Brands like Chanel and Victoria Beckham exude classic style, whereas designer brands such as Off-White and Vetements appreciate current urban fashion. Our free webinars are packed full of useful information for doing business in Vietnam. In 2019, the industrys export value of US$39 billion contributed to 16% of total GDP, and this was a year-on-year increase of over 8.3%. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. https://www.facebook.com/cocodressingroom/. Mytheresa - Luxury Fashion and Designer Shopping in the US. I still believe there is a lot of room for distributors to bring in more brands and set up more stores and operate more e-commerce platforms, Gautier adds. Its most popular product line includes shoes, bags, sneakers, perfumes, ready-to-wear clothes, etc. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. Here are 60 Best Luxury Fashion Blogs you should follow in 2023. However, Helen Sac, consultant director of WGSN Asia-Pacific, cautions that the countrys e-commerce facilities are not very sophisticated and not necessarily set up well to reach the capacity they can have online.. Luxury's Hidden Indian Supply Chain - The New - The New York Times Beware Moi Dien is not for the fainthearted customer. The company is a milk and milk-based products manufacturing company in Vietnam. Vietnam's growing luxury market, one of the most dynamic worldwide Photographs can invoke the same feelings of aspiration we experience when driving a luxury vehicle, wearing designer clothing, or experiencing something new. Bottega Veneta It has become a norm to see models, celebrities, and. TimTay is designed for people of all ages who share a love for comfort and the environment. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. The Vietnam Briefing Magazine was first published in 2009, and is contributed to by investment professionals based in Vietnam. French, American, German, and British luxury fashion brands all have their differences, made to suit any type of personality - it's up to you to choose your new favorites. 15 Top Luxury Fashion Brands in 2022 - BrandRated As per Worldometer 37.7 percent of the population is urban. The annual report on the most valuable and strongest luxury & premium Nguyen Cong Tri, the fashion designer behind the luxury brand Cong Tri, has dressed global celebrities, including Beyonc and Rihanna. GlobalLinks Tran, however, says brands make an informed strategic decision on whether to go it alone or partner with an experienced local distributor. The brand boasts clothing with elegance, poise, finesse for women and continues to expand its top-notch customer profile, from celebrities to influential social icons in Vietnam. In Vietnams fashion industry, the trend is evidenced by the growth of Vietnamese fashion brands that are developing with a dedication to sustainably. Heres why. Several luxury brands want to enter or expand their presence in Vietnam since its retail market is growing, while rentals are low compared to other Asian locations such as Singapore and Hong Kong. Starting with selling t shirts, PUSW grew into creating a whole line of Hip Hop clothes taking inspiration from music videos and photos from different countries. Metiseko is known for its casual, comfortable style that appeals to both older and young people alike. Women Men Kids. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. Moi Dien is street fashion meets cutting edge design. We just decided to use natural fabrics because we care about the environment, explains Hoang Anh. However, Loans design philosophy is more quirky, which developed from her interest in unisex clothing, and style influences that include architectural forms. With over 30 million socks manufactured annually, the Japanese brand is conscious about the it's environmental footprint. With the small quantities of leftover fabric, she makes small accessories like wallets and passport covers. SUPER VISION is also taking sustainability to another level with its zero kilogram carbon dioxide emission goal to create the smallest footprint possible. Several luxury brands want to enter or expand their presence in Vietnam since its retail market is growing, while rentals are low compared to other Asian locations such as Singapore and Hong Kong. Provided a business line is not on the [governments restricted] negative list, investors are pleasantly surprised at the potential ease of foreign ownership and the expectations of minimum, initial capital in comparison with what a number of regional competitor countries require, Lourey said. Address:6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam, Social Media License Number 530/GP-BTTTT, signed on 07/11/2022, issued of the Ministry of Information and Communications, Content Management Responsibility byPhan Nguyen Lap. In no order of preference, these are our top 8 Vietnamese brands worth checking out! Gucci is the hottest brand online, again. The above