MoIT warns against multi-level sales of Atomy products
MoIT warns against multi-level sales of Atomy products
The Department of Competition and Consumer Protection under the Ministry of Industry and Trade (MoIT) has warned against the unlicenced multi-level sales of Atomy products by organisations and individuals.
Some websites and social networks are trading many functional foods and cosmetics branded Atomy. Many individuals have purchased directly through these channels and are invited to become collaborators or distributors to earn commissions based on the sales volume of the subordinate network.
Most of the advertisements on these channels mention that Atomy is a multi-level trading company based in the Republic of Korea, which reportedly earned a global revenue of US$751 million in 2016.
According to Atomy’s social network website, the brand’s mission in Viet Nam is to “rewrite the ugly definition of multi-level trading.” Consumers are not charged any fee and are required to purchase just once a year to maintain the account, with the cheapest rate being less than VND100,000 (US$4.37). The brand said it is currently completing registration procedures and is expected to officially operate in the Vietnamese market from October this year.
However, the department affirmed that it did not receive any information or registration document for multi-level trading activities from any company owning products or brand called Atomy.
To avoid material and legal risks, the department has advised organisations and individuals not to participate in the multi-level business network in Viet Nam at this time, said a representative of the department.
