Báo cáo Mỹ Phẩm

Beauty and Personal Care in Vietnam
Industry Overview | 03 Sep 2013

Beauty and personal care maintains healthy growth
In 2012, despite the economic slowdown, Vietnam beauty and personal care managed to record healthy
growth in both volume and value sales, albeit slower than in the previous year. Over the review period,
manufacturers ran various marketing and promotional campaigns to attract consumers attention. In some
mature categories, such as hair care, established brands launched various new products to keep their brand
image fresh, and thus help maintain sales growth and industry shares.
Growing preference for premium brands
Vietnamese consumers showed considerable interest in premium brands over the review period. Higherearning demographics tend to opt for premium beauty and personal care products that offer superior quality
and brand image, because they believe these products convey image and status. Greater availability of
premium brands via various channels also fuels interest in premium brands as consumers now have different
outlets from which to choose.
International manufacturers account for the majority of sales
In 2012, international brands continued to lead beauty and personal care, with the presence of domestic
players remaining very limited. International brands dominate both mass and premium price segments in
which they benefit from strong brand awareness and are of high quality. One of the few prominent domestic
companies is International Consumer Products, which is a strong player in mens grooming.
Beauty specialists is a prominent retailing channel
With the growing number of premium brands entering Vietnam, beauty specialists became a popular
retailing channel for beauty and personal care products. Premium manufacturers choose to retail their
products via specialist stores because they enable them to have greater control over how to project their
brand quality via customer services, product displays, store decoration and sales staff.
Growth slows over the forecast period
Over the forecast period, beauty and personal care in Vietnam is expected to continue seeing a strong CAGR
in constant value terms in line with improvements in living standards and disposable incomes. However, the
growth in constant terms will be slower than the review period due to the saturation of major categories,
such as hair care. However, with properly conceived expansion, such as extending distribution channels into
rural areas, mature categories may still be improved. Potential and neglected categories may start to
develop, but they will not contribute much to the overall sales due to their ongoing small presence.
KEY TRENDS AND DEVELOPMENTS

