KUALA LUMPUR: Yap International Trading Sdn Bhd (YIT) plans to distribute beauty and hair care products from South Korea and achieve US$1 million in sales.
Today, YIT and South Korean beauty and hair care manufacturer Addi Global Inc signed a memorandum of understanding to distribute the products to beauty parlours, hair salon and personal grooming academies throughout Malaysia.
“We're appointing YIT to distribute some of our products brand named PACKAGE, MEDITIME, BARTERA, ARTHETUQUE and KONAD,” said Addi Global chief executive officer Shim Youn Bo.
YIT director Yap Khoon Kuan said he and Addi Global hopes to firm up the business-to-business (B2B) platform that will serve as a one-stop service hub for prospective clients of beauty products by mid-2019.
“Once we're able to launch this B2B platform by mid-2019, we hope to achieve sales of US$1 million by end-2019,” Yap said.
The signing ceremony was organised by Korea Trade-Investment Promotion Agency (KOTRA) with the strategic aim of enhancing bilateral trade and investment exchanges with Malaysia.
Currently, YIT is discussing with CJ Wow shop to launch a new product in two months. If TV shopping sales is good, Yap said his team will bring in more Korean cosmetics and beauty products to be retailed via CJ Wow shop.
Yap went on to say Addi Global and YIT have allocated US$100,000 for their advertisement and promotion activities.