1.2.1. BACKGROUND
Among the ASEAN cosmetics markets, Vietnam only occupies 5% the market share after Thailand (30%), Indonesia (23%), Philippines (21%) and Singapore (7%). Vietnamese people consume only 4 USD per capita a year while this number for Thai is 20 USD. Therefore, Vietnam is considered as a very potential market for this industry now.According to the Chemical Cosmetic Association in Ho Chi Minh City, 430 cosmetic brands operate in the country, of which 90% are well-known foreign brands. Comparatively, only a few Vietnamese cosmetic brand names are visible in the market, such as Saigon Cosmetics, My Hao Chemical Cosmetics and Thorakao of the Lan Hao Company.