Japan largest drugstore chain to open first outlet in Vietnam next year
|Japanese group joins local partner to open drugstores in Vietnam|
|Another Japanese retailer set to enter Vietnam|
|Japanese giant retailer Seven & I Holdings to enter Vietnam|
|A Matsumotokiyoshi pharmacy in Tokyo, Japan. Photo by Shutterstock/Torjrtrx.|
The Japanese drugstore chain, in a joint venture with local operator Lotus Food Group, hopes to open 10 to 15 stores in the next five years and expand to hundreds of outlets beyond that.
Matsumoto Kiyoshi Vietnam will feature health food, functional foods and beauty products from Japanese brands, including exclusive product lines such as Blanc White and Argelan. Apart from products originating from Japan, the store will also offer goods from Vietnam and other countries, according to a spokesperson.
“Cosmetics and dietary supplements are the most purchased products by Vietnamese customers with an annual growth rate of more than 56 per cent,” said the spokesperson.
Vietnam is the second market in the region to launch Matsumoto Kiyoshi chain after Thailand.
Matsumoto Kiyoshi Vietnam is 51-per-cent owned by Matsumoto Kiyoshi, with the balance held by Lotus Food Group.