What HSV Group does

HSV Group is a Vietnam-based privately-held multi-brand cosmetics retail distributor founded in 2004 by Ms. Lê Thị Bích Phượng (Founder & CEO) and Mr. Nguyễn Quốc Bình (Co-founder). The company operates two principal retail concepts: the Beauty Box multi-brand store chain, positioned by the company as a Vietnam-focused analog to Sephora or Ulta, and the exclusive Vietnamese distribution and retail operation of The Face Shop Korean K-beauty brand. The group operates approximately 53 physical storefronts nationwide across major shopping centers including Aeon Mall and Lotte Mall locations, with coverage spanning Southern Vietnam (Ho Chi Minh City headquarters) and Northern Vietnam (Hanoi branch), and additional e-commerce capability through the Beauty Box website featuring Click & Collect omnichannel service. The product portfolio includes curated international cosmetics and skincare brands plus exclusive brands such as Freshian (a premium vegan makeup line under LG H&H, launched July 2024), Dear Dahlia, and in-store services including Make Up Booth and Photo Booth installations.

The business model is retail-driven, generating revenue primarily through one-time sales of multi-brand cosmetics and beauty products across owned physical stores and the e-commerce platform, targeting Vietnamese beauty and cosmetics consumers seeking authentic, trend-right products at accessible price points. Distribution channels include the Beauty Box retail chain, The Face Shop Vietnam franchise stores, mall-based locations (Aeon, Lotte), and direct-to-consumer e-commerce with 30-minute in-store pickup. Marketing emphasizes organic social media (TikTok, Facebook) with viral content campaigns, in-store customer engagement events such as makeup classes, and employee brand ambassadors across the sales staff. The company pursues a multi-brand transformation strategy, accelerated by its 2024 investment from Beacon Fund, with 2025 themed 'Transformation' and a stated Vision 2030 under four cultural pillars: customer centricity, teamwork, integrity, and agility. Partnerships include LG H&H (exclusive Freshian distribution), VECA (environmental recycling campaign Gom Lành Tô Xanh), and various CJ ecosystem brand relationships.

Name

HSV Group

Legal name

HSV Group

Website

https://talent.hsvgroup.com.vn

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

HSV Group is a Vietnam-based multi-brand cosmetics retail distributor founded in 2004, operating the Beauty Box chain and exclusively distributing The Face Shop and other international K-beauty brands across approximately 53 physical stores with omnichannel e-commerce capabilities.

Ownership category

akta.pro rank

Product category

Specialty Beauty Retail

NAICS

Cosmetics, Beauty Supplies, and Perfume Retailers (45612)

akta.pro primary industry

Beauty & Personal Care DTC (CRAFACAB)

Keywords

• Multi-brand cosmetics retail
• Beauty retail chain
• K-beauty distribution
• Cosmetics e-commerce
• Beauty brand distribution

Headquarters

HQ city

Thu Duc City, 700001

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Retail Cosmetics Sales: Revenue generated from retail sales of multi-brand cosmetics and beauty products through owned store chains and e-commerce platform

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

HSV Group operates a multi-brand cosmetics retail business in Vietnam through the Beauty Box store chain and exclusive distribution of international beauty brands including The Face Shop (Korean K-beauty) and Freshian (vegan makeup from LG H&H). The company sells curated international cosmetics, skincare, and makeup products across 53+ physical store locations and an e-commerce platform offering Click & Collect omnichannel shopping.

Product overview

HSV Group operates a multi-brand cosmetics retail business in Vietnam, primarily through two retail concepts: Beauty Box (multi-brand cosmetics stores) and The Face Shop (K-beauty brand distribution). The company distributes internationally recognized cosmetics brands including The Face Shop Korean products and Dear Dahlia. The portfolio includes exclusive brands like Freshian (vegan makeup), in-store services such as Make Up Booth and Photo Booth, and omnichannel capabilities like Click & Collect. The company also runs environmental initiatives like the Gom Lành Tô Xanh recycling program in partnership with VECA.

