Japan’s Matsumoto Kiyoshi Holdings signed a joint venture agreement with Vietnam’s Lotus Food Group on December 16 with the aim of establishing Matsumoto Kiyoshi Vietnam as a joint venture, in addition to unveiling its first flagship store which is set to open in 2020.
In line with the co-operation agreement, both sides will be looking to fully tap into their respective strengths and expand MatsuKiyo-branded drugstores nationwide as a means of providing Vietnamese consumers with high quality and safe products that follow Japanese standards.
Most notably, Matsumoto Kiyoshi’s flagship store is poised to open in late March 2020 and aims to develop into a standard Japanese store chain over the next three to five years.
Apart from the opening of their first premises, hundreds of stores are also set to spring up over the next few years in order to meet the needs of consumers for health protection and beauty care.
Kiyoo Matsumoto, President of Matsumoto Kiyoshi Holdings Co.Ltd stated that the MatsuKiyo-branded drugstore chain will focus on major products such as Japanese cosmetics, along with products from famous global brands, including health supplements, nutrition supplements, and body care products.
It is also hoped that the chain will provide local buyers with a number of exclusive products and brands from Matsumoto Kiyoshi such as Blanc White and Argelan which have been created by a team of Japanese experts and developed by organic materials.
Le Van May, President and CEO of Lotus Food Group, noted that Vietnamese consumers have a keen interest in goods originating from Japan, especially products relating to health and beauty care.
Japan’s Matsumoto Kiyoshi Holdings is a corporation that has many years of experience in the field of pharmaceutical and cosmetic distribution. Indeed, it possesses the largest drugstore chain in Japan today.
Elsewhere, Lotus Food Group owns a distribution system that covers 61 out of 63 provinces and cities nationwide and enjoys many advantages due to their knowledge about the domestic market and the tastes of consumers.