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Discover Ludwig'launch party' is correct and usable in written English.
You can use it to refer to a celebration for the release of a new product, service, or event, such as a book, film, concert, or website. For example, "We hosted a big launch party for the release of our new online store."
Dictionary
launch party
noun
An event to coincide with the commercial release of a product
Exact(60)
"Launch party," she said.
The launch party was memorable.
There's a launch party tonight.
To celebrate, she's hosting a launch party.
"You'll have the best launch party EVER.
The launch party was hot and hormonal.
It was at its launch party that Hughes met Plath.
A launch party here for Fabric's latest mix CD.
It was an extravagant launch party with all the trimmings.
"Kit even went to the launch party for the website last week".
6Toys play an album launch party at The Magnet in Liverpool on 13 November.
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