Differentiator

Problem solved

Functional benefit

Brands

• Beauty Box: Multi-brand beauty retail chain operated by HSV Group, featuring multiple beauty brands under one roof. Vision to become Vietnam's Sephora or Ulta.
• The Face Shop
• Sener

Products and services

• Beauty Box Multi-brand beauty and cosmetics retail store chain operated by HSV Group, offering skincare and makeup products from various international brands. Positioned as a Vietnamese equivalent of Sephora or Ulta, with stores in major shopping malls across Vietnam.
• The Face Shop Vietnam Korean beauty (K-beauty) brand retail chain operated by HSV Group as exclusive distributor in Vietnam, offering Korean skincare and cosmetics products with multiple store locations across the country.
• Freshian Premium vegan makeup brand under LG H&H, exclusively distributed in Vietnam by The Face Shop Vietnam through The Face Shop stores, the The Face Shop website, and Beauty Box retail locations. Features environmentally-friendly packaging using bio-PET plastic made from sugarcane bagasse and corn starch.

Quantifiable outcome

• 40% growth achieved at Beauty Box Lotte Mall Tây Hồ compared to same period last year
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• LG H&H (Freshian Brand)coreChannel Partner/ Reseller/ Distributor · 3 July 2024Exclusive distribution partnership for Freshian vegan makeup brand in Vietnam through The Face Shop and Beauty Box stores. Freshian is a premium vegan cosmetics brand under LG H&H with eco-friendly packaging made from sugarcane and corn materials.
• VECA (Ve chai công nghệ)minorStrategic or Co-development Partner · 24 April 2024Environmental partnership for the 'Gom Lành Tô Xanh' (Collect Green Paints) recycling campaign. Beauty Box collaborates with VECA to collect empty plastic bottles, glass containers, and cosmetic paper packaging at stores for transport to recycling facilities.

Scale indicators3 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Sociolla: Sociolla is a leading multi-brand beauty retailer in Indonesia with stores and a strong digital presence, focused on authenticated international beauty brands. Comparable to HSV's Beauty Box model in being a curated multi-brand beauty destination in Southeast Asia.
• Hasaki Vietnam: Hasaki is one of Vietnam's largest multi-brand beauty and cosmetics retailers, operating a chain of physical stores and a strong e-commerce platform. Directly comparable to HSV Group's Beauty Box concept in product assortment, target customer, and omnichannel model.
• Guardian Vietnam: Guardian (under DKSH) operates health and beauty retail stores across Vietnam offering multi-brand cosmetics, skincare, and personal care. Overlaps directly with HSV Group in product categories, store format, and premium mall locations.
• Watsons Vietnam: Watsons is a major health and beauty multi-brand retailer with extensive store presence across Vietnam, carrying both international and local brands. Competes head-to-head with Beauty Box and The Face Shop stores in Vietnamese shopping malls.

Regional players

• Innisfree Vietnam: Innisfree, a Korean beauty brand under Amorepacific, operates its own mono-brand retail stores in Vietnam. Comparable to HSV's The Face Shop distribution in operating Korean beauty brand stores directly in the same Vietnamese shopping malls.
• Guardian Health & Beauty (Singapore): Guardian is a major health and beauty retailer across Southeast Asia with a longer-established presence in Singapore and Malaysia. Comparable to HSV in operating multi-brand beauty stores across the region, though with deeper geographic diversification.

Emerging players

• Cocoon Vietnam: Cocoon is a Vietnamese-born beauty brand with growing retail presence and a DTC focus. Emerging player in the same Vietnamese beauty market where HSV competes, useful for tracking local brand and channel dynamics.

Broad incumbents

• Ulta Beauty: Ulta Beauty is the largest multi-brand beauty retailer in the US, cited alongside Sephora as HSV Group's strategic vision. Useful as a comparable business model benchmark for multi-brand curated beauty retail at scale.
• Sephora: Sephora is the world's leading multi-brand beauty retailer which HSV Group explicitly references as its aspirational benchmark. While Sephora itself is not in Vietnam, its expansion plans and global brand partnerships frame the competitive context for HSV's strategy.

Others

• LG H&H (LG Household & Health Care): LG H&H is the South Korean parent of the Freshian brand and a major cosmetics/toiletries conglomerate. HSV Group is LG H&H's exclusive distributor for Freshian in Vietnam, making LG H&H both a key brand partner and an adjacent ecosystem participant.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• TikToktiktok.com/@hsvg_official
• LinkedInlinkedin.com/company/hsvgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HSV Group