Vietnam presents tremendous opportunities for foreign beauty brands

Several beauty brands are eager to tap into the booming Vietnamese market as consumers are increasingly becoming beauty-conscious.

Vietnam’s beauty market booming with new brands

Vietnam’s beauty industry is lucrative market

Vietnam’s beauty industry targets Cambodia, Myanmar 

Vietnam presents tremendous opportunities for foreign beauty brands
With the continued growth of the beauty market, Vietnam has become a darling of foreign beauty brands

According to Kantar Worldpanel Vietnam, the beauty world is refreshed with new trends every day and so is Vietnam. Thanks to higher purchasing power, Vietnamese shoppers are adopting more beauty products, making their beauty regime more and more sophisticated. On top of that, the rise of self-consciousness is happening within all of us, regardless of gender. This strongly affirms that BEAUTY is for ALL.

Cosmobeauté Vietnam, a beauty trade exhibition held in Ho Chi Minh City last week, has attracted around 200 exhibitors from 10 countries and territories to explore the potential of the Vietnamese market.

With the continued growth of the beauty market, the expo has paved the way for professionals such as beauticians, aestheticians, and manicure technicians, as well as business owners of spas, beauty retailers, and distributors to start their business in Vietnam's beauty industry.

Cosmobeauté Vietnam also features the latest salon equipment and supplies, hair care, aesthetic treatment machines, personal care products, cosmetics, product packing, and more from the world’s trendiest beauty markets.

 

Apart from the exhibition, Cosmobeauté Vietnam also hosted several events to spur learning and creativity, such as the “Look & Learn with Steven Sunny” stage event, in which Malaysia’s celebrity make-up artist Steven Sunny appeared on stage to conduct step-by-step make up tutorials for the audience.

In addition, there was the Beaute Meeting Programme, which pre-arranged business meetings between exhibitors and potential buyers and investors in advance. The previous edition of Beaute Meeting successfully arranged over 140 meetings between buyers and exhibitors.

Indeed, beauty is one of the fastest growing sectors in Vietnam thanks to rising consumer demand and increased levels of disposable income. Market research and business intelligence provider Statista found that revenue in the domestic cosmetics and personal care market amounted to $1.62 billion in 2018. The market is expected to grow with an annual growth rate of 8.6 per cent between 2018 and 2021, with the largest segment being skin care, which held a market volume of $595 million in 2018.

Vietnam presents tremendous opportunities for foreign beauty brands

Thailand’s Central Group Vietnam has recently opened a new Hello Beauty store at Big C Di An supermarket in Binh Duong Province, making it the first of its stores in southern Vietnam, dedicated to selling health and beauty products.

Meanwhile, Watsons, the leading health and beauty brand in Asia and Eastern Europe, also launched its first store at Ho Chi Minh City's Bitexco Tower in January, marking its official entry to Vietnam.

There is no doubt that Vietnam has become a darling for foreign beauty brands. The per capita amount spent on beauty remains low in comparison with neighbouring countries like Thailand or China. The strong development of a young Vietnamese middle-class gives a good potential for brands that bring high-quality and innovative products to consumers, and for brands who know how to engage digitally with both men and women. VIR

 
 

Other News

.
Tax policies for property sector must be carefully studied: finance ministry
Tax policies for property sector must be carefully studied: finance ministry
BUSINESSicon  06/05/2021 

Tax policies for the real estate sector must be carefully studied and introduced at the appropriate time to ensure feasibility and limit speculation, according to the Ministry of Finance.

PAN Group entrusted with protection of ST24 and ST25 rice trademarks in int'l markets
PAN Group entrusted with protection of ST24 and ST25 rice trademarks in int'l markets
BUSINESSicon  06/05/2021 

The PAN Group has been authorised to register ownership rights for the ST24 and ST25 rice varieties in foreign markets and protect related trademarks.

Trademark trickery blurs rice status
Trademark trickery blurs rice status
BUSINESSicon  06/05/2021 

Unlike regional competition, Vietnamese branding approaches of well-established rice varieties could still see some improvements because of existing ambiguities in the product development strategies of the responsible government agencies.

Tech-led foundation crucial in e-commerce
Tech-led foundation crucial in e-commerce
BUSINESSicon  06/05/2021 

Vietnam’s e-commerce development is a bright spot for Industry 4.0 with a high growth rate of 20-30 per cent.

