Although Vietnam's real GDP growth slowed in 2009, current projections show that it will bounce back to its 2008 level of 6% in 2010, making it one of the fastest growing economies in Asia. With a population of 88 million, half of which is below the age of 30, Vietnam has emerged as one of beauty's biggest potential players in the region.
Shiseido to reap the benefits of skin care from long-term investments.As part of its cross-Asia expansion plans, Shiseido completed its US$42million production plant and opened a sales subsidiary in Vietnam earlier this year. Alongside its favourable geographical and export conditions, as well as a strongly dominant young workforce, Vietnam also offers Shiseido vast opportunities to strengthen its position in the country's beauty market, which is set to increase by nearly US$500 million (nominal terms) by 2014, according to Euromonitor International. Shiseido already has a relatively strong presence in the dynamic skin care market, but there is certainly more to exploit given the increased consumer adoption of more sophisticated beauty regimes and rising awareness of skin protection...