Matsumoto Kiyoshi drugstore to set up JV in Vietnam

Nov 25, 2019Updated May 18, 20251 min read

Japanese drugstore operator Matsumoto Kiyoshi is to open stores in Vietnam in partnership with a local company, Lotus Food Group.

The two parties have formed a joint venture, Matsumoto Kiyoshi Vietnam JSC, to operate a drugstore chain under the name MatsuKiyo in Vietnam. In Japan, Matsumotokiyoshi operates stores under the banner Matsumoto Kiyoshi.

According to a statement by Matsumotokiyoshi, a JV company has been set up with a capital of US$1.36 million, 51-per-cent owned by Matsumotokiyoshi, 48.87 percent by Lotus Food Group and 0.13 percent owned by Le Van May, the president and CEO of Lotus.

After its successful expansion in Thailand, Matsumotokiyoshi chose Vietnam as its next Southeast Asian destination, hoping to strengthen its presence further in the region.

The brand now has 34 stores across Thailand, five in Taiwan and is planning to open in Hong Kong in the near future.

The first MatsuKiyo store’s location and an opening date has yet to be disclosed.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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