A Matsumoto Kiyoshi store in Japan (Source: japantravel.com)HCM City (VNA) – The firstflagship store of Japan’s Matsumoto Kiyoshi cosmetics and drugstore chain isset to open in Vietnam late March.
The information was revealed during asigning ceremony on December 16 between Vietnam’s Lotus Food Group and Japan’sMatsumoto Kiyoshi Holdings to set up the Matsumoto Kiyoshi Vietnam jointventure.
The cosmetics and drugstore chain inVietnam is expected to meet Japanese standards in the next 3-5 years, with hundredsstores across the country.
Established in 1932, Matsumoto Kiyoshi is afamous Japanese drugstore chain that boasts a massive selection of goods,including medicine, makeup, cosmetics, mouth hygiene products, supplements,among others.
Meanwhile, Lotus Food Group boasts adistribution network reaching almost all of the 63 Vietnamese localities.
According to UK-based Mintel marketintelligence agency, Vietnam’s cosmetics market valued about 2.3 billion USD asof 2018, but mostly in traditional retail.
Furthermore, data show that Vietnamesetourists have huge demand for Japan’s cosmetics and dietary supplements whilevisiting Japan.
Japanese products currently account for 17percent of foreign cosmetics’ sales in Vietnam, following those from theRepublic of Korea and Europe./.
The information was revealed during asigning ceremony on December 16 between Vietnam’s Lotus Food Group and Japan’sMatsumoto Kiyoshi Holdings to set up the Matsumoto Kiyoshi Vietnam jointventure.
The cosmetics and drugstore chain inVietnam is expected to meet Japanese standards in the next 3-5 years, with hundredsstores across the country.
Established in 1932, Matsumoto Kiyoshi is afamous Japanese drugstore chain that boasts a massive selection of goods,including medicine, makeup, cosmetics, mouth hygiene products, supplements,among others.
Meanwhile, Lotus Food Group boasts adistribution network reaching almost all of the 63 Vietnamese localities.
According to UK-based Mintel marketintelligence agency, Vietnam’s cosmetics market valued about 2.3 billion USD asof 2018, but mostly in traditional retail.
Furthermore, data show that Vietnamesetourists have huge demand for Japan’s cosmetics and dietary supplements whilevisiting Japan.
Japanese products currently account for 17percent of foreign cosmetics’ sales in Vietnam, following those from theRepublic of Korea and Europe./.
VNA
