Sephora makes Vietnam debut
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Beauty retailer Sephora has entered the Vietnamese market with a dedicated ecommerce store after an initial trial period of five months.
Local customers can now buy directly from Sephora online, but there is no word yet on whether the global brand will open a physical store.
About 90% of Vietnam’s cosmetics market is filled with foreign brands, led by South Korean products and followed by European and Japanese names. Market revenue, on the other hand, is pegged at US$514 million.
Sephora enhanced its Asian presence in 2019 with debuts in South Korea, Hong Kong, and New Zealand. It now has 200 stores in 16 Asian countries.
Questions & Answers
Q.How long was Sephora's trial period in Vietnam before launching its dedicated e-commerce store?
How long was Sephora's trial period in Vietnam before launching its dedicated e-commerce store?
Sephora conducted an initial trial period of five months before officially launching its dedicated e-commerce store in the Vietnamese market. Local customers can now directly purchase products online from the retailer.
Q.Are there plans for Sephora to open physical stores in Vietnam?
Are there plans for Sephora to open physical stores in Vietnam?
The article does not indicate any current plans for Sephora to open a physical store in Vietnam. Its entry into the market is currently limited to a dedicated e-commerce platform.
Q.How large is Vietnam's cosmetics market, and which brands dominate it?
How large is Vietnam's cosmetics market, and which brands dominate it?
Vietnam's cosmetics market revenue is estimated at US$514 million, with foreign brands making up about 90% of the market. South Korean products lead, followed by European and Japanese brands.