Vietnamese cosmetics less favored as foreign products dominate market
Vietnam is a large cosmetics market with turnover of $1.1 billion last year, but there is now little room for Vietnamese manufacturers. The founder of La House, a cosmetics brand, has complained about the difficulties of opening shops at large shopping malls. The owners of malls refuse to lease retail premises to made-in-Vietnam cosmetics brands even before hearing about the brand’s history, achievement and financial capability. They said they wanted to reserve retail premises for international prestigious brands which will be more favored by Vietnamese. Vietnamese pay high prices for foreign cosmetics, but ignore Vietnamese-made products even if they are much cheaper. My Secret is one of the very few Vietnamese cosmetics brands becoming better known as its products are made of organic oil. However, many consumers still hesitate to buy My Secret products.