Demand for premium products continues to grow
Despite the fact that mass products characterise beauty and personal care in Vietnam, the value share of
premium products continued to expand marginally over the last few years of the review period. An increasing
number of consumers are switching from mass to premium products for a variety of reasons. For instance, as
living standards improve and disposable incomes increase, consumers are willing to spend more on
premium beauty and personal care products in order to take better care of themselves. Premium products,
mostly well-known international brands, are believed to be of superior quality and have prestigious brand
images. Thus, premium products strongly appeal to affluent consumers who perceive that the brands they
use are an indication of their social status.
Current impact
Premium brands are enjoying steady growth with new brands entering Vietnam. For instance, Shu Uemura
opened its first outlet in Vietnam in early 2012 while the existing The Face Shop brand increased the number
of its outlets to 37 throughout the country in 2013. Consumers who are benefiting from higher incomes and
improved knowledge of beauty and personal care products demand well-known brands with high-quality
products.
To compete with mass brands, mid-to-premium brands strive to provide good customer service, giving the
consumers pleasant pre- and post-purchase experience. Most brands distribute their products in their own
stores or outlets, as opposed to having their products retailed in supermarkets/hypermarkets, grocery stores
and drugstores. This way, they can decorate the store to reflect their desired brand image, and train sales
staff to give purchasing advice to their customers.
Most mid-to-high end brands are produced by international manufacturers. However, in response to the
growing demand for premium products, domestic manufacturers have also begun to introduce their own
premium brands. For example, Saigon Cosmetics created Miss Vietnam, a new brand to targets middleincome consumers.
Outlook
Despite the steady growth of premium products, mass products will continue to represent the majority
of beauty and personal care products. While there are a growing number of consumers with mid-to-high
incomes who will opt for mid-to-premium priced brands, the majority of consumers will continue to prefer
mass products for their affordable and reasonable quality. As manufacturers of premium products increase
their sales through affluent consumers, mass manufacturers will expand their consumer base to rural areas
where use of beauty and personal care products is still somewhat lacking. As such, it will not be possible for
premium products to take over the leading position from their mass counterparts.
Future impact
As mid-to-premium products are expected to expand over the forecast period, more players will have a
presence in these price segments. More international brands will be presented in Vietnam, while domestic
players will introduce their own premium brands. However, although premium products will account for only
a modest share of beauty and personal care products as a whole, players will nevertheless want to focus on
achieving a share of this niche, instead of trying to reach out to mass consumers.
Negative impact of counterfeit/illegal goods on premium beauty and personal care
Despite tougher government controls, counterfeit and illegal products are still an unresolved issue
inVietnam. There are many counterfeit products, mostly made in China, illegally imported and sold in private
specialist beauty shops at a much lower price than own brand boutiques. Often, the price difference can be
truly substantial. Many consumers, who are uneducated on the side-effects of bad skin care and cosmetics
products, are drawn towards these cheap counterfeit products. Moreover, the price of true
premium beauty care products are out of the financial reach of most consumers. Thus, being able to
purchase premium products at a cheaper price is too good an opportunity to miss for many consumers.
Most of the outlets that sell counterfeit items usually advertise their products as being hand-carried from
overseas or duty free shops in airports to explain their cheaper prices. Many consumers, who are not very
well-travelled, believe these claims and purchase the products in the belief that they are genuine.
Current impact
In many cases, counterfeit beauty products are a waste of money as they do not deliver the promised effects
while others are actually dangerous to the health as they often cause allergies or skin irritation necessitating
in medical treatment. Incidents, such as these, have a direct impact on consumers trust in the so-called
brands they specifically use as well as in beauty and personalcare products in general. Moreover,
in Vietnam, where word-of-mouth recommendation is important, poor product reviews can spread very
rapidly.
However, this trend only affects a small share of the overall market, and generally mostly affects lower- and
mid-income consumers. Many high-end consumers who are also highly educated are aware of the negative
effects counterfeit products can have on their bodies, and usually only purchase from trusted boutiques.
Outlook
This trend has been present in the country for some time and it is not expected to subside in the near future.
In fact, it has escalated over the review period for several reasons. For instance, the entrance of many
premium beauty care brands in Vietnam over the review period heightened consumer awareness and
demand for such products. However, as not all consumers are able to afford them, this created an
opportunity for cheaper counterfeit products to thrive. Moreover, urbanisation and industrialisation in many
areas increased the disposable income among many people, although not necessarily the standard of
education. As such, many people who earn more than they have in the past also demand more expensive
products, but remain frugal due to habits formed from in their earlier years.
Future impact
Counterfeit products are expected to remain a problem in the future, although they will not threaten
premium beauty care as this will remain a niche category in Vietnam. This is because the price of these
products will remain unaffordable by the majority of consumers. As such, most premium players will focus on
developing their products and marketing programmes to target the small audience of wealthier consumers,
instead of broadening their target consumer base to include middle-income consumers. Publicity around the
negative effects of using counterfeit products is unlikely to have a significant impact on their brand image, as
it will not take much effort to show that these products are not genuine.
Beauty specialist retailers is a popular retailing channel
Over the preview period, more international brands entered Vietnam. Most of these were premium brands,
although some, such as mass imported offerings, such as The Face Shop, are still considered high-end due to
their high prices compared to other mass brands available in Vietnam. In terms of these brands, customer
service and brand image, over and above product quality, play an important role in the sales performance.
As such, they choose to distribute their products via their own beautyspecialist stores where they have
complete control over the store decoration, product display and sale staff. All of these factors affect the
consumers shopping experience and brand perception, which in turn has an impact upon sales. The growing
presence of international brands in Vietnamfuels the expansion of beauty specialist retailers as a major
retailing channel.
Current impact
Mass brands will continue to dominate beauty and personal care products, and their main distribution
channel, supermarkets/hypermarkets, will remain the major retailing channel. However, beautyspecialist
retailers is becoming a popular vehicle for consumers seeking premium products.
The beauty specialist retailers channel, despite its high set-up cost and resources, is highly effective in
creating a bond between consumers and its brands. In shops such as these, which are solely dedicated to a
single brand, the brand captures the full attention of consumers who have no other alternative from which to
choose. On the other hand, consumers receive the full attention from sales staff, who provide a level of
service that is unavailable in other distribution channels. In this context, it is easier to introduce new
products and convince consumers to try out different products, especially those in a product line in which the
consumer is in the habit of using. It is also easier to convince customers to participate in promotional
campaigns. As premium brands rely greatly on brand loyalty for strong sales, the bond-setting effect that the
specialist retailers channel can bring will prove essential to manufacturers.
Outlook
While beauty specialist retailers will not take over supermarkets/hypermarkets as a major retailing channel,
its presence will continue to grow, especially in the niche categories characterised by mid-to-high end
products. This channel enables brands to differentiate themselves from their competitors and add more
value in terms of store decoration, product displays and customer service.
Future impact
Following the success of previous brands that have had their own retail shops, such as The Face Shop, new
international brands entering Vietnam are likely to use beauty specialists as their main distribution channel.
While the set-up cost for this type of channel is higher compared to renting a space in department stores or
supermarkets, the investment will pay off in the long term as this type of retailing channel helps build a
stronger relationship between customers and brands, and thereby boosts sales.
Mens grooming continues to enjoy a robust performance
The trend in which men are paying more attention to their health and beauty continued to rise in 2012 and
2013, contributed by various factors. The urbanisation trend has led more people to adopt modern lifestyles.
All consumers, including men, take better care for their appearance as they believe this is a sign of social
status. Many people also consider a person with healthy-looking smooth skin, who is well-groomed and who
wears tailored clothes to be more professional and successful. Thus, many male city-dwellers no longer
see beauty and personal care to be the sole domain of women, but instead now also incorporate their
own beauty regimes into their daily lives.
Furthermore, the concept of metrosexuality whereby an urban man is interested in grooming andbeauty to
improve his personal appearance is also becoming more popular and accepted, especially among office
workers and businessmen. Many men are not embarrassed to discuss their dailybeauty regimes and share
their experiences of products with each other. Increased exposure to modern Western culture through
international cable TV channels, magazines, and the internet has also educated men on how to carry out
their personal grooming properly, such as avoiding bar soap to wash their faces and to apply facial
moisturiser daily. For instance, a leading international mens lifestyle magazine, Esquire, launched
a Vietnamese version of the magazine in April 2013, giving many tips on beauty care for its readers in
addition to entertainment and lifestyle news.
Current impact
The rising trend of mens beauty creates higher demand for mens grooming products, as more men look for
products specifically made for them instead of purchasing products targeted at women. They believe that the
male body is physically different from the female body, and mens products are especially formulated to be
more suitable for their bodies. Moreover, brand image also plays an important role, as many men become
more conscious of the brand they use and they prefer to use brands that have a manly image instead of
those with a more feminine image.
Over the last three years of the review period, many brands specifically for men were launched, such as
mass brands, Vaseline for Men, and Head & Shoulders Men, as well as premium brands, such as Biotherm
Homme, in order to capture the rising demand for mens grooming products inVietnam. Advertisements
targeted at men have also become more prominent and featured brands, such as Rexona Men and X-Men. As
a result, almost all mens grooming categories recorded much stronger growth in 2012 than regular products.
For instance mens bath and shower registered 23% value growth compared to only 13% growth for bath and
shower as a whole.
Outlook
This trend is expected to continue throughout the forecast period as urbanisation will develop further
throughout the country. Moreover, better educated and increasingly sophisticated consumers will also ensure
that this trend will develop. Major urban areas, such as Ho Chi Minh City, Danang and Hanoi, will lead the
trend while helping it to expand to more areas.
Nevertheless, certain niche beauty trends could adversely affect this male beauty trend. For instance,
products with natural ingredients are also rising in Vietnam, which also capture the attention of many male
consumers. For some, they may choose to follow these trends instead of choosing regular products targeted
at men.
Future impact
Mens grooming, especially mens toiletries, will continue to grow at a much faster rate than the overall
industry as the trend develops. It is expected that more players will enter this category and launch an
increasing number of male-targeted brands.
As consumers become more sophisticated, especially wealthier demographics, new players are likely to offer
male-orientated products in combination with other major trends, such as natural ingredients. Combination
trends such as this one will mostly be niche, but will be profitable for whichever players are successful in
those fields. This is because disposable incomes will rise making consumers more willing to spend on
products that encompass all the features they desire.
Internet retailing is a supplementary channel for sales
Internet retailing gained more popularity over the review period as more people became familiar with the
concept of online shopping. Many consumers find it convenient to shop online as they can easily browse
through different brands, compare prices and read reviews before making the final purchase decision. The
development of different payment methods, such as credit cards, debit cards, pre-paid cards, and e-wallets,
besides cash, also help to fuel the growth of internet retailing as consumers now have many options with
which to pay for their purchases. However, the majority of internet retailing is consumer-to-consumer
transactions while the presence of formal internet retailing appears to be negligible.
Current impact
Despite the apparent growth, internet retailing remains small-scale and disorganised with its share of total
sales remaining insignificant by the end of 2012. However, even though consumers did not actually make
purchases via the internet in 2012, this channels presence, however small, will continue to positively affect
the development of beauty and personal care products and the way in which consumers will eventually come
to shop. The very presence of online stores, enable consumers to better research products. While some may
not make online purchases, they do later go to the physical store and buy what they have previously
researched online. Moreover, while some people remain sceptical about purchasing products they have only
seen via the internet, they will find it easier to make the same purchase if they have already used or are
familiar with previously purchased products. As such, for daily and mass products, such as shampoos,
consumers may use internet retailing to re-purchase them.
Outlook
Internet retailing is expected to become more popular over the forecast period thanks to the growth of the
finance industry and consumers becoming appreciative of the convenience internet retailing brings. Major
supermarkets/hypermarkets chains are expected to incorporate internet retailing into their websites as a
means of increasing their sales. As consumers are already familiar with their products, it is easier for them to
make online purchases. However, the value sales of formal internet retailing are still expected to register
insignificant sales as it takes time for consumers to change their shopping habits.
Future impact
As the number of consumers who visit websites and look for product and store information is expected to
increase over the forecast period, company websites will play an important role in building an effective
communication channel between consumers and companies. Such players are likely to run advertisements
for new products or introduce promotions for online purchases to encourage consumers to shop online.
MARKET DATA
Table 1 Sales of Beauty and Personal Care by Category: Value 2007-2012
VND billion
Baby and Child-specific
Products
Bath and Shower
2007
2008
2009
2010
2011
2012
297.1 350.0 419.4 502.6 603.9 707.5

