Updated: Sep 1, 2019
BANGKOK, 22nd August 2019.
After opening its second Hello Beauty store at Big C Di An supermarket in Binh Duong Province (Viet Nam), Thai retail conglomerate Central Group announced further investments in Viet Nam aimed at capturing growing consumer demand for non-food items.
Hello Beauty specializes in health and beauty products and offers over 3,000 products including personal care products, beauty care, baby care and health care of prestigious domestic and international brands, with assured quality and reasonable prices ranging from VND10,000 (US$0.43) to VND600,000 ($25.8) per item.
Following its market entry in 2011, Central Group is currently operating 240 stores in Vietnam across a variety of sectors from supermarkets to fashion brands, sports and electronics with half of its sales coming from food.
The Thai retailer will be investing $500 million in its Vietnamese operations over the next five years with plans to triple the number of its stores and shopping malls to as many as 750.
Vietnam's retail sector has been expanding rapidly since it opened up to 100% foreign ownership in 2009 and companies from Thailand, South Korea and Japan have rushed to expand in the market at the early stage, before the local competion could pose more serious challenges for the new comers.