Missha expands in Vietnam
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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.”
Questions & Answers
Q.Where is Missha's newest store in Vietnam located?
Where is Missha's newest store in Vietnam located?
The new Missha store is located on Cach Mang Thang St in downtown Ho Chi Minh City. This neighbourhood is known for being popular with both tourists and local residents.
Q.How many Missha stores are there in Southeast Asian markets currently?
How many Missha stores are there in Southeast Asian markets currently?
Missha has approximately 110 stores across various Southeast Asian markets. These markets include Indonesia, Thailand, and Singapore, in addition to its presence in Vietnam.
Q.What is the predicted growth rate for Vietnam's cosmetics market this year?
What is the predicted growth rate for Vietnam's cosmetics market this year?
The Korea Cosmetics Industry Institute predicts Vietnam's cosmetics market will grow by 17.5 per cent this year. This makes it the second fastest-growing market in Asia.
Q.What was Missha's sales value in Vietnam during the first half of 2015?
What was Missha's sales value in Vietnam during the first half of 2015?
Missha sold products worth US$570,000 in Vietnam during the first six months of 2015. This figure represents a 32.5 per cent increase compared to the same period in the previous year.
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