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|Matsumoto Kiyoshi Holdings inked a deal with Lotus Food Group to launch the first Japanese drug and cosmetics chain in Vietnam|
The information was shared at the signing ceremony between Matsumoto Kiyoshi Holdings Group and Lotus Food Group from Vietnam to establish Matsumoto Kiyoshi Vietnam Joint Venture Company today (December 16). From there, a network of hundreds of stores will appear soon, meeting the growing demand for health and beauty care from millions of Vietnamese people.
In order to ensure a secure and comfortable shopping experience, Matsumoto Kiyoshi has conducted extensive research and numerous consumer interviews to customise store designs and adjusting its signature features to Vietnamese customers, instead of applying its tried-and-tested store concepts from Japan or other markets.
The key products on sale at Matsumoto Kiyoshi stores include Japanese and world-famous cosmetics, health supplements, functional foods, and self-care brands. Especially, the chain also offers Vietnamese consumers exclusive product lines from brands that can only be found in Matsumoto Kiyoshi such as Blanc White or Argelan. These are the two product lines that were studied and developed by Japanese experts, refined from the best organic materials, and developed through modern technologies with the understanding of the demands, tastes, and preferences of Asian demographics.
A representative of Matsumoto Kiyoshi shared that, besides selling products, the company also aims to promote the Japanese healthy lifestyle in Vietnam through attentive service and dedicated advice from staff who are also trained to Japanese standards.
“Matsumoto Kiyoshi will become the store chain that Vietnamese consumers would like to visit once a week to find selective healthcare and beauty products at affordable prices,” the group representative shared.
According to Mintel – a global market research firm based in London (UK) – Vietnam’s cosmetics market was worth approximately $2.3 billion by the end of 2018. Although it is still mainly operated through traditional retail models, there is ample room for other modern business models. Japanese products, in particular, have plenty of opportunities, as they account for 17 per cent of foreign cosmetics sales in Vietnam, ranking the third after South Korea and the EU.