First Vietnamese cosmetics brand celebrates first birthday

Vietnamese cosmetics brand presented the lipstick product name "Love M.O.I"

In the evening of March 3, the first birthday of M.O.I (Make Over Image for short) Cosmetics brand attracted the attention of the media, partners, and influencers. Singer Ho Ngoc Ha, creative director and co-founder of the brand, published impressive figures in sales and activities over the past year.

Accordingly, M.O.I sold nearly 300,000 products, including about 150,000 lipsticks. This Vietnamese cosmetic brand is currently a partner of reputable commercial sites such as Tiki, Lazada, and VnExpress Shop, which has agencies across the 63 provinces of the country.

M.O.I products are also trusted and have been introduced by international beauty bloggers and appeared in top fashion magazines in South Korea. Also at this event, M.O.I Cosmetics also officially introduced its third lipstick product called “Love M.O.I” which will be available for sale from March 6.

These results shows upbeat prospects in the general cosmetics market for domestic products. Vietnamese cosmetics brands are always a hot topic among experts, especially as they try to break the dominance of brands from abroad.

According to a report from Mintel Group Ltd., a privately-owned, London-based market research firm, the Vietnamese market was forecasted to grow to $2.35 billion by 2018. On the other hand, despite the rapid growth, 90 per cent of the cosmetics market share is in foreign hands while domestic enterprises only account for 10 per cent. Facing the great challenges, M.O.I Cosmetics, the first Vietnamese beauty brand, has shown that there are great opportunities in front of domestic enterprises.

The success of an enterprise can be seen through many factors, with the most important being recognition and strategy. Therefore, Ho Ngoc Ha, who is a famous face in the entertainment industry, invading the business sector arose consumers’ curiosity. Moreover, M.O.I Cosmetics started to build the first professional Vietnamese makeup brand rather than becoming a distributor for foreign brands.

Selecting South Korea as a production unit is also a challenge for M.O.I Cosmetics due to higher prices than in Vietnam or Southeast Asia. However, according to CEO Lam Thanh Kim, “Korea has one of the world's leading cosmetics production technology and quality standards. Korean factories will produce according to the quality standards that we require. I think this is a way to bring good value products to Vietnamese consumers."

M.O.I is the first professional makeup cosmetics brand completely founded and operated by Vietnamese people. It was launched in March 2018. The brand operates based on three principles, including international-quality products, trendy styles keeping pace with beauty trends in the world, and reasonable prices for Vietnamese people.

M.O.I will launch new products in every three-six months. All products will follow Korean technology and be issued safety certificates in both South Korea and Vietnam. In addition to inspiring beauty, M.O.I Cosmetics also brings income opportunities for women by creating employment opportunities, starting a cosmetics business for young people, students or housewives who want extra income.