1,132 1,253 1,419. 1,609. 1,847. 2,090.
.3
.9
5
9
9
2
VND billion
2008
2009
2010
2011
Colour Cosmetics
Deodorants
Depilatories
391.3 480.0
102.0 128.7
5.5
5.9
612.0
160.5
6.5
757.6
198.2
7.1
951.3
244.1
7.9
Fragrances
367.3
1,704
.9
354.4
2,507
.1
2,507
.1
1,141
.4
26.3
-
584.4
2,110.
1
444.8
3,104.
2
3,104.
2
1,762.
9
34.7
1,405.
9
5,697.
7
10,519
.9
763.4
2,436.
7
510.1
3,578.
6
3,578.
6
2,292.
6
39.6
1,895.
8
6,704.
7
12,516
.5
997.5
2,866.
2
605.1
4,268.
2
4,268.
2
2,921.
7
45.0
2,466.
3
8,011.
2
15,128
.5
Hair Care
Men's Grooming
Oral Care
Oral Care Excl Power
Toothbrushes
Skin Care
Sun Care
Sets/Kits
Premium Cosmetics
Mass Cosmetics
Beauty and Personal Care
2007
805.7
4,356
.8
7,942
.5
462.3
1,878
.5
397.5
2,769
.9
2,769
.9
1,411
.1
29.7
1,063
.5
4,930
.7
9,056
.9
2012
1,139.
6
288.7
8.6
1,181.
6
3,295.
0
707.5
4,998.
7
4,998.
7
3,472.
4
50.6
2,941.
8
9,283.
8
17,655
.6
Source: Euromonitor International from official statistics, trade associations, trade press, company research, store checks,
trade interviews, trade sources
Note 1: Premium/mass cosmetic sales are additionally included within baby and child-specific products, bath and shower,
colour cosmetics, deodorants, fragrances, hair care, sets/kits, skin care and sun care. Note 2: Sum of categories is greater
than market size because the four mens toiletries categories are included in mens grooming as well as in bath and
shower, deodorants, hair care and skin care.
Table 2 Sales of Beauty and Personal Care by Category: % Value Growth 2007-2012
% current value growth

Baby and Child-specific Products
Bath and Shower
Colour Cosmetics
Deodorants
Depilatories
Fragrances
2011/1
2
17.2
13.1
19.8
18.3
8.4
18.5
2007-12 CAGR 2007/12 Total

