HSV Group is the largest cosmetics retailer in Vietnam in terms of number of stores. HSV Group was founded in 2004 by two friends, Mrs. Le Thi Bich Phuong and Mr. Nguyen Quoc Binh, as the exclusive distributor of The Face Shop (a cosmetics brand from LG Cosmetics, Korea) since 2005.
12 years later, being inspired to develop beauty solutions inside and outside for women, consecutively in 2016 and 2017, HSV Group expanded to become the exclusive distributor of sportswear brand Reebok and non-exclusive distributor of Adidas.
In 2018, realizing the rapid growth of multi-brand cosmetics retail chains, HSV Group opened the first multi-brand cosmetics store named Beauty Box store in Ho Chi Minh City. Currently, Beauty Box has grown to 11 stores in 3 major cities: Hanoi, Hai Phong, and Ho Chi Minh City, with more than 7000 products from more than 70 brands. Beauty Box operates under Retail-tainment concept, the blend of retail and entertainment intended to provide customers with an engaging shopping experience by clubbing various activities along with shopping, such as expert consultations, make-up trials, etc. In addition, Beauty Box is also set up as a customer-driven brand where customers can benefit from in-store consulting services as well as new beauty trends through stories on its website.
(photo taken on Sep-15,2020)
As of 30 June 2021, HSV has self-operated a total of 105 stores: 69 The Face Shop stores, 11 Beauty Box stores, 7 Club Clio stores, 6 Adidas stores, and 12 Reebok stores. The investment from MEF IV will speed up HSV Group’s store network growth and widen their brand assortments while upholding their commitment to elevate the customer experience. The company also aims to strengthen its corporate culture and enhance the capabilities of its leadership team to fulfill its vision.
HSV Group is the third investee company announced by Mekong Enterprise Fund IV.
For more information about HSV Group, please visit the firm’s website at beautybox.com.vn