(Author : retail in asia)
Chanel has opened its first dedicated cosmetics and perfume boutique in Vietnam.
Opting to debut in Ho Chi Minh City, the new store is located on the ground of the capital’s Saigon Centre shopping mall. Covering 133 square metres, the Chanel shop is designed with a tri-colour theme of black, beige, and burgundy.
The Vietnamese outlet will sell Chanel’s latest makeup, skincare, and perfume collections – with special emphasis on the ‘Les Exclusifs de Chanel’ perfume collection with 16 scents. Local customers are also privy to Chanel’s special skincare service called Sublimage from Chanel beauty team. Chanel’s Vietnam cosmetic store opening signals the French fashion house’s continued push in to Asia, a market that is growing.
In March, Chris Leung joined Chanel as rewards manager, Asia Pacific. Based in Hong Kong, Leung has his five years rewards experience as regional reward manager for Asia Pacific at Oxford University Press.
According to Euromonitor International, Vietnam’s cosmetics market is vastly made up of imported foreign products, namely from South Korea, Europe and the US, accounting for 90% of the local market.
A recent report from the Trade Map of ITC (International Trade Centre) and the World Bank showed that Vietnam imported $1.1 billion worth of foreign brand cosmetics in 2016, with the figure expected to double by 2020 to $2.2 billion.
Perfume topped the list of biggest cosmzetics items, accounting for 55% of total imports, followed by makeup products, which account for 21%.
Source : retailinasia.com