Updated: Sep 1, 2019
TOKYO, 16th July 2019.
Japan's Matsumoto Kiyoshi has agreed to launch a joint venture with Vietnam's Lotus Food Group as part of the Japanese cosmetics and drugstore chain's expansion into the Southeast Asia.
Matsumoto Kiyoshi - Established in 1932, Matsumoto Kiyoshi is the largest Japanese drugstore chain that boasts an wide selection of goods, including medicine, makeup, cosmetics, oral hygiene products, supplements, among others. The firms counts 1,654 stores in Japan (including Matsumotokiyoshi and Drug Papasu stores), 33 stores in Thailand and three in Taiwan as of the end of June.
According to Ryutsuu News, Vietnam’s distribution and retail market is thriving, thanks
to an increase in the middle-income class and stable economic growth in recent years.
Furthermore, data showed that Vietnamese tourists have huge demand for Japan’s
cosmetics and dietary supplements while visiting Japan.
Alongside Vietnam, the Matsumoto Kiyoshi Holdings eyes the opening of its drugstore
chain in Hong Kong.