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Vietnam Cosmetics Stores Reach 574 as Hasaki Leads Expansion

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Vietnam Cosmetics Stores Reach 574 as Hasaki Leads Expansion

Vietnam’s beauty retail sector recorded 574 stores as of March 2026, up 4.5 percent from 2025 as the pace of store openings moderated after years of rapid growth.

According to market research firm Q&Me, the physical expansion unfolded alongside rapid digital adoption, with beauty and personal care online sales reaching VND74.4 trillion ($2.83 billion) in 2025.

Hasaki Beauty & Clinic remained the industry’s fastest-growing chain by store openings, adding 52 outlets in a single year to expand its footprint from 172 locations in 2024 to 252 in 2025, with projections to reach 304 stores in 2026.

Founded in 2016, Hasaki operates an integrated business model combining beauty retail with on-site aesthetic clinics. The retailer raised capital repeatedly to fund network growth, increasing its charter capital to VND350 billion ($13.27 million) in October 2024.

Co Mem, a domestic brand focused on natural beauty formulas, posted store count growth exceeding 20 percent. The chain is on track to expand from 62 stores in 2025 to 80 locations in 2026 by targeting provincial retail markets beyond Hanoi and Ho Chi Minh City.

Pan-Asian pharmacy and beauty chains maintained their networks while opening fewer new outlets than local competitors. Guardian is projected to increase its Vietnamese footprint from 125 to 127 stores, while regional rival Watsons maintained steady store counts.

Smaller multi-brand operators also posted incremental gains. Aeon-backed Glam Beautique is expected to rise from 14 to 16 outlets, and domestic competitor The Gioi SkinFood is projected to increase from 10 to 12 locations.



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