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Hasaki maintains its leading position in the cosmetics retail race in Vietnam

In Vietnam, the cosmetics market is valued at around $2.3 billion and is expected to grow 6.2% annually (CAGR 2021-2025). Although Vietnam's cosmetic market is still small compared to other countries in the region, it has been developing rapidly.


In particular, during the COVID-19 pandemic, an increased focus on skin health has spurred consumer interest in cosmetics with skincare benefits. Cosmetics are consistently on top online shopping lists across the country.


As can be seen, cosmetics is an attractive but equally competitive market. Hanoi and Ho Chi Minh are currently the 2 centers where the cosmetics market takes place most excitingly. According to a survey by Q&Me, in 2022, Ho Chi Minh City has the most cosmetic stores with 59 stores. In addition, there are about 29 stores in cities other than Hanoi and Ho Chi Minh City. Up to now, there are nearly 100 stores nationwide, not to mention online stores. We can see that consumer demand for cosmetics accounts for a fairly large number. Almost, the use of skincare and makeup products has become a daily habit of consumers.


Some popular cosmetic distribution channels today: Independent stores, Brands' stores, E-commerce platforms, Website selling cosmetics, Health & Beauty Chain Stores, and Supermarkets/Department Stores. In which, the distribution channel at the chain of health & beauty stores and the brands' stores are still leading in terms of reaching consumers.


Under the attractiveness of the Vietnamese market in recent years, more and more cosmetic distribution stores have appeared on the Vietnamese market to bring customers more experiences about beauty cosmetics.


In this article, Vietdata will mention a number of cosmetic retail chains that are of interest to consumers in recent times.


Hasaki - cosmetics store system with the largest store scale in the country

Hasaki is a system of genuine cosmetics stores and intensive beauty care services with a system of 76 stores spanning 27 provinces and cities and is currently a strategic distribution partner in the Vietnam market of a series of big brands such as La Roche-Posay, Eucerin, L'oreal, Bioderma, Maybelline, Vichy, Cocoon, Cetaphil, Anessa,...


Hasaki owns a wide range of products ranging from high-end to affordable, meeting all the needs of customers.


Currently, Hasaki is the leading cosmetic store chain in terms of revenue in the cosmetic retail industry. Accordingly, the revenue of this system in 2021 will reach over VND900 billion, an increase of nearly 70% compared to the same period in 2020.


The number of stores that are widely distributed as well as the variety of products from major brands around the world has helped Hasaki achieve a positive growth rate in both revenue and profits in recent years. Specifically, Hasaki brought in nearly VND5 billion in profit after tax, an increase of nearly 20% compared to 2020.


Beauty Box

Beauty Box is a trademark of Universe General Trading Service JSC. Beauty Box store chain with the companion of exclusive distribution brands such as CLUB CLIO, A'Pieu, Dear Dahlia, Banila Co, AHC, and more than 70 famous brands HOT TREND from u to Asia, can't help but mention like Bobbi Brown, M.A.C, Estee Lauder, Clinique, Maybelline, L'Oreal, La Roche Posay, Vichy, Merzy, Black Rouge, Romand,...


Up to this year, Beauty Box is a chain of stores that has grown to 8 large stores spanning 3 major cities: Hanoi, Hai Phong, and Ho Chi Minh.


In the cosmetics retail industry, the revenue of the Beauty Box chain is also at the top, but the gap with "tycoon" Hasaki is very large. Specifically, Beauty Box's revenue in 2021 is only about VND220 billion, there is a decrease compared to 2020.


The business situation of this chain of stores in recent years has also been quite poor when revenue and profit after tax both grew negative. Accordingly, Beauty Box's after-tax profit in 2021 is negative more than VND50 billion, while in 2020, this business only loses about VND13 billion.


The Gioi Skinfood

The Gioi Skinfood is a genuine cosmetic retail system belonging to Blue Ocean Service Trading One Member Company Limited. At The Gioi SkinFood provides more than 10 thousand genuine cosmetics with more than 350 famous and quality cosmetic brands from all over the world.


In recent years, the business situation of The Gioi Skinfood's revenue is quite positive when bringing about positive growth in revenue. Accordingly, in 2019, the revenue of this business was only about VND0.1 billion, after 2 years its revenue was more than VND165 billion.

Nuty Cosmetics

Nuty Cosmetics is one of the big and reliable cosmetic store chains in Saigon, which can satisfy the passion in the lipstick game of millions of shopaholics from the South to the North. Nuty has always been considered the home of thousands of cosmetic products belonging to many big and small brands, from all over the world.


Present since 2012, Nuty has expanded its market share, becoming one of the prestigious cosmetic shopping addresses in the hearts of customers. From the first store built in Ho Chi Minh City, until now, Nuty Cosmetics' genuine cosmetics system has 9 showrooms in prime central locations in Ho Chi Minh City, Hanoi, and Nghe An.


According to the report, it can be seen that the revenue of this cosmetic store chain has grown continuously in recent years. In 2021, Nuty Cosmetics' revenue reached nearly VND 45 billion, a slight increase of 2% compared to 2020, an increase of 48% compared to 2019.


In terms of profit, 2021 is the second consecutive year that Nuty Cosmetics recorded a negative growth rate. Specifically, in 2020, the after-tax profit of this chain of stores will reach about 280 million VND, down nearly 15% compared to 2019. By 2021, the profit of this cosmetic store chain will only be nearly 60 million VND, down 80% compared to 2020.


CocoLux

CocoLux is a genuine cosmetic system with a variety of cosmetics from famous brands around the world. To mark an important step forward after 8 years of operation, in 2020, Coco Shop will officially change its name to CocoLux.


Like other cosmetic retail stores, CocoLux is currently a partner of famous cosmetic brands such as Christian Lenart, Bioderma, Maybelline New York, Vichy, Laroche Posay, Senka...


In 2021, CocoLux's revenue grew quite impressively. Accordingly, the revenue of this cosmetic store chain reached more than 20 billion VND, up 3.6 times compared to 2020. Although profit after tax is negative, compared to 2020, CocoLux's business situation seems to be more positive.

Beauty Garden

Beauty Garden is a genuine cosmetics retail distribution brand established in 2014, owning a store system spread across 3 regions of the country, present in major provinces and cities across the country.


At Beauty Garden, there are more than 10,000 products available, from more than 200 famous cosmetic brands at home and abroad, and hundreds of samples for customers to experience.


Beauty Garden's business situation begins to slow down in 2021 after the previous period of continuous growth. Specifically, the revenue of this store chain will only reach about VND3 billion in 2021, down 33% compared to 2020. Despite this, Beauty Garden still brought in more than VND20 million in profit after tax, an increase of more than 50% compared to 2020.


Mac Hoa Da Phan

Mac Hoa Da Phan is a brand specializing in distributing genuine products and updating the latest trends in the world with guaranteed quality and competitive prices. After many years of operation, the brand has built a solid foothold in the cosmetic market of Ho Chi Minh City in particular and the country in general. Currently, Mac Hoa Da Phan owns 4 affiliated branches located in the central districts of Ho Chi Minh City and 1 franchised branch in Binh Duong. In the near future, Mac Hoa Da Phan will expand the brand to other provinces.


According to data from the report, the chain's revenue in 2 years was almost flat at VND2.5 billion. 2021 is also the 5th year in a row that this business has recorded a negative profit.


It can be seen that, with the scale and outstanding development speed, the cosmetics market in general, and the cosmetic retail industry in particular, has great potential for development in the future. However, facing fierce competition from competitors in the industry and the increasing needs of customers, it is becoming more and more difficult for cosmetic retail systems to gain market share.


Source: Vietdata





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