19.0
13.0
23.8
23.1
9.4
26.3
138.2
84.6
191.2
183.1
56.8
221.7

Hair Care
Men's Grooming
Oral Care
Oral Care Excl Power Toothbrushes
Skin Care
Sun Care
Sets/Kits
Premium Cosmetics
Mass Cosmetics
2011/1
2
15.0
16.9
17.1
17.1
18.8
12.6
19.3
15.9
16.7
2007-12 CAGR 2007/12 Total

14.1
93.3
14.8
99.6
14.8
99.4
14.8
99.4
24.9
204.2
14.0
92.5
29.6
265.1
16.3
113.1
17.3
122.3
Table 3 Sales of Premium Cosmetics by Category: Value 2007-2012
VND billion
Premium
Products
Premium
Premium
Premium
200
7
2008
2009
2010
2011
2012

Bath and Shower
Colour Cosmetics
Deodorants
Premium Fragrances
Premium Hair Care
Premium Skin Care
Premium Sun Care
Premium Sets/Kits
Premium Cosmetics
3.6
19.2
90.0
6.1
221.
7
40.0
422.
1
3.0
805.
7
4.6
5.9
7.5
9.7 12.7
22.6 27.0 32.2 38.8 46.0
124.8 177.5 242.4 313.9 398.8
7.6
9.8 12.3 15.4 18.5
298.1 396.1 535.1 709.6 848.6
49.4 62.3 78.8 96.2 118.9
1,277 1,491
552.8 723.2 982.6
.0
.2
3.6
4.2
4.9
5.8
7.1
1,063 1,405 1,895 2,466 2,941
.5
.9
.8
.3
.8
Note: Premium/mass cosmetic sales are additionally included within baby and child-specific products, bath and shower,
colour cosmetics, deodorants, fragrances, hair care, sets/kits, skin care and sun care.
Table 4 Sales of Premium Cosmetics by Category: % Value Growth 2007-2012

Premium
Products
Premium
Premium
Premium
Premium
Premium
Premium
Premium
Premium
Premium
2011/1
2
2007-12
CAGR
2007/12
Total
31.8
18.5
27.0
20.2
19.6
23.6
16.8
21.2
19.3
29.0
19.0
34.7
24.7
30.8
24.3
28.7
18.6
29.6
257.2
138.9
343.2
202.0
282.8
197.0
253.3
134.3
265.1

Bath and Shower
Colour Cosmetics
Deodorants
Fragrances
Hair Care
Skin Care
Sun Care
Sets/Kits
Cosmetics
Table 5 Beauty and Personal Care GBO Company Shares by Value 2008-2012
% retail value rsp

Unilever Group
Procter & Gamble Co, The
Colgate-Palmolive Co
Johnson & Johnson Inc
LG Household & Health Care Ltd
L'Oral Groupe
Shiseido Co Ltd
Wipro Ltd
Oriflame Cosmetics SA
Beiersdorf AG
Este Lauder Cos Inc
Amway Corp
Henkel AG & Co KGaA
Avon Products Inc
AmorePacific Corp
Coty Inc
2008 2009 2010 2011 2012

29.4
14.2
8.2
4.1
3.0
2.1
2.6
2.8
2.1
1.6
1.0
0.0
1.4
1.2
0.8
0.5
29.2
13.6
7.8
4.2
3.4
2.4
2.9
2.8
2.5
1.7
1.4
0.2
1.4
1.4
0.8
0.6
28.3
13.3
7.5
4.3
3.7
2.8
3.1
2.7
2.4
1.8
1.7
0.8
1.5
1.5
0.9
0.7
27.3
12.9
7.7
4.2
3.9
3.1
3.1
2.7
2.5
1.9
1.9
1.4
1.3
1.5
0.9
0.8
27.4
12.7
7.7
4.3
4.1
3.2
3.0
2.4
2.1
2.0
1.9
1.5
1.2
1.2
1.0
0.9
% retail value rsp

Kao Corp
Forever Living Products International Inc
Rohto Pharmaceutical Co Ltd
Nippon Menard Cosmetic Co Ltd
Revlon Inc
LVMH Mot Hennessy Louis Vuitton SA
GlaxoSmithKline Plc
Saigon Cosmetics Corp
Chanel SA
Hoyu Co Ltd
Croma Pharma GmbH
International Consumer Products Ltd
Clarins SA
Daso Group
Pure Labs Inc
Elizabeth Arden Inc
Nestl SA
Pigeon Corp
Dermalogica Inc
Hoa Linh Pharma Co Ltd
Lion Corp
Salvatore Ferragamo SpA
Euroitalia Srl
Davines
Others
Total
2008 2009 2010 2011 2012

0.7
0.7
0.8
0.9
0.9
0.5
0.6
0.7
0.8
0.8
0.7
0.7
0.7
0.7
0.7
0.3
0.4
0.5
0.6
0.6
0.5
0.6
0.6
0.6
0.6
0.3
0.3
0.3
0.4
0.5
0.1
0.3
0.5
0.5
0.5
0.4
0.4
0.4
0.5
0.3
0.3
0.4
0.4
0.4
0.3
0.3
0.3
0.4
0.4
0.5
0.5
0.4
0.4
0.4
0.3
0.3
0.3
0.3
0.4
0.2
0.3
0.3
0.4
0.3
0.5
0.4
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.2
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.2
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.3
0.3
0.2
0.2
0.2
0.2
0.2
0.3
0.3
0.3
0.2
0.2
0.1
0.2
0.2
0.0
0.1
0.1
0.2
0.2
0.1
0.2
0.2
0.2
0.2
17.4 15.5 14.5 13.8 14.1
100.0 100.0 100.0 100.0 100.0
Table 6 Beauty and Personal Care NBO Company Shares by Value 2008-2012
% retail value rsp

