Authorities put a stop to Aim Star direct sales

According to VCA, the company is completing the procedure to dissolve.

Aim Star Network Vietnam Ltd. is headquartered at 239 Xuan Thuy street, Cau Giay district, Hanoi. The legal representative is Thai national Panint Jhonlerkieat, who holds the position of managing director.

Aim Star Network sells cosmetics and personal care products. Besides Vietnam, it also operates in the US, Japan, Myanmar, Thailand, and Cambodia. Aim Star Network Vietnam received the license to conduct direct selling activities in November 2014.

Thai cosmetics and personal care products are very popular in Vietnam due to their reasonable price and high quality. In March, another Thai direct selling company, Giffarine Skyline Unity, which also sells cosmetics and personal care products, said that it was investing in a joint venture in Vietnam that would start operation by the end of 2016.

Talking to the Bangkok Post, Giffarine president Nalinee Paiboon said the company plans to hold 20 per cent of the joint venture, while the remaining 80 per cent will be owned by its partners, a group of Thai businessmen. In addition to Thai products’ popularity among Vietnamese consumers, Paiboon named the big population and the country’s high economic growth relative to other ASEAN countries as the reasons the company sees huge opportunities in direct sales in Vietnam.

Prior to Giffarine Skyline Unity, another Thai firm directly selling cosmetics and personal care products, Kangzen, set foot in Vietnam in 2014.

According to market research company Euromonitor, Amway Vietnam Ltd. was the leading player in direct selling in 2015 in Vietnam, with a 21 per cent market share. Amway has been preserving its superior position in the Vietnamese market since 2010.