Missha expands in Vietnam

Korean cosmetics retailer Missha has opened its 15th retail store in Vietnam.

The newest store, at Cach Mang Thang St in downtown Ho Chi Minh City, is located in a neighbourhood popular with tourists and locals.

Besides its focus on Vietnam’s most populous city, Missha is expanding in other Vietnamese cities. In April it opened in the holiday resort of Danang

Missha Korea has 1650 stores in 29 countries including about 110 in Southeast Asian markets including Indonesia, Thailand and Singapore.

The company says it sold US$570,000 worth of products in Vietnam in the first half of 2015, up 32.5 per cent on the same time last year.

The Korea Cosmetics Industry Institute predicts Vietnam’s cosmetics markets will grow by 17.5 per cent this year, making it the second fastest growing market in Asia, behind India.

“With Missha’s main items of makeup cosmetics, including mascaras and BB creams, we will accelerate the market invasion in Vietnam,” said Lee Kwang-sup, chief manager of Missha’s overseas business unit.

“As Missha has already been established as one of the most popular brands in the country, we will dominate the market in advance by actively expanding stores.”