Unilever Vietnam International Co Ltd
Procter & Gamble Vietnam Ltd
Colgate-Palmolive (Vietnam) Co Ltd
Johnson & Johnson Vietnam Co Ltd
200 200 201 201 201

8
9
0
1
2
29.4 29.1 28.2 27.2 27.2
9.2 8.9 8.7 8.4 8.2
8.2 7.8 7.5 7.7 7.7
4.0 4.2 4.2 4.2 4.2
% retail value rsp

LG Vina Cosmetics Co Ltd
Oral-B (Vietnam) Ltd
Shiseido Cosmetics Vietnam Co Ltd
L'Oral Vietnam Co Ltd
Unza Vietnam Co Ltd
Oriflame Vietnam Ltd
Beiersdorf Vietnam Ltd Co
Amway Vietnam Ltd
Henkel Vietnam Co Ltd
Avon Cosmetics Vietnam Ltd
Este Lauder Vietnam Co Ltd
Aloe Trading Co Ltd
Coty Inc
AmorePacific Vietnam JSC
Nippon Menard Cosmetic Co Ltd
Revlon Inc
Este Lauder Cos Inc
Kao Vietnam Ltd
Rohto Mentholatum (Vietnam) Co Ltd
Saigon Cosmetics Corp
Vichy Vietnam Co Ltd
GlaxoSmithKline Plc
Kanebo Cosmetics Inc
Hoyu Corp
Croma Pharma GmbH
International Consumer Products Ltd
Clarins SA
Beiersdorf AG
Daso Group
Elizabeth Arden Inc
MAC Co Ltd
Procter & Gamble Co, The
Bbchen-Werk Ewald Hermes Pharmazeutische
Fabrik GmbH
200 200 201 201 201

8
9
0
1
2
3.0 3.4 3.7 3.9 4.1
4.6 4.4 4.2 4.1 4.0
- 3.1 3.1 3.0
1.6 1.9 2.2 2.5 2.6
2.8 2.8 2.7 2.7 2.4
2.1 2.5 2.4 2.5 2.1
0.2 0.3 1.5 1.6 1.7
0.0 0.2 0.8 1.4 1.5
1.4 1.4 1.5 1.3 1.3
1.2 1.4 1.5 1.5 1.2
0.5 0.7 0.9 1.1 1.1
0.5 0.6 0.7 0.8 0.8
0.4 0.5 0.6 0.7 0.8
0.7 0.7 0.7 0.8 0.8
0.3 0.4 0.5 0.6 0.6
0.5 0.6 0.6 0.6 0.6
0.4 0.5 0.6 0.6 0.6
0.4 0.4 0.4 0.5 0.5
0.6 0.6 0.5 0.5 0.5
0.5 0.4 0.4 0.4 0.5
0.3 0.3 0.4 0.4 0.4
- 0.2 0.4 0.4
0.4 0.4 0.4 0.4 0.4
0.3 0.3 0.3 0.4 0.4
0.5 0.5 0.4 0.4 0.4
0.3 0.3 0.3 0.3 0.4
0.2 0.3 0.3 0.4 0.3
1.3 1.4 0.3 0.3 0.3
0.5 0.4 0.4 0.3 0.3
0.2 0.3 0.3 0.3 0.3
0.2 0.2 0.2 0.2 0.3
0.2 0.2 0.3 0.3 0.3
0.3
0.3
0.3
0.3
0.3
% retail value rsp

Pigeon Corp
Dermalogica Vietnam Co Ltd
Summit Co (M) Sdn Bhd
Shiseido Co Ltd
Faceshop Co Ltd, The
Others
Total
200 200 201 201 201

8
9
0
1
2
0.2 0.3 0.3 0.3 0.3
0.2 0.2 0.2 0.3 0.3
0.3 0.3 0.3 0.3 0.3
2.6 2.9
0.5
18.8 17.8 17.2 16.6 17.0
100. 100. 100. 100. 100.
0
0
0
0
0
Table 7 Beauty and Personal Care LBN Brand Shares by Value 2009-2012
% retail value rsp
P/S
Colgate
Close-Up
Dove
Sunsilk
Braun Oral-B
Pantene
Johnson's Baby
Shiseido
Lux
Oriflame
Lifebuoy
Rejoice
Clear
Company
200 201 201

9
0
1
Unilever Vietnam International

Co Ltd
10.1
Colgate-Palmolive (Vietnam)
Co Ltd
5.6
Co Ltd
3.9
Co Ltd
3.4
Co Ltd
3.1
Oral-B (Vietnam) Ltd
2.8
2.9
Johnson & Johnson Vietnam Co
Ltd
2.5
Shiseido
Cosmetics Vietnam Co Ltd
Co Ltd
2.3
Oriflame Vietnam Ltd
2.5
Co Ltd
2.3
1.8
Co Ltd
1.8
201
2
9.6
9.2
9.3
5.5
5.7
5.8
3.6
3.6
3.5
3.3
3.2
3.2
2.9
2.6
2.7
2.8
2.6
2.7
2.8
2.6
2.6
2.5
2.4
2.4
2.5
2.4
2.3
2.4
2.4
2.3
2.4
2.2
2.1
2.2
1.8
2.0
1.8
2.0
1.7
1.7
1.7
1.7
% retail value rsp

