Japanese drugstore operator Matsumotokiyoshi Holdings Co. on November 13 announced its plan to set up a joint venture in Vietnam.

With revenue of $2.35 billion in 2018 and an annual growth rate of 25-30 percent per annum, the Vietnamese market is highly attractive to foreign brands.

Modern Vietnamese who have high income are increasingly shopping online for cosmetics brands.

Vietnam’s cosmetics market is worth $2.3 billion, but domestic companies pocket only 10 percent of the value.

 VietNamNet Bridge – The number of Vietnamese cosmetics brands in the home market remains very modest. But the situation may get different in the future, as more investors plan to pour money into the sector.