Founded in 2004 by friends Phuong Le and Binh Nguyen, HSVG was one of the first companies to bring high-quality foreign skincare products to Vietnam. Aspiring to develop more comprehensive health and beauty solutions for Vietnamese women, the firm launched the multi-brand concept Beauty Box in 2018, aiming to be the Vietnamese equivalent of Sephora or Ulta, two of the top beauty retailers in the United States.

Beauty Box supplies a wide range of high-quality products by foreign brands. They also provide professional services to provide customers with knowledge about their beauty and health routines through consultations and tutorials. By the end of last year, HSVG had grown the brand to a network of 55 stores.

Last November, HSVG became the sixth Beacon Fund portfolio company after Beacon was impressed by the company’s strong management team, robust financial management, and application of leading-edge digital tools in numerous aspects of the business.

Thanks to these factors, HSVG commands a leadership position in a high-potential market that has performed well post-COVID. This funding came at the right time, as HSVG was accelerating its transformation from a mono-brand to a multi-brand concept.

“Beacon Fund strongly impressed me with their enthusiasm, adaptability, commitment, and transparency throughout the whole investment process – these qualities are also what they look for from prospective investees. This investment from Beacon will help our expansion plans this year and our goal is to increase access to high-quality skincare and beauty products for more Vietnamese women, helping them to feel more confident and beautiful inside and out,” said Phuong Le, founder and CEO of HSVG.