data points offer a wealth of growth opportunities for fashion and apparel retailersdespite the huge shifts in consumer behavior, global trade, and "normal" day-to-day lives for millions around the world. Apart from manufacturing the worlds big label clothes, Vietnam is also beginning to emerge as a fashion hub in its own right with homegrown designers helming the movement. Vote up the highest quality luxury brands. Finally, luxury brands should be bullish on Vietnam because there is high demand for their goods. Thuy Nguyen founded Thuy Design House in 2011 with hopes of blending art and fashion. SOVRN pays a default commission of 12% (dropping to 9% on markdown products) and cites an average order value of $231.19, with an average conversion rate of 1.1%. Specialising in Ao Dai (the traditional dress of Vietnam), the brand manages to transcend expectations. DAFCs parent company, Imex Pan Pacific Group (IPPG), led by husband-and-wife duo Johnathan Hanh Nguyen and Le Hong Thuy Tien, also signed a business cooperation agreement with the local unit of South Korean luxury retail group Lotte Duty Free in the same year to open a chain of downtown duty-free stores in Hanoi and Da Nang. In the present day, PUSW is still very much synonymous with street style and a favourite amongst Vietnamese young people who are into the Hip Hop subculture. Top Marketing Strategies for Luxury Brands in Vietnam Ranker Shopping. HANOI, Vietnam Since she began opening stores for global luxury brands in 2007, GlobalLink Co.Ltd's Chief Executive Tran Thi Hoai Anh has brought the likes of Balenciaga, The Row and Celine to Vietnamese shoppers. Tran Thi Hoai Anh, GlobalLinks founder and president, said the new store will occupy the Pham Ngoc Thach Street frontage of Diamond Plaza, adding to her portfolio of multi-brand luxury boutiques, Runway and RRR, which have several locations in both Hanoi and Ho Chi Minh City. Hoi An also offers a wide range of shops where you can get custom-made clothes, check it out! So we hitched a ride out to District 9 to hear her thoughts on five local brands pursuing sustainable fashion goals in Vietnam. A graduate of RMIT with a Bachelor of Fashion Merchandise Management, fashionable and straight-talking, Thu is not afraid to voice her opinions. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. 1992-2023 Dezan Shira & Associates All Rights Reserved. The advantage for Vietnamese designers is that they can offer customised pieces tailored specially for Vietnamese customers, while most international ready-to-wear luxury brands cant, said Trang Le, founder and CEO of Vietnam International Fashion Week (VNIW). According to Metisekos website, it is their unique textiles that makes them stand out from the crowd, We draw from inspiring Vietnamese landscapes and folk traditions to create original fabric designs that capture the essence of this enchanting country. If you have more time in Saigon, these new brands, Lykke and Giulia Fashion House have just arrived and are making a splash on the scene, while Lib is a hot favourite among the youth. Peace United Street Warriorz or PUSW is street style brand with a great story. As Hip Hop was taking over the world, Viet Max found himself immersed in the subculture and attracted to its values of social justice, peace, respect, self-worth, community, and having fun. Likewise, Bvlgari decided to return to the market in March 2021 with the inauguration of its first physical store in HCM City. Agenda-setting intelligence, analysis and advice for the global fashion community. Founded in 2011, the high-end Vietnamese fashion brand Metiseko's concept is all in the name. Lets say a Chanel bag will cost you more than US$10,000 and there is a difference in price between Singapore, Hong Kong and Vietnam, Gautier commented. MAJESTIC TURKEY BY CULTURE TRIP Travel from the bazaars of Istanbul to the beautiful beaches of Antalya. So, we need to limit its negative impact on the environment and humans., Lindas Insights:: I actually studied with Florence in Paris and designed for Metiseko. Why do so many brands manufacture in Vietnam? A Tom Ford heavy twill blazer will set you back $2,380, while a velvet dress typically comes with a $5,350 price tag. Find spotlight and explainer articles, news updates, factsheets, useful tools, as well as webinars featuring on-the-ground advisors. Vietnam's personal luxury goods market is complemented by hospitality offerings like the Dolce Hanoi Golden Lake Hotel, which markets itself as the world's first gold-plated luxury hotel. We all have days when we just dont know what to wear. Provided a business line is not on the [governments restricted] negative list, investors are pleasantly surprised at the potential ease of foreign ownership. If brands operate directly with consumers, they must have a workforce that understands the market, employees, management systems and a pathway to enter Vietnam, she added. What makes a popular luxury fashion brand? | Vogue Business Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. 