Pacific region's share was 44 percent. Vietnam ranked 14th in Asia, with total retail sales of US$292 million.
"Looking at these figures, I project a 30-percent increase in the direct selling business worldwide over the next year," said Dave Osh, QNET's Chief Executive Officer. "QNET wants to help Vietnam play a leading role in this dramatic economic growth."
QNET's new office is located in the heart of Ho Chi Minh City's business district, to serve the growing regional market and to meet the increasing demands of its Vietnamese customers. Vietnam is the eighth Asian country where QNET has established corporate offices.
The Ho Chi Minh City office will act as the main support centre for QNET in Vietnam and also help raise the profile of its business in neighboring Cambodia and Laos. It will serve as a customer service centre and provide training for QNET's IRs.
"A huge number of potential customers, along with a familiarity with the direct selling industry, make Vietnam a very attractive market for QNET. And the existence of a well-established legal and regulatory framework for direct selling companies is a big bonus," added Osh.
QNET sells a variety of exclusive lifestyle and wellness products to enhance the lives of its customers around the world. Its range of products includes personal care products, jewellery, holiday packages, weight management products and online educational courses.
"Our goal is to become the number-1 direct selling company in Vietnam. There is nothing more empowering to individuals than the financial freedom that a career in the direct selling industry provides, and we believe Vietnamese people, with their ambition and strong sense of entrepreneurship, will appreciate the products we sell and the business opportunities that QNET provides," Osh said.
QNET Vietnam expects to play a key role with the Amcham Vietnam Direct Selling Committee, which regulates the local industry. The direct selling industry is projected to contribute significantly to Vietnam's national economy in the coming years.
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