RoK’s cosmetics firm plans to raise market share in Vietnam
AmorePacific, a major cosmetics conglomerate of the Republic of Korea (RoK), is planning to open retail shops and boost online selling so as to promote the consumption of its products in Hanoi and Ho Chi Minh City.
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| (Source: www.amorepacific.com) |
A representative of AmorePacific revealed the plan while talking to the Vietnam News Agency about its moves to gain a bigger market share in Vietnam.
Explaining the reason for this plan, the firm said Vietnam has a fast-growing economy, its population’s average age is 29, while the rates of working-age people and women are high, leading to high purchasing power.
It will open small shops to offer Vietnamese consumers products to try and improve their brand awareness.
Aside from Vietnam, AmorePacific, known for such brands as Sulwhasoo, Laneige, Mamonde and Innisfree, is also targeting other Southeast Asian markets like Singapore, Malaysia, Thailand and Indonesia.