Double Rich
Enchanteur
Pond's
The Face Shop
Olay
Safeguard
Avon
Head & Shoulders
Fa
Colgate Herbal
Lanege
Listerine
Glister
L'Oral Paris
L'Oral DermoExpertise
Nivea Visage
Este Lauder
O HUI
Menard
Lancme
Eversoft
Hazeline
Bior
Darlie
Camay
Forever Bright
Toothgel
Shiseido
Others
Company
Unza Vietnam Co Ltd
Co Ltd
Avon Cosmetics Vietnam Ltd
Henkel Vietnam Co Ltd
Co Ltd
AmorePacific Vietnam JSC
Johnson & Johnson Vietnam Co
Ltd
Amway Vietnam Ltd
Beiersdorf Vietnam Ltd Co
Este Lauder Vietnam Co Ltd
Nippon Menard Cosmetic Co
Ltd
Unza Vietnam Co Ltd
Co Ltd
Kao Vietnam Ltd
Co Ltd
Aloe Trading Co Ltd
Shiseido Co Ltd
Others
200 201 201

9
0
1
1.6 1.6 1.6
1.5 1.5 1.5
201
2
1.5
1.4
1.1
0.6
1.1
1.0
0.9
1.0
1.0
1.2
0.8
1.2
1.0
1.0
1.0
1.0
1.2
1.0
1.1
0.9
1.1
0.9
0.9
1.3
1.2
1.2
0.9
0.9
0.9
0.8
0.8
0.7
0.8
0.7
0.8
0.8
0.8
0.8
0.7
0.1
0.6
0.7
0.4
0.7
0.7
0.7
0.7
0.8
0.8
0.8
0.6
0.3
0.5
0.6
0.5
0.5
0.6
0.7
0.6
0.6
0.6
0.7
0.7
0.6
0.6
0.4
0.4
0.6
0.5
0.5
0.6
0.6
0.6
0.6
0.6
0.6
0.5
0.5
0.4
0.5
0.4
0.5
0.5
0.5
0.5
0.5
0.6
0.5
0.5
0.5
0.5
0.5
0.5
0.3 0.4 0.4 0.5

2.4
34.6 34.4 34.6 35.1
% retail value rsp
Company
Total
Total
200 201 201 201

9
0
1
2
100. 100. 100. 100.
0
0
0
0
Table 8 Sales of Beauty and Personal Care by Distribution Format: % Value Analysis 2007-2012
% retail value rsp

Store-Based Retailing
- Grocery Retailers
-- Modern Grocery Retailers
--- Convenience Stores
--- Discounters
--- Forecourt Retailers
--- Hypermarkets
--- Supermarkets
-- Traditional Grocery Retailers
--- Food/drink/tobacco specialists
--- Independent Small Grocers
--- Other Grocery Retailers
- Non-Grocery Retailers
-- Apparel specialist retailers
-- Electronics and Appliance Specialist
Retailers
-- Health and Beauty Retailers
--- Beauty Specialist Retailers
--- Chemists/Pharmacies
--- Parapharmacies/Drugstores
--- Other Health and Beauty Retailers
-- Home and Garden Specialist Retailers
--- Furniture and Homewares Stores
-- Mixed Retailers
--- Department Stores
--- Mass Merchandisers
--- Variety Stores
--- Warehouse Clubs
200
7
200
8
200
9
201
0
201
1
201
2
94.4
64.1
16.8
3.0
2.6
11.2
47.3
45.5
1.8
30.4
-
94.3
62.6
20.8
2.7
3.7
14.4
41.8
40.1
1.8
31.7
-
93.1
60.5
23.9
2.8
5.2
15.9
36.6
35.0
1.7
32.6
-
92.9
59.4
26.5
2.1
6.8
17.6
32.9
31.1
1.8
33.5
-
92.9
62.2
23.7
1.8
6.2
15.7
38.5
36.5
2.0
30.7
-
92.6
60.3
24.2
1.9
6.8
15.5
36.1
35.6
0.5
32.3
-
24.0 24.5 24.9 25.2 23.4 23.6

15.7 16.2 16.7 17.2 16.2 16.9
6.1 6.0 6.0 5.9 5.3 5.0
2.0 2.1 2.0 1.9 1.8 1.6
0.1 0.1 0.2 0.2 0.2 0.2
5.8 6.6 7.2 7.8 6.8 6.4
5.8 6.6 7.2 7.8 6.8 6.4
-
% retail value rsp

-- Other Non-Grocery Retailers
-- Outdoor Markets
--- Other Other Non-Grocery Retailers
Non-Store Retailing
- Direct Selling
- Homeshopping
- Internet Retailing
- Vending
Non-retail channels
- Hair Salons
Total
200 200 200 201 201 201

7
8
9
0
1
2
0.6 0.6 0.5 0.5 0.4 2.4
0.6 0.6 0.5 0.5 0.4 2.4
5.1 5.3 6.4 6.6 6.6 6.8
5.1 5.3 6.4 6.6 6.6 6.8
0.4 0.5 0.5 0.5 0.5 0.5
0.4 0.5 0.5 0.5 0.5 0.5
100. 100. 100. 100. 100. 100.
0
0
0
0
0
0
Table 9 Sales of Beauty and Personal Care by Category and by Distribution Format: % Value
Analysis 2012
BC
Store-Based
Retailing
98. 97. 74. 88. 10 84. 95. 96. 97. 86. 97. 0.
6
7
6
2 0.0
1
6
6
7
6
7 0
66. 79.
60. 98. 21. 86. 69. 78. 28. 53. 0.
3
5 0.0
0
0
1
8
7
6
3
8 0
39. 33.
48. 32.
28. 42. 32.
37. 0.
2
9 0.0
8
0 3.2
6
3
5 9.5
4 0
0.
2.0 3.2 0.0 0.4 2.5 0.0 2.7 3.2 2.5 0.8 3.2 0
0.
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0
0.
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0
11. 13.
12.
10.
10. 0.
0
2 0.0 6.2
0 0.5 6.6 9.9
0 1.3
9 0
26. 17.
42. 17.
19. 29. 20.
23. 0.
2
5 0.0
1
5 2.7
2
2
1 7.3
3 0
27. 45.
11. 66. 17. 58. 27. 46. 18. 16. 0.
1
6 0.0
2
0
9
3
4
1
8
4 0
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.
Grocery Retailers
Modern Grocery
Retailers
Convenience
Stores
Discounters
Forecourt
Retailers
Hypermarkets
Supermarkets
Traditional
Grocery Retailers
Food/drink/tobacc
BS
CC
DP
HC MG
OC
SC
SU
S
K
% retail value rsp
% retail value rsp

