The Invention Lab announced on the 13th that it has formed a partnership with Lifevitamin, a health functional food startup, and C-LAPS, a Vietnam-based marketing firm, to expand into the Vietnamese healthcare market.  

Through this partnership, The Invention Lab aims to strengthen Lifevitamin’s entry into Vietnam by supporting initial and follow-up investments, facilitating open innovation with local conglomerates, and driving market expansion. C-LAPS, a specialized marketing company in Vietnam, will handle Lifevitamin’s local marketing efforts and take charge of establishing and managing online distribution channels and pop-up stores.  

As an early-stage investment by The Invention Lab, Lifevitamin has established itself as a cost-effective health functional food brand in South Korea. With stable annual revenue growth and consistent breakeven point achievements, the company has built a solid financial foundation. However, recognizing that leveraging its proven success strategies overseas would be more effective for accelerating growth, Lifevitamin has designated 2025 as the start of its global expansion, with Vietnam as its first target market.  

Despite the global economic downturn, Vietnam continues to show strong potential, achieving a 7% economic growth rate in 2024. The rapid expansion of e-commerce following the COVID-19 pandemic has further fueled the growth of its consumer market. Additionally, Vietnamese consumers have demonstrated a clear preference for Korean beauty, fashion, and food brands, which continue to dominate their respective sectors.  

The health functional food market is also seeing a shift in preference from Japanese and European brands to Korean brands. With its strong value-for-money positioning, Lifevitamin is well-positioned to attract a wide range of consumers, from young students to the elderly.  

Jinyoung Kim, CEO of The Invention Lab, stated, “Vietnam should be approached as a consumer-driven market, and Korean companies have significant opportunities, especially in essential sectors like food, clothing, and housing. However, given Vietnam’s relatively lower purchasing power, startups like Lifevitamin—offering affordable products and making agile decisions—are likely to establish themselves in the market more quickly.”  

Lifevitamin plans to open a pop-up store in a major shopping mall in Ho Chi Minh City by March, with official online sales set to launch in April.