Baemin, the South Korean food delivery firm, has announced its departure from the Vietnamese market, effective from December 8.
The impairment of Baemin in the food delivery sector may open a new opportunity for the current players to conquer to gain the remaining market share.
Baemin Vietnam is allegedly reducing its scale and staff in Vietnam, pointing to the intense and unprofitable market conditions in a region brimming with high consumer expectations and fierce competition.
After more than three months since its launch, and having approached users through the BAEMIN app, the Lazy Bee beauty brand has been introduced on different e-commerce platforms and can also be found at Vietnam’s Guardian stores nationwide.
BAEMIN signed a partnership agreement with Selex Motors on April 25 to pilot an electric-motorcycle scheme for the online food-delivery service.
BAEMIN launched its first beauty brand, Lazy Bee, on April 21, aiming to provide optimal beauty solutions in quality, safety, and convenience for customers.
Thanks to Vietnam's rapid growth, emerging modern infrastructure, and user readiness, BAEMIN Vietnam's CEO is upbeat about the potential of the country's food delivery market compared to other countries in the region.
BAEMIN application signed the cooperation agreement with SERVEONE Vietnam to launch B2B Mall initiative "Bách hóa BAEMIN" to provide environmentally friendly packaging products to merchant partners.
To mark the new year, business leaders share their stories about how their businesses have overcome a challenging 2022, as well as their development plans and expectations for the next 12 months and beyond in Vietnam.
Baemin Vietnam has stepped up its efforts to promote sustainable development in the online food delivery market in Vietnam.
BAEMIN Vietnam application has officially partnered with Shinhan Bank to launch a co-branded credit card named "Gourmet Member" with a credit limit of VND100 million (about $4,000).
After just 3 years of operation in Vietnam, BAEMIN has been recognised by the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade as one of the five leading enterprises providing e-commerce services in the market.
As an application striving to empower people to lead positive and sustainable lifestyles, BAEMIN has collaborated with secondhand fashion app Piktina to organise the clothes exchange day Dare 2 Rewear on August 9.
In order to become a pioneer in reducing plastic waste and using eco-friendly materials in food delivery services, BAEMIN Vietnam is applying new methods in the name of sustainable development. Jinwoo Song, CEO of BAEMIN Vietnam, told VIR’s Hara Nguyen more about raising awareness on this issue.
Plastic waste is a growing menace that urges relevant businesses to act and work together in the ultimate hope of thriving sustainably. At the talk show Plastic Reduction Initiatives in Retail & Services hosted by VIR on June 22, Jinwoo Song, CEO of BAEMIN Vietnam unveiled some insights into the overall environmental impacts caused by the food delivery industry as well as highlighted BAEMIN’s initiatives to promote eco-friendly practices across its ecosystem.