Business health to come first in future wage date changes
Business health to come first in future wage date changes
BUSINESSicon  06/05/2021 

In addition to recommending against an increase in wages this year, many experts and businesses have also opposed proposals to change the timing of regional minimum wage changes from January 1 to July 

GDVC licenses Hateco Group’s customs clearance site for post and courier items
GDVC licenses Hateco Group’s customs clearance site for post and courier items
BUSINESSicon  06/05/2021 

The General Department of Vietnam Customs has issued Decision No.1189/QD-TCHQ to grant an operational license for the customs clearance site for post and courier items of Hateco Group. The site is located in Long Bien Inland Clearance Depot in Hanoi.

Value sharing and opportunities for Vietnamese suppliers in global value chain
Value sharing and opportunities for Vietnamese suppliers in global value chain
BUSINESSicon  06/05/2021 

Multinationals corporations and foreign-invested enterprises increasingly focus on sustainability in their cooperation with local suppliers, 

BOT investors face debt, heavy losses for massive loans
BOT investors face debt, heavy losses for massive loans
BUSINESSicon  06/05/2021 

Build-operate-transfer (BOT) investors are falling into a debt trap and incurring heavy losses due to a decline in the toll fee collection, 

Natural island estate attracts foreign investors
Natural island estate attracts foreign investors
BUSINESSicon  05/05/2021 

Not only attracting domestic customers, residential areas on natural islands also attract overseas Vietnamese and foreign investors thanks to convenient, classy and private ecological living spaces.

VIETNAM BUSINESS NEWS MAY 6
VIETNAM BUSINESS NEWS MAY 6
BUSINESSicon  06/05/2021 

Vietnam’s production rises at fastest pace since Nov 2018

Samsung Vietnam wants to buy renewable energy directly from producers
Samsung Vietnam wants to buy renewable energy directly from producers
BUSINESSicon  05/05/2021 

Samsung Vietnam has asked the government for a renewable energy pilot project that will enable the company to buy electricity directly from producers, instead of through the monopoly distributor Vietnam Electricity.

UCC coffee quality contest aims at supporting VN coffee production and farmers
UCC coffee quality contest aims at supporting VN coffee production and farmers
BUSINESSicon  06/05/2021 

Through the annual UCC Coffee Quality Contest, UCC Group has been contributing to promoting and improving the quality of Vietnamese coffee, towards the goal of sustainable development.

Securities firms set high profit targets for 2021 on positive stock market
Securities firms set high profit targets for 2021 on positive stock market
BUSINESSicon  05/05/2021 

As the market benchmark VN-Index broke the psychological level of 1,200 points, along with many positive outlooks about the market, securities firms set big growth targets for 2021.

Vietnam Trade Office working to protect rice trademark in Australia
Vietnam Trade Office working to protect rice trademark in Australia
BUSINESSicon  05/05/2021 

The Vietnam Trade Office in Australia has said it has taken measures to protect Vietnamese rice trademarks after an Australian firm registered for trademark protection of rice varieties ST24 and ST25.

Copper production at the country’s largest mine
Copper production at the country’s largest mine
BUSINESSicon  05/05/2021 

During the holidays, workers at Sin Quyen and Tang Loong copper smelting factory in Lao Cai have still been on duty to manufacture and provide tonnes of 99.9% purity copper for electrical appliance production factories across the country.

Development of agri-food sector needs untying knots in mechanisms
Development of agri-food sector needs untying knots in mechanisms
BUSINESSicon  04/05/2021 

The agri-food industry has been maintaining high resistance to the Covid-19 pandemic, with the potential to boost economic recovery. It posted a growth of 4 percent in 2020, equivalent to a gross domestic product (GDP) contribution of US$3.7 billion.

Some 430 businesses leave market every day in Jan-Apr
Some 430 businesses leave market every day in Jan-Apr
BUSINESSicon  04/05/2021 

Some 430 businesses left the market, while only 368 new businesses were established on a daily basis from January to April 2021, according to the Ministry of Planning and Investment.

'Land fever' harming the economy: experts
'Land fever' harming the economy: experts
FEATUREicon  06/05/2021 

Realtors typically seek profits by developing the investment value of land, rather than by increasing land prices.

Vietnamese strategy: overcoming the pandemic, maintaining high economic growth
Vietnamese strategy: overcoming the pandemic, maintaining high economic growth
FEATUREicon  05/05/2021 

Vietnam’s economy is witnessing an impressive rebound and is expected to be among the best recovering economies in the world despite Covid-19 resurgence in neighboring countries.

Construction Ministry to cool down real estate market, prioritize affordable housing
Construction Ministry to cool down real estate market, prioritize affordable housing
BUSINESSicon  04/05/2021 

Minister of Construction Nguyen Thanh Nghi said the ministry will change the policies related to the development of affordable housing by adopting a new mindset.

 
 
 
Leave your comment on an article

OR QUICK LOGIN