Nars opens first Vietnam store in Ho Chi Minh City
Japan's Nars cosmetics has opened its first Vietnam store, setting up shop in Ho Chi Minh City.
Securing a tenancy along the Vietnamese capital's Dong Khoi Street inside the Vincom Center mall, the Shiseido-owned Nars offers the Asian brand's complete makeup selection and collections to local customers.
Nars brand president, Barbara Calcagni told local media that the new store comes at a time when Vietnam's cosmetic market is on the rise.
“Vietnam is a potential market for growth thanks to the rapid development of the country,” said Calcagni, in a statement.
The Vietnamese beauty market saw stable growth last year, with a year-on-year increase of 4%, and is expected to thrive in the years to come, according to a recent Kantar Worldpanel report on the national cosmetics sector. About 20 million women aged 15 to 39, or 40% of the female population, are potential consumers, it said.
The mall location is also pivotal for a new brand entrant like Nars to be a part of. With more than 250 shops, Vincom Center is Ho Chi Minh's biggest shopping mall. It is split into two separate buildings, Vincom Center A and Center B, and houses the largest array of international luxury brands and retailers.
Nars has been in expansion mode since 2016 when it broke into the European market with a flagship London store opening in the summer. More recently, opened its first retail store in Malaysia earlier this month. For the debut, Shiseido Travel Retail partnered with Colours & Fragrances to open a Nars cosmetics stand-alone boutique at Kuala Lumpur International Airport (KLIA).
Founded in 1994 by French make-up artist and photographer Francois Nars, the European brand was snapped up by Japanese cosmetic group Shiseido in 2000.
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