16 Key Luxury Brand Distributors - Luxury Society Top-tier luxury houses like Dior, Louis Vuitton or Gucci as independent operators,, have been successful in Vietnam because they have a lot of legal and financial support to hire a good [local] business team.. 10 Best Popular Luxury Fashion Brands Made In USA | Panaprium The luxury designer is well-known for its sustainable swimsuits made from pre and post-consumer waste. The Lasting Allure Of Luxury Fashion Brands - Forbes Tien Nguyen, its deputy director in charge of luxury fashion brands, said demand from middle-class and wealthy clientele remained strong last year. In 2020, Vietnam overtook Thailand as the Southeast Asian country with the highest ownership of iPhones by proportion of population. Luxury brands spent decades turning design, aspiration, and high-quality goods into a $380 billion global behemoth. The luxury industry in Vietnam is still underserved and underestimated despite the countrys growing demographic of high income and the countrys distinct favor of luxury brands. Vietnam; At the heart of our company is a global online community, where millions of people and thousands of political, cultural and commercial organizations engage in a continuous conversation about their beliefs, behaviours and brands. Shopping Clothes in Vietnam - Everything You Need To Know SHOP MEN. That means international brands depend on the ability of the distributors to develop and make the investment to expand their retail footprint, which creates its own set of difficulties sometimes for brands to develop properly in the market.. Though the glamour quotient kept high society matrons talking about the gala for weeks, business leaders were focused on another aspect of the event that had piqued their curiosity. Pursuitists are ahead of the curve & authentic. Vietnam's personal luxury goods market is complemented by hospitality offerings like the Dolce Hanoi Golden Lake Hotel, which markets itself as the world's first gold-plated luxury hotel. The number of ultra-high-net-worth individualsin Vietnam with a worth of at least US$30 million is also forecast to increase by 26 percent to more than1,500by2026; such growth is equivalent to that in Hong Kong and Taiwan, according to an annual report by UK property consultancy Knight Frank. Dior continues its steady ascent. Created by Nancy Le after she returned home to Saigon from studying at the Academy of Art in San Francisco, Nosbyn fills the space in the market for everyday wear. our latest doing business publications, and access to our Asia archives. Vietnam Briefing offers a basic understanding of the Vietnamese New Year or Tet including customary practices that businesses should be aware of. What is behind the rise in mid-priced luxury labels? - Harper's BAZAAR Theres mass production of fabrics that contain toxic chemicals that eventually end up in landfills, explains Tom, its unethical and unsustainable., Theres mass production of fabrics that contain toxic chemicals that eventually end up in landfills, its unethical and unsustainable. Moi Diens founder Tom Trandt. You should raise your budget from 350$ to approximately $650. Moi Dien literally means mad lips in Vietnamese, which is to be outspoken. I havent been able to completely develop this part of my brand yet because its so new. 10 Vietnamese Product Designers You Should Know When Covid-19 hit, the hand-carried market supply chain all but disappeared, forcing customers to look at buying from authorised resellers or at self-operated flagship stores in the country. Not only are eco-friendly fabrics like ultra-soft denim tencel used, but the brand also embraces factory conditions that respect their workers. Women. 17 Best Luxury Affiliate Programs in 2023 (Top Offers) - Authority Hacker Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. Country . Switch to the app for an even smoother experience, Sign up for promotions, tailored new arrivals, stock updates and more straight to your inbox. Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. Lining the famous Dong Khoi street, of course one will find the grand old fashion houses like Louis Vuitton. They definitely have a holistic approach to sustainability., Locations: Mitsekos organic cotton store is at 157 Dong Khoi, District 1, Ho Chi Minh City, their Mulberry silk store at 101 Dong Khoi, District 1, Ho Chi Minh City, and four other locations in Vietnam. To Linda, its all about appreciating the art of fashion while paying attention to how the clothing was made. Mussou brought her experience in textiles to complement Perzos passion for sustainability making Metiseko one of Vietnams first fashion boutiques to be committed to fair work conditions and eco-friendliness. Learn more about Vietnamese fashion with our article about sustainable clothing, or if youre more into shopping, check out a related piece about Millennial Fashion Stores In HCMC. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . At the same time, DAFC, which runs over 60 luxury brands, including Cartier and Rolex, announced its sales in Vietnam were up by 35 percent in 2020. Top 100 Luxury Fashion Brands List | BusinessNES The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. Vietnam already accounts for the third-largest ASEAN wine consumer market. The Southeast Asian nation was of the few countries to experience GDP gains in 2020, when the world was besieged with Covid-19. The most popular Vietnamese local brands - PHILIA I understand how hard it can be hard for a Vietnamese fashion brand to get fabric from a supplier when ordering small quantities. Vietnamese Fashion For Women: 7 Of The Best Designers. Tom and his team are not afraid to produce genderless-silhouettes, source deadstock fabric and materials, and rely on the digital rather than paper to produce information. Coming from four generations of tailors, it is no wonder Lams works are all about attention to detail. Vietnam: leading fashion store brands based on store count 2020 - Statista We wanted to create a 100% environmentally and socially responsible brand made with high-end fabrics and production and distribution all in the same country, Erwan adds. Through her brand, Jo wants to make life simpler for people and reduce waste in the fashion industry. Interestingly, future wealth trends appear to give Vietnam an edge over some of its regional neighbours where luxury brands continue to disproportionately invest. Venus Tran, editor-in-chief of Harper's Bazaar Vietnam and chairwoman of Sunflower Media, notes that luxury purchases in Hanoi have been somewhat more commonplace in the past, while Ho Chi Minh. The company manufactures products like processed milk, curd, ice cream, and mayonnaise. The annual report on the most valuable and strongest luxury & premium brands Ranking Overview of all years 2022 2021 2020 2019 2018 Report view Table view Chart view 2022 . Lindas insights: I like the timeless style. CONG TRI is the go to brand for any stylish woman, and has been worn by many Vietnamese A-list celebrities. BrandZ Top 50 Most Valuable French Brands 2019 - Kantar Sported by the biggest celebrities, Gucci is an enticing brand for those who like to take some fashion risks. Lindas insights: I think Morgans emphasis on transparency is important. To achieve exclusivity, she directly imports luxury fabrics from Paris, Milan, and Hong Kong. How much does it cost to start a luxury clothing brand? Having graduated from the Academy of Art University, San Francisco, Tran Phuong My came back to Ho Chi Minh City to open her own custom label, Phuong My, in 2013. Proficient in pattern-making and folding, her trademark motifs are 3D and asymmetric shapes, creating timeless essentials for women who are menswear enthusiasts too. The company has gained a lot of reputation for manufacturing good and healthy milk with a nearly negligible amount of contamination. But basic pieces never fail usthey are long-lasting. Luxury Vietnamese consumers use Instagram to . Some Vietnamese fashion designers are gaining popularity not only within their home country but elsewhere. The firm assists foreign investors throughout Asia from officesacross the world, including inHanoi,Ho Chi Minh City, andDa Nang. Her designs use everything from nuts and coal to stone and wood for trimmings, as well as organic cotton and hemp as fabric. The 43 Top Japanese Clothing Brands for Cool Clothes (2023) She is a huge advocate for changing our consumption habits, apart from walking the talk with Coco Dressing Room, Thu often speaks at panel discussions and fireside chats around Saigon and internationally. BMW leads the premium import CBU market with the 3-Series representing sizeable sales volume. Tran believes global luxury brands in Vietnam are disadvantaged by not yet having access to professional staff training platforms. Prioritizing wearability and functionality in its designs, TimTay is designed for people of all ages who share a love for comfort and the environment. In what was one of the countrys most extravagant luxury fashion events to date, Gucci took over the opera house in April in Vietnams commercial capital Ho Chi Minh City. This passion was behind her founding of The Factory Contemporary Arts Centre in Ho Chi Minh City, in 2016. (GlobalLink). With a few stores across the heart of Saigon, be sure to pay a visit to Metiseko on your trip. Visit their website to see how their services can help your business succeed. Marking the event will be a conference hosted by the founder of Harpers Bazaar Vietnams publisher Sunflower Media and the magazines editor-in-chief Venus Tran. Johnathan Hanh Nguyen and Le Hong Thuy Tien, BoF Insights | How Middle East Consumers Shop Fashion, Explained, The Gatekeepers to Nigerias Fashion Market, Fashion in the Middle East: Optimism and Transformation, The BoF Podcast | Conflict, Climate and Todays Global Hunger Crisis. Sign up for promotions, tailored new arrivals, stock updates and more - straight to your inbox . At a 2020 customs seminar, IPPGs Nguyen said that European fashion goods entering Vietnam are subject to a tax of at least 30 percent, not including 10 percent VAT.. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. In 2010, Vietnam has imported $5.7 billion of luxury goods, increased of 14.2% from 2009 (Ministry of Industry and Trade) Vietnam is following India and China in becoming a new booming market for luxuries. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. Her garments are a perfect balance of clean cuts, luxury fabrics, and bold patterns. Thanks to these FTAs, luxury goods can become more affordable, allowing more access to shoppers. The brand counts three boutiques in Ho Chi Minh City, including a flagship store at Hotel Continental. ; The top 5 brands alone capture 56% of the affluent consumers' attention online. There is a sizable gap between Porsche and Gucci, and this has been widened over the past year. Profile Man, formerly known as Profile 11, is the Vietnamese fashion brand for the modern working professional. Nosbyn specialises in what they call lifestyle clothing and prefers not to see themselves as designer fashion they focus on everyday wearable clothing. Vietnamese Fashion For Women: 7 Of The Best Designers Vu Thao runs an eco-friendly clothing company called Kilomet 109, which creates some of the most natural outfits in fashion. "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. Luxury Fashion - Vietnam | Statista Market Forecast In this article, we spotlight seven respected designers and younger talents who are shaping the Vietnamese fashion scene focused on haute couture and ready-to-wear garments for women. Luxury brands share these features: they are expensive, high quality and long lasting, and have a limited distribution. Farfetch Viet Nam - Designer Luxury Fashion for Men & Women List of Top 50 brands of Vietnam -BeNextBrand.com Brands: Armani, Bvlgari, Bloomingdale's, Banana Republic, Ford, Ferrari, Gucci, Gap, Harvey Nichols, Maserati, Bvlgari, Boucheron, Bottega Veneta, Dolce & Gabbana, Emilio Pucci, Giorgio Armani, Gucci, Ligne Roset, Yves Saint Laurent Sustainability can also be incorporated in other aspects of the production since the origin of the fabrics isnt known., Location: 49 Cach Mang Thang Tam, District 1, Ho Chi Minh City, Address:6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam, Social Media License Number 530/GP-BTTTT, signed on 07/11/2022, issued of the Ministry of Information and Communications, Content Management Responsibility byPhan Nguyen Lap, 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. Peace United was born to build a Hip Hop community in Vietnam, as well as an organise street art and cultural activities. As a graduate of Ho Chi Minh City University of the Arts, Nguyen Cong Tri immediately impressed the industry with his very first collection Green Leaves. Within the consumer electronics industry, local player Vingroup JSC offered consumers new experiences in its smartphone and television series. These players hold a dominant share of the overall market. Globally, e-commerce is facing a recession, but Vietnam appears well placed to weather the storm. Vietnam Briefings Doing Business guide provides vital economic, geographic, and regulatory insights for business investors, managers, or expats to understand Vietnams. A young, educated, and urban population is the backbone of consumption. A Saigon-inspired design, Gia Studios style is modern and complex, and appeals to the working woman with a strong personal sense of style. He opened his eponymous brand in 2014 to showcase ready-to-wear collections inspired by images of elegant, chic downtown girls. Oh the lifestyle of the rich and the famous! Lindas Insights: I like Rusteas use of natural fabrics since theyre better for the environment than synthetic ones. Coco Dressing Room sells pre-loved clothing from various international designers and local fashion stores. Women. On top of that, there are larger in-store inventories and more [choice of] models in Singapore and Hong Kong. See a List of: Luxury Fashion Brands and the conglomerates they belong to. Founder Morgan Truong describes the style as minimalism with a twist. All rights reserved. 1: 1: Porsche: Germany: $33,713M: $34,326M: AAA: AAA-2: 3: Louis Vuitton: France: $23,426M: $14,858M: AAA: AAA-3: 2 . Sign up for your complimentary subscription to our weekly newsletter here. Additionally, a report prepared by the World Bank expects Vietnam to reach upper-middle-income status by 2035 with a per capita income of more than US$7,000. When international brands map out their Southeast Asia expansion strategies, Singapore and Thailand are usually top priorities followed by Malaysia and Indonesia.