o specialists
Independent
Small Grocers
Other Grocery
Retailers
Non-Grocery
Retailers
Apparel specialist
retailers
Electronics and
Appliance
Specialist
Retailers
Health
and Beauty Retail
ers
Beauty Specialist
Retailers
Chemists/Pharma
cies
Parapharmacies/D
rugstores
Other Health
and BeautyRetaile
rs
Home and Garden
Specialist
Retailers
Furniture and
Homewares
Stores
Mixed Retailers
Department
Stores
Mass
Merchandisers
Variety Stores
BC
BS
CC
DP
HC MG
OC
SC
SU
27. 45.
11. 66. 16. 58. 27. 46. 16. 16.
1
6 0.0
2
0
8
0
1
1
8
4
0.0 0.0 0.0 0.0 0.0 1.1 0.3 0.3 0.0 2.0 0.0
32. 18. 74. 28.
63.
26. 19. 58. 43.
3
1
6
2 2.0
0 8.8
9
1
4
9
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0
8.0
- 0.0
S
K
0
0.
0
0.
0
0.
0
0.
0
17. 10. 41. 23.

36.
21. 18. 44. 36. 0.
1
2
8
5
6
4
6
3
0 0
10. 41. 23.
36.
17.
41. 34. 0.
5.5
2
8
3 0.0
6 6.5
3 0.0
4
1 0
13.
0.
9.1 0.0 0.0 0.2 0.0 0.0 1.1 0.2
7 2.9 1.9 0
0.
0.0 0.0 0.0 0.0 0.0 0.0 0.1 3.8 4.9 0.0 0.0 0
0.0 0.0 0.0 0.0 0.0 0.3 0.0 0.0 0.0 0.0
0.
2.5
0
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.
0.0
0
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.
0.0
0
13.
26.
13.
0.
6 7.9 0.0 4.7 2.0
4 0.8 4.8 0.0
9 7.9 0
13.
26.
13.
0.
6 7.9 0.0 4.7 2.0
4 0.8 4.8 0.0
9 7.9 0
0.
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0
0.
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0
% retail value rsp
BC
Warehouse Clubs
Other NonGrocery Retailers
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
32.
1.6 0.0
8 0.0 0.0 0.0 0.0 0.7 0.5 0.2 0.0
Outdoor Markets
Other Other NonGrocery Retailers
Non-Store
Retailing
Direct Selling
0.0 0.0 0.0

32.
1.6 0.0
8
25.
1.4 2.3
4
25.
1.4 2.3
4
Homeshopping
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Internet Retailing
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Vending
Non-retail
channels
Hair Salons
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total
BS
CC
DP
HC MG
OC
SC
SU
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.7 0.5 0.2 0.0
11.
15.
13.
8 0.0
9 1.5 3.4 2.3
4 2.3
11.
15.
13.
8 0.0
9 1.5 3.4 2.3
4 2.3
S
K
0.
0
0.
0
0.
0
0.
0
0.
0
0.
0
0.
0
0.
0
0.
0
- 2.9
- - 2.9
- 10 10 10 10 10 10 10 10 10 10 10 0.
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0
Key: BC = baby and child-specific products; BS = bath and shower; CC = colour cosmetics; D = deodorants; DP =
depilatories; F = fragrances; HC = hair care; MG = mens grooming; OC = oral care; SC = skin care; SU = sun care; SK =
sets/kits
Table 10 Forecast Sales of Beauty and Personal Care by Category: Value 2012-2017
VND billion
Products
Bath and Shower
Colour Cosmetics
Deodorants
Depilatories
2012
2013
2014
2015
2016
2017
1,076. 1,184.
707.5 796.1 884.5 977.1
6
1
2,090. 2,268. 2,434. 2,589. 2,745. 2,903.
2
2
8
9
5
9
1,139. 1,288. 1,434. 1,579. 1,726. 1,881.
6
4
3
8
7
7
288.7 320.3 351.2 382.3 415.2 451.2
8.6
8.9
9.3
9.8
10.4
11.0
VND billion
Fragrances
Hair Care
Men's Grooming
Oral Care
Oral Care Excl Power
Toothbrushes
Skin Care
Sun Care
Sets/Kits
Premium Cosmetics
Mass Cosmetics
2012
2013
2014
2015
2016
1,181. 1,294. 1,415. 1,544. 1,684.
6
7
4
4
0
3,295. 3,602. 3,919. 4,267. 4,660.
0
5
2
3
0
1,075.
707.5 784.8 870.6 966.8
7
4,998. 5,568. 6,103. 6,633. 7,187.
7
9
4
9
3
4,998. 5,568. 6,103. 6,633. 7,187.
7
9
4
9
3
3,472. 3,977. 4,516. 5,125. 5,818.
4
9
6
1
8
50.6
54.9
59.5
64.5
69.9
2,941. 3,396. 3,851. 4,359. 4,935.
8
0
2
8
3
9,283. 10,207 11,164 12,170 13,261
8
.1
.3
.7
.5
17,655 19,641 21,626 23,711 25,973
.6
.2
.4
.6
.2
2017
1,835.
6
5,112.
5
1,200.
7
7,768.
2
7,768.
2
6,598.
0
75.7
5,581.
8
14,460
.8
28,444
.5
Source: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources
Table 11 Forecast Sales of Beauty and Personal Care by Category: % Value Growth 2012-2017
% constant value growth

