RS LiveWell and OCBFF Corporation in MOU to Penetrate the Philippine Market
Introduction
News recently surfaced from our source that RS LiveWell, a member of the RS Group, known for its groundbreaking work in the health and beauty industry, has signed a memorandum of understanding (MOU) with the OCBFF Corporation Company Limited. This esteemed distributor from the Philippines will be entering into a joint venture with the powerhouse company to distribute Thai health and beauty products in the Philippines through a combination of modern trade stores and e-commerce platforms.
The Promise of a Booming Market
The Philippines market brims with potential for the health and beauty sectors and this initiative intends to tap it. Our source informs that the timeline for setup completion is by the third quarter of the present year, with revenue projections of up to 300 million baht in its first operation year.
The Investing Entities
RS LiveWell will hold 51% of the venture. The company is celebrated for the superior quality of its products registered internationally and crowned with awards, for example, the vitanature+.The remaining 49% will be invested by OCBFF Corporation. This company has commendable marketing and distribution skills, particularly in the realms of health and beauty.
Objectives of the Joint Venture
This partnership has a clear vision to cater to the diverse needs of the Filipino consumers ranging across generations from Gen Z to Gen X. They plan to offer an assortment of products including:
- Food Supplements
- Premium Haircare Products
- Personal Care Items
Aftermath of the joint initiative
In conclusion, the joint initiative represents a strategic move that enhances the strength of Thai brands in the Philippines’ market. They aim to leverage the abundant growth potential that the local market promises. Stay tuned for more exclusive updates from our trusted source on this groundbreaking joint venture.
