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Top 5 largest cosmetics companies in Vietnam

Top 5 largest cosmetics companies in Vietnam

Monday 15, 08 2022
Thanks to the increasing demand for beauty products of both women and men, the Vietnamese cosmetics industry has made great strides in recent years, which is followed by a rapid increase in the number of cosmetics manufacturers and companies.

Below is the list of the 5 largest pharmaceutical and cosmetic companies in Vietnam made by VietnamCredit based on financial and non-financial indicators of enterprises in the industry.


Unilever Vietnam International Co., Ltd. was officially established and put into operation in 1995. The company is a branch of Unilever Group, which is one of the world's leading multinational corporations from the UK and the Netherlands specializing in the production and sales of personal care, home and food products in more than 150 countries. It has invested over USD 300 million in Vietnam to build a modern factory in the Northwest Cu Chi industrial park. Unilever Vietnam has a nationwide distribution system including 150 distributors and 200,000 retail stores.

The company directly employs more than 1,500 employees and indirectly creates nearly 10,000 more jobs for partners such as outsourcing units, contractors, distributors, small and medium-sized companies throughout Vietnam.

Unilever Vietnam International Co., Ltd.

With great efforts right from the early days of entering the Vietnamese market, so far, most of Unilever's brands such as OMO, P/S, Clear, Pond's, Knorr, Lifebuoy, Sunsilk, VIM, Lipton, Sunlight, VISO, Rexona have become household names among every Vietnamese family. Every day, more than 30 million products by Unilever are sold in Vietnam, contributing to improving living conditions, hygiene and health for all Vietnamese families.

In the period of 2019 - 2021, Unilever Vietnam was almost unaffected by the Covid-19 pandemic. Revenue fluctuated between VND 30,000 billion to VND 32,000 billion with profit after tax reaching nearly VND 5,000 billion.


VICO Co., Ltd was formerly known as Sao Bien Co., Ltd. The company officially changed its name in 1997. As an enterprise specializing in the production and trading of washing powder, detergents, cosmetics and specialized chemicals, after more than 20 years of development and continuous innovation, VICO is gradually becoming a leading enterprise in Vietnam’s cosmetics industry.

In the domestic market, VICO's market share accounts for about 12%. Its products have covered 63 provinces and cities across the country.

VICO is currently an important partner of large corporations such as Procter & Gamble (P&G) - USA; Metro Cash and Carry – Germany; Toyota Tsusho, Kao - Japan. In addition, VICO also promotes exports to Japan, Australia, Mongolia, Taiwan, Cambodia, Cuba, Myanmar, Singapore, countries in the Middle East and Africa.

VICO Co., Ltd


In February 2002, Sunstar Joint Stock Company was officially established, operating with the motto "continuously bringing happiness to every Vietnamese family". The company operates mainly in the fields of cosmetics, drugs and functional foods derived from medicinal herbs.

Currently, Sao Thai Duong is one of the leading pharmaceutical and cosmetic companies in Vietnam, with the most diverse and rich product portfolio.

Trong đó có nhiều sản phẩm đã trở thành thương hiệu truyền thống, gắn liên với công ty như: Kem nghệ Thái Dương, Dầu gội Thái Dương, dầu gừng Thái Dương, nhãn hiệu Tây Thi, hoặc nhiều thương hiệu được giới chuyên gia và người tiêu dùng  đánh giá cao như Tuần hoàn não Thái Dương, viên vai gáy Thái Dương,…

In particular, there are many beauty products that have become traditional brands associated with the company such as Thai Duong Turmeric Cream, Thai Duong Shampoo, Thai Duong Ginger Oil, Tay Thi brand, etc.

Sunstar Joint Stock Company

Along with the increase in total assets, Sunstar also has a fairly rapid growth in revenue in the period 2016 - 2019. From VND 69.3 billion in 2016, its revenue increased to more than VND 466 billion in 2017 and reached VND 667 billion in 2018, an increase of 50%. This figure for 2019 is VND 829 billion, corresponding to a growth rate of 24%.

However, Sunstar’s revenue in 2020 suddenly slowed down at VND 824 billion, although its products that were not affected much by the Covid-19 pandemic. However, gross profit margin improved significantly from 38.2% to 48.2%, equivalent to a gross profit of nearly VND 400 billion.


CVI Cosmetics and Pharmaceutical Joint Stock Company was established in 2013. The company is currently known as one of the leading pharmaceutical & cosmetics companies in Vietnam that applies high technology in production.

All of the company's products always aim at the core values of traditional herbs, thereby raising the level of Vietnamese herbs, creating Vietnamese-branded products that contribute to community health care.

CVI Pharma has 3 subsidiaries including CVI Southern Joint Stock Company; CVI Pharmaceutical Development and Investment Joint Stock Company; J-CVI Pharmaceutical Joint Stock Company.

In addition, CVI Pharma also has 4 business points and transaction offices, all located in Thanh Xuan District, Hanoi.

CVI Cosmetics and Pharmaceutical Joint Stock Company

As of December 31, 2021, total assets of CVI Pharma reached VND 400 billion, an increase of 10% compared to the beginning of the year. At the same time, the company’s revenue reached VND 266.6 billion, up 36% over the same period. Cost of goods sold saw a sharp increase, making gross profit reach VND 150.1 billion, up 17%.

During the period, financial income was below VND 2 billion. Interest expense doubled, from VND 6.3 billion to VND 12.9 billion. Selling expenses increased by 11%, reaching VND 117.3 billion. General and administrative expenses decreased by 21% to VND 13.8 billion.


In 1961, Lan Hao Cosmetics Manufacturing Company Limited was established with Thorakao branded product lines, focusing on beauty uses with the principle of quality leading, natural

In 1969, the company officially had a branch in Cambodia and started exporting products to other Southeast Asian countries. In addition to the prestigious Thorakao Cosmetics brand, the company also owns many other well-known brands in foreign markets such as: Singapore, Taiwan, Cambodia, Laos, China, Korea, Australia, New Zealand, Switzerland, USA, Saudi Arabia, Dubai, Egypt, Russia, African countries...

Lan Hao Cosmetics Manufacturing Company Limited

Currently, Lan Hao has invested to expand the factory in Ho Chi Minh City to 50,000m2 with clusters of factories and modern equipment to meet competitive needs in the context of economic globalization.

Alice Hoang Thao - VietnamCredit

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