Baby and Child-specific Products
Bath and Shower
Colour Cosmetics
Deodorants
Depilatories
Fragrances
Hair Care
Men's Grooming
Oral Care
Oral Care Excl Power Toothbrushes
Skin Care
2012-17 CAGR
2012/17 TOTAL
10.8
6.8
10.6
9.3
5.1
9.2
9.2
11.2
9.2
9.2
13.7
67.4
38.9
65.1
56.3
28.3
55.3
55.2
69.7
55.4
55.4
90.0

Sun Care
Sets/Kits
Premium Cosmetics
Mass Cosmetics
2012-17 CAGR
8.4
13.7
9.3
10.0
2012/17 TOTAL
49.5
89.7
55.8
61.1
Table 12 Forecast Sales of Premium Cosmetics by Category: Value 2012-2017
VND billion
Premium
Products
Premium
Premium
Premium
2012
2013
2014
2015
2016
2017
12.7 15.9 20.3

46.0 52.2 58.4
398.8 502.5 573.7
18.5 20.8 23.2
1,025
848.6 933.6
.4
118.9 138.5 159.6
1,491 1,724 1,981
.2
.2
.0
7.1
8.2
9.5
2,941 3,396 3,851
.8
.0
.2
24.4
64.7
647.7
25.6
1,124
.3
182.0
2,280
.1
11.0
4,359
.8
29.1
71.4
725.2
28.2
1,232
.2
210.1
2,626
.6
12.6
4,935
.3
33.2
78.4
809.1
31.1
1,349
.9
242.4
3,023
.3
14.4
5,581
.8

Bath and Shower
Colour Cosmetics
Deodorants
Premium Fragrances
Premium Hair Care
Premium Skin Care
Premium Sun Care
Premium Sets/Kits
Premium Cosmetics
Table 13 Forecast Sales of Premium Cosmetics by Category: % Value Growth 2012-2017

Premium
Products
Premium
Premium
Premium
2012-17 CAGR
2012/17 TOTAL
21.1
11.3
15.2
11.0
160.3
70.5
102.9
68.5

Bath and Shower
Colour Cosmetics
Deodorants

Premium Fragrances
Premium Hair Care
Premium Skin Care
Premium Sun Care
Premium Sets/Kits
Premium Cosmetics
2012-17 CAGR
9.7
15.3
15.2
15.2
13.7
2012/17 TOTAL
59.1
103.8
102.8
102.9
89.7
SOURCES
Sources used during research include the following:
Summary 1 Research Sources
Official Sources
Trade Associations
Trade Press
American Chamber of Commerce

Australia Embassy
General Statistic Office
Hanoi Revenue Office
Hochiminh Revenue Office
Minh Trang Salon
Ministry of Health
Ministry of Information
Ministry of Trade
Statistics Bereau
Viet Trade
Vietnam Chamber of Commerce & Industry
Vietnam Custom Office
Vietnam General Statistic Office
Vietnam Trade Fair
Cosmetics, Toiletries & Fragrances Association (CTFA)
Vietnam National Essential Oils, Aromatic & Cosmetics
Beauty Business News
Camnangmuasam.com
Cosmade.com
Cosmetics Magazine
Cosmetique News
Official Sources
Source: Euromonitor International
American Chamber of Commerce

Dep Magazine Online
Diendannuochoa.com
European Cosmetic Markets
Financial Times
Forbes
Happi Magazine
International Cosmetique News
Nuoc Hoa Sai Gon
Phu Nu Online Newspaper
Sai GonTiep Thi
Saigon Times Weekly
Sify.com
Soap Perfumery & Cosmetics
South Information Net
Thegioidep.vn
thitruongnews.com
Tuoi Tre
Vietnam Agency
Vietnam Economy News Online
Vietnam News
vietnamnet.vn

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Beauty and Personal Care in Vietnam

Industry Overview | 03 Sep 2013

KEY TRENDS AND DEVELOPMENTS

297.1 350.0 419.4 502.6 603.9 707.5

% current value growth

2007-12 CAGR 2007/12 Total

% current value growth

2007-12 CAGR 2007/12 Total

Table 3 Sales of Premium Cosmetics by Category: Value 2007-2012

Baby and Child-specific

Table 4 Sales of Premium Cosmetics by Category: % Value Growth 2007-2012

% current value growth

Baby and Child-specific

% retail value rsp

2008 2009 2010 2011 2012

% retail value rsp

2008 2009 2010 2011 2012

% retail value rsp

200 200 201 201 201

% retail value rsp

200 200 201 201 201

% retail value rsp

200 200 201 201 201

% retail value rsp

200 201 201

Unilever Vietnam International

% retail value rsp

200 201 201

0.3 0.4 0.4 0.5

% retail value rsp

200 201 201 201

% retail value rsp

24.0 24.5 24.9 25.2 23.4 23.6

% retail value rsp

200 200 200 201 201 201

% retail value rsp

% retail value rsp

17. 10. 41. 23.

% retail value rsp

0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

% constant value growth

% constant value growth

Table 12 Forecast Sales of Premium Cosmetics by Category: Value 2012-2017

12.7 15.9 20.3

Baby and Child-specific

Table 13 Forecast Sales of Premium Cosmetics by Category: % Value Growth 2012-2017

% constant value growth

Baby and Child-specific

% constant value growth

American Chamber of Commerce

Source: Euromonitor International

American Chamber of Commerce

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