RoK cosmetics firm plans to raise market share in VN

SEOUL — AmorePacific, a major cosmetics conglomerate from the Republic of Korea (RoK), is planning to open retail shops and boost online sales to promote the consumption of its products in Hà Nội and HCM City.

A representative of AmorePacific revealed the plan while talking to the Vietnam News Agency about its moves to gain a bigger market share in Việt Nam.

Explaining the reason for the plan, the firm said the country had a fast-growing economy and an average age of 29, while the rate of working-age people and women were high, leading to high purchasing power.

It planned to open small shops to offer Vietnamese consumers products to try and improve brand awareness.

Aside from Việt Nam, AmorePacific, known for such brands as Sulwhasoo, Laneige, Mamonde and Innisfree, is also targeting other Southeast Asian markets like Singapore, Malaysia, Thailand and Indonesia.— VNS