Mekong Capital announced that Mekong Enterprise Fund IV (MEF IV) has completed an investment into HSV Group, which is the cosmetics retailer in Vietnam with the highest number of stores.
|HSV Group secured investment from Mekong Capital |
As of June 30, HSV Group operated 105 stores. Established in 2005 as the exclusive distributor of The Face Shop (a cosmetics brand from LG Cosmetics), 12 years later, HSV Group has become the non-exclusive distributor of the sportswear brand Adidas and the exclusive distributor of Reebok products.
In 2018, realising the rapid growth of multi-brand cosmetics retail chains, HSV Group opened their own chain under the brand name Beauty Box, which now has 11 stores nationwide. Beauty Box operates under the retail-tainment concept, providing customers with an engaging shopping experience.
The investment from MEF IV will speed up the growth of HSV Group’s store network and widen their brand assortments while upholding their commitment to elevate customer experience. The company also aims to strengthen its corporate culture and enhance the capabilities of its leadership team to fulfil its vision.
Le Thi Bich Phuong, co-founder and CEO of HSV Group, said, “We believe that corporate culture will foster a collective power for an ever-growing business. Mekong is an experienced partner in building a corporate culture as a solid foundation for breakthrough development. Therefore, we believe that our partnership will enable HSV to realise our Vision 2025: to be the role model of employee experience and customer experience in Vietnam.”
Chris Freund, partner of Mekong Capital, said, "The HSV team is very open-minded, proactive, and is already providing so much leadership towards the fulfilment of their vision. Together, we are committed that HSV Group will reinvent what’s possible in the world of customer experience and employee experience, providing a robust foundation for growth of their retail network and customer engagement, and setting a new standard for retail in Vietnam."