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New Estée Lauder cosmetics store headed for Vietnam’s Noi Bai airport

Estée Lauder has reached an agreement with Vietnam’s IPP Travel Retail  to establish a new cosmetics store at Hanoi’s noi Bai International Airport, Kenh 14 is reporting. The store will cover 120 square metres and include a broad range of cosmetics brands including Estée Lauder, Tom Ford, Jo Malone, Clinique, MAC, and Bobbi Brown.

This is inline with strong growth in Vietnam’s cosmetics market which is projected to generate a revenue of US$546.2 million this year on an anticipated annual growth rate of 3.20 percent up to 2028, according to data collated by Statista.

A good portion of these sales look to be imports too with approximately US$800 million worth of essential oils, perfumes, and cosmetics imported into Vietnam in the first seven months of this year. This was an increase over the same period a year earlier of 14.8 percent.

See also: How to Start an Import Business in Vietnam: Ultimate Guide 2024

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