The Estée Lauder Companies is set to open its first duty-paid boutique at Hanoi Noi Bai International Airport in partnership with IPP Travel Retail as the beauty conglomerate expands its Vietnam footprint.
Construction of the store, set to open in October in domestic departures, is now underway as IPP Travel Retail prepares to host The Trinity Forum on 5-6 November in Ho Chi Minh City, IPP Travel Retail CEO Phillip Nguyen said.
The 120-square-metre boutique will showcase the beauty house’s key brands including Estée Lauder, Tom Ford, Jo Malone, Clinique, MAC, Bobbi Brown, Origins, and Lab Series, Nguyen confirmed.
The new store comes as the result of nearly two years of negotiations between ELC and IPP Travel Retail.
Ahead of the opening, the retailer hosted a skills training programme focused on the bestselling brands by the beauty company, local media Kenh14.vn reported.
The partners intend to collaborate on special projects targeting Vietnam’s emerging travel retail market.
The two-day workshop was attended by ELC’s brand representatives from Southeast Asia, providing in-depth training to IPP Travel Retail staff.
Enhancing airport retail stores across Vietnam is seen as a crucial boost to the country’s burgeoning tourism sector, bringing in foreign currency, creating additional jobs and supporting the overall growth of the nation’s tourism industry, Nguyen said.
The IPP Travel Retail division leads the extensive Vietnam duty free, travel retail and airport advertising business within the wider Imex Pan Pacific Group (IPPG) portfolio.
IPPG is a diversified conglomerate that controls a majority of the Vietnamese market in distributing luxury and mid-tier fashion brands such as Salvatore Ferragamo, Burberry, Dolce & Gabbana, Rolex, Cartier, Nike, Gap and many more.
In more than 30 years, IPP Travel Retail has established a chain of retail outlets at five key airports in Vietnam, including both international and domestic terminals.
SEE ALSO: Walmart sells entire stake in China’s JD.com for USD3.6 billion
The retailer has established a diverse product portfolio across various categories, including fashion & accessories, jewellery, cosmetics, children’s products, consumer electronics, travel essentials and destination merchandise, among others.
(Source: The Moodie Davitt Report)