Australian company G&M Cosmetics has made its debut in Vietnam, with its products now available in more than 500 retail outlets across the country. The company is introducing its Australian Creams MKII Gold Series, featuring ingredients such as goat’s milk, manuka honey, lanolin, emu oil, and lemon tea tree.
The expansion includes partnerships with various retail chains, such as the pharmacy chains Guardian and Medicare Pharmacy, as well as a range of beauty and cosmetics stores like Sammy Beauty Shop.
Peter Bosevski, G&M Cosmetics’ global marketing and sales manager, noted the strong demand and interest in South East Asia, particularly in Vietnam. He highlighted the growing discretionary spending on imported skincare products among Vietnam’s expanding middle and upper classes.
Based in Sydney, G&M Cosmetics also exports to Hong Kong, China, Singapore, Taiwan, Malaysia, and Thailand. G&M Cosmetics first entered Vietnam in 2018 and has a strong presence on e-commerce platforms like Shopee and Lazada.
With a population of approximately 100 million and an expanding middle and upper class, Vietnam is seeing a yearly increase in discretionary spending on imported skincare, particularly for high-quality Australian-made products.
The company reports that the beauty and personal care market in the country was valued at USD 2.3 billion in 2021. Projections indicate that revenues are expected to grow to USD 8.6 billion by 2025, reflecting a compound annual growth rate (CAGR) of 8.6%.
(Sources: Inside FMCG, Cosmetics Design)
