The Body Shop opens first outlet in Vietnam
UK cosmetics store chain The Body Shop International last Friday opened its first outlet in Vietnam, marking its entrance into the growing Southeast Asian market of 86 million consumers. The first store, at 87, Mac Thi Buoi Street, District 1, Ho Chi Minh City is operated by The Body Shop Vietnam Co. Ltd, a branch of Malaysia-based Rampai - Niaga Sendirian Berhad, the franchise holder and owner of 52 The Body Shop outlets in Malaysia. “The cosmetics market in Vietnam, especially in major cities such as HCMC is enjoying robust growth,” Rampai - Niaga managing director Datin Mina Cheah-Foong said. “The locals’ incomes are increasing and they are willing to spend more on health and beauty care services.” “That’s the reason why we chose HCMC to be the home of our first outlet,” she said. The group is also planning to open three more outlets in Vietnam this year, Thoi Bao Kinh Te Sai Gon (Saigon Economic Times) newspaper reported. Founded in 1976, The Body Shop International is the second largest cosmetic franchise in the world with 2,500 stores in 60 countries and territories. The group offers more than 600 products ranging from cosmetics, accessories to skin and hair care solutions for both male and female consumers. Japan’s business daily Nikkei reported last year Vietnam’s burgeoning beauty and healthcare market earned an estimated US$120 million in sales in 2009, doubling sales for 2004. But up to 90 percent of the domestic market share for cosmetic products is in foreign hands, local cosmetics producers said at a meeting held last December in HCMC.
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