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Matsumoto Kiyoshi & Lotus Food to open pharma and cosmetics chain

Released at: 14:18, 18/12/2019

Matsumoto Kiyoshi & Lotus Food to open pharma and cosmetics chain

Photo: Khanh Chi (VET)

Two form joint venture to develop Japanese-standard healthcare and beauty store chain.

by Hong Nhung

Japan’s Matsumoto Kiyoshi Holdings Group and its Vietnamese partner the Lotus Food Group signed a joint venture agreement on December 16 to establish the Matsumoto Kiyoshi Vietnam Joint Venture Company, effective from next March.

The first Matsumoto Kiyoshi flagship store in Vietnam is expected to open at the end of March, followed by ten to 15 others over the next three to five years. From there, a network of hundreds of stores will soon appear, meeting growing demand for health and beauty care from millions of Vietnamese people.

In order to ensure a secure and comfortable shopping experience, Matsumoto Kiyoshi conducted research and consumer interviews to customize store designs with signature features suited to local customers instead of applying concepts from Japan or elsewhere.

Both sides will use the other’s advantages to quickly expand the Matsumoto Kiyoshi chain in Vietnam, bringing safe and premium Japanese-standard products to domestic consumers.

Matsumoto Kiyoshi Holdings has years of experience in pharmaceutical and cosmetics distribution and owns Japan’s largest retail network. The Lotus Food Group, meanwhile, owns a distribution and retail network covering 61 of Vietnam’s 63 cities and provinces, possessing advantages in understanding local demand, tastes and preferences.

Matsumoto Kiyoshi stores in Vietnam will focus on key products such as famous cosmetics, health supplements, functional foods, and self-care brands from Japan and the world. They will also offer Vietnamese consumers exclusive product lines from brands only found at Matsumoto Kiyoshi, such as Blanc White, Argelan, and others.

A representative from Matsumoto Kiyoshi said that besides selling products, the company also aims to promote a healthy Japanese lifestyle in Vietnam through attentive services and dedicated advice from staff trained under Japanese standards. “Matsumoto Kiyoshi will become a store chain that Vietnamese consumers will wish to visit once a week to find selective healthcare and beauty products at affordable prices,” he said.

“Vietnamese consumers have been very fond of Japanese goods for a long time, especially healthcare and beauty products,” said Ms. La Van May, Founder of the Lotus Group. “Many Vietnamese tourists have travelled to the ‘Land of the Rising Sun’ to buy cosmetics or supplements for themselves or as gifts.”

According to Mintel, a global market research firm based in London, Vietnam’s cosmetics market was worth approximately $2.3 billion at the end of 2018, though it still mainly operated via traditional retail models, which creates space for other modern models. Japanese products in particular have plenty of opportunities, as they account for 17 per cent of foreign cosmetics sales in Vietnam, ranking third after South Korea and the EU.

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