A patent application has been filed in Vietnam

Dilan Mirror Team

We continue to scale our company by submitting patent applications to the dynamically developing economies of the world. One of these countries is Vietnam, known for its rapid economic growth and strategically advantageous geographical location. This is an interesting and promising direction for the development of our Dilan Mirror project.

The document can be viewed at the link - https://drive.google.com/drive/folders/1JAXLxL-6UZ2dcKws_Xab-h7f1jC8P5rA?usp=drive_link

The Dilan Mirror company has created a super mirror in which you can see yourself from the front and from the back. This is very convenient and solves a long-overdue problem for many people: in fitting rooms, fitness centers, gyms and dance studios, where it is important to see yourself from all sides.

Now Dilan Mirror is preparing for the start of mass production and sales, so good preparation, including intellectual property protection, is extremely important for the company and partners.

Why Vietnam?

Market overview for innovative Dilan Mirror mirrors

Population: about 98 million people (2023).

Economic growth: Vietnam has one of the highest economic growth rates in the world. In 2023, GDP growth was about 7%. Stable growth has been observed over the past two decades, with GDP increasing by an average of 6-7% per year.

Manufacturing Center: Vietnam is an important manufacturing center, especially in industries such as electronics, textiles and footwear. The country is one of the world's largest manufacturers of smartphones and clothing.

World trade: Exports reached $336 billion in 2022. The main export products are electronics, textiles, shoes, fish and seafood, coffee, rice.

Trade agreements: Vietnam has concluded numerous free trade agreements with the EU (EVFTA), the UK and the CPTPP countries, which demonstrates the country's desire to cooperate with various foreign companies. Foreign investment: In 2022, the volume of FDI reached $20.4 billion. The country is attractive to investors due to competitive labor costs, a stable political environment and favorable business conditions.

Economic situation: Vietnam ranks 37th in the world in terms of GDP, making it one of the largest economies in Southeast Asia. Vietnam is expected to become one of the 20 largest economies in the world in the future.

Membership in international organizations: Vietnam is a member of the WTO, ASEAN and other international economic organizations.

Vietnam occupies a significant place in the global economy due to rapid economic growth, active trade and attracting foreign investment. The country continues to integrate into the global economic system, concluding numerous trade agreements and developing production facilities.

Retail trade:

Retail trade turnover in 2023**: about $240 billion, which shows an increase of 10% compared to the previous year. Innovative products: The market is open to new technologies and innovative solutions, especially in the smart home and consumer electronics segments.

The market of beauty salons, fitness studios, gyms and retail stores in Vietnam:

Beauty salons:

1. Number of beauty salons: As of 2023, there are about 25,000 beauty salons in Vietnam. The annual growth of the market is about 8-10%;

2. Development dynamics: Since 2018, the number of beauty salons has increased by 35%. The Vietnamese cosmetic services market is estimated at $2.3 billion in 2023.

Fitness studios and gyms:

1. Number of fitness studios and gyms: There are about 2,500 fitness studios and gyms in Vietnam. The fitness services market is growing by 15% per year;

2. Development dynamics: Since 2017, the number of fitness studios and gyms has increased by 50%. The fitness services market is expected to reach $0.8 billion by 2025;

Retail stores:

1. Number of retail stores: There are more than 1.3 million retail stores in Vietnam, including department stores, supermarkets and small shops. The number of retail stores is growing by 12 annually%;

2. Dynamics of development: The retail market in Vietnam grew by 10% in 2022, reaching $210 billion.

By 2025, the market is expected to reach $280 billion.

Prospects of working in the Vietnamese market:

1. High demand for innovation:

Vietnam is increasingly interested in new technologies and innovative products. Dilan Mirror super mirrors can attract the attention of both beauty salon and fitness center customers;

2. A rapidly growing market:

The growing number of beauty salons and fitness studios creates favorable conditions for the promotion of our products. The steady growth of retail trade also contributes to the successful implementation of innovations;

3. Potential customers:

The main clients can be beauty salons and fitness studios, striving to offer their clients unique and modern services. Retail stores can use super mirrors to attract customers and improve the customer experience;

4. Target audience:

- Middle class: A fast-growing middle class that strives to improve the quality of life and comfort. By 2030, Vietnam's middle class is expected to make up more than 35% of the population;

- Youth: A high proportion of the young population (about 50% under the age of 30) who actively use technology and strive for innovations.

Why will our company be successful here?

1. Comfort and convenience: The innovative Dilan Mirror mirrors offer a unique opportunity to see yourself from the front and back at the same time, which is especially useful for beauty salons, fitness centers, the fashion industry, and for ordinary people in homes;

2. Technology and style: Our mirrors are equipped with advanced technology and stylish design, which attracts a modern audience seeking technological innovations and aesthetics;

3. Time saving: The ability to see yourself from all sides allows you to save time on fitting clothes, styling hair and makeup, creating images as well.

Our advantages:

1. Uniqueness: there are no analogues of our products on the market, which gives us a competitive advantage;

2. Quality: High quality products and patented technology guarantee long service life and customer satisfaction;

3. Comfort: According to a McKinsey study, more than 70% of consumers are willing to pay more for products that improve their daily comfort and convenience.

Possible options for promoting our products in Vietnam:

1. Advertising campaigns: Facebook Instagram, TikTok, TV and radio, as well as through outdoor advertising. Launch large-scale advertising campaigns on social networks (Facebook, Instagram, TikTok), on television and radio. For example, Facebook has about 65 million active users in Vietnam;

2. Influencers: Collaborate with local influencers and celebrities to promote products and create a positive brand image. Research shows that about 85% of young people trust the recommendations of influencers;

3. Exhibitions and Demonstrations: Participation in major exhibitions and demonstrations of technology and home appliances such as Vietnam Expo and Vietnam International Electronics & Smart Appliances Expo.

Sales and distribution:

1. Online sales: Creation of localized websites and social media pages with the possibility of online ordering and delivery. Vietnam's online market was estimated at $13 billion in 2023;

2. Retail Partnerships: Cooperation with large retail chains (Co.opmart, VinMart) and specialty stores of electronics and home appliances;

3. Salon partnerships: Direct sales and installation of mirrors in beauty salons, fitness centers.

Advantages of patenting:

1) Intellectual property protection: Patenting innovative technology in Vietnam provides protection against copying and competition.

2)Strengthening the brand: The presence of a patent increases consumer confidence and strengthens the position in the market.

The patenting process:

1. Application preparation: preparation and filing of a patent application with a detailed description of the technology and its unique features;

2. Examination: formal examination and substantive examination, during which the novelty and patentability of the invention are checked;

3. Obtaining a patent: upon successful completion of the examination, a patent is issued that is valid on the territory of Vietnam.

WIPO: World Intellectual Property Organization provides information about patent applications and patent status;

NOIP: Vietnam's National Intellectual Property Office (NOIP) is responsible for patenting and protecting intellectual property;

Entering the Vietnamese market with innovative Dilan Mirror mirrors has significant potential due to the growing demand for technology and improved quality of life. The use of promotion strategies focused on local market features and audience needs, as well as patent protection of innovations, create a solid foundation for successful business development in this country.