Danish BankInvest Group to Partner with Vietnamese Hals Corporation

On 27 September, in the presence of representatives from the Ho Chi Minh City authority and the Danish Ambassador, BankInvest Group and Hals Corporation, a leading premium cosmetics and fragrance retailer in Vietnam, signed a strategic partnership agreement. This marked another step forward by Bank Invest Group in their business venture in Vietnam.
As the administrator of the investment facility “Private Equity New Markets” (PENM), the Danish BankInvest Group targets to support and provide capital and expertise to Vietnamese companies in a hope to improve the companies’ social and environmental standards and to implement better company conduct.
The new strategic partner to BankInvest Group, HALS, was set up in May 2006 by Mrs. Lê Hòai Anh. Hals holds the import rights for a strong portfolio of brands. Hals is a new chain of multi brand cosmetics & fragrance stores and spas. The company distributes famous brand name like Shiseido, CPB, L’Occitane, Clarins, Za, Bvlgary, Issey Miyake, J Lo, Jean Paul Gaultier, Thierry Mugler, and Calvin Klein.
Hals plans to open 30 stores in whole Vietnam. Currently, there are 8 Hals branches in HCM, Vung Tau, Hanoi, Danang, Can Tho. Hals has opened the first Esprit flagship store in Hanoi in February 2007 and a new store is under establishment in Ho Chi Minh City.
As one of the creators of the PENM which is a cooperation between Danish pension funds and the Danish Government, Ambassador Peter Lysholt Hansen commented in his congratulation speech “It is a pleasure to see the huge interest of promising Vietnamese companies such as Hals in establishing strategic partnership with BankInvest”
The partnership agreement with HALS is the third agreement to be signed since the successful launch of BankInvest in Vietnam on 23 May 2007. Earlier this summer the Danish investment bank and administrator of PENM has signed two partnership agreements, with AAA Insurance Corporation and Duc Thanh Wood Processing Company, respectively.

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