Alibaba unit to invest in Vietnam beauty, personal care company Hasaki

Chain aims to capture at least 35% of local market share by 2027

A cosmetics store in Hanoi. Vietnam's beauty and personal care sector is one of the country's fastest-growing consumer segments, according to cosmetics chain Hasaki. © AFP/Jiji

NGUYEN THI BICH NGOC, DealStreetAsia

November 20, 2023 15:14 JST

HANOI -- Chinese retail giant Alibaba has, through its unit Alibaba International Digital Commerce Group (AIDC), agreed to buy a minority interest in Vietnam-based cosmetics and beauty chain Hasaki, DealStreetAsia has learned.

Hasaki is backed by Hong Kong-headquartered private equity firm Excelsior Capital Asia's Vietnam fund.