Missha, the brand behind popular skin care product Missha super aqua cell renew snail cream, announced this month that it has just opened it’s 15th store in Ho Chi Minh City, thanks to the growing success of it’s brand in Vietnam this year.
The new store can be found at Cach Mang Thang 8 St., which is located in the center of Ho Chi Minh, and an area that is popular with tourists and young people, due to the high concentration of trendy hotels and restaurants on the same street.
The opening of Missha’s Ho Chi Minh City store comes just 3 months after the opening of it’s it’s first store outside of Ho Chi Minh back in April, located in Danang. Missha made the decision to open yet another store in the country’s largest city due to the interest from Vietnamese consumers and the sucess of their first store. According to recent data released by the company, Missha saw sales in Vietnam of US$570,000 (663.48 million won) in the first half of 2015, up 32.5% on last year.
Missha’s outlook for further growth within Vietnam is promising, with data released by the Foundation of the Korea Cosmetics Industry Institute stating that the Vietnamese cosmetics markets has been estimated to grow 17.5% year-in-year, making it the second fastest growing market in Asia after India. The data also revealed that Korean cosmetics are of most interest to Vietnamese consumers, with items such as lipsticks and nail polish being at the top of shoppers lists.
“With Missha’s main items of makeup cosmetics, including mascaras, snail slime creams and BB creams, we will accelerate the market invasion in Vietnam. As Missha has already been established as one of the most popular brands in the country, we will dominate the market in advance by actively expanding stores.” said Lee Kwang-sup, chief manager of Missha’s overseas business unit.
Missha currently has 1,650 stores in 29 countries around the world. The leading Korean snail cream company has nearly 110 stores in nine countries in Southeast Asia, including Indonesia, Singapore, and Thailand.