As per Worldometer 37.7 percent of the population is urban. Women. The capitals of the luxurious fashion brands are mainly France, Italy, Great Britain and the USA. Since the launch of the economic reform policy called Doi Moi in 1986, Vietnam has grown from one of the worlds poorest countries to a middle-income economy. Instagram influencer marketing has been proven to bring success to brands entering Vietnam. 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. Others argue that Vietnam merely got bumped up the pecking order because of greater pandemic restrictions elsewhere. 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. and Prada) came behind the high-street retailers. And Lam Gia Khang still produces distinctly modern feminine tailoring using high-end fabrics and employing skilled folding techniques. Its share of search interest continues to decline, however (from 17.5% in 2020 to 15.2% in 2021 and now 14.8% in 2022). GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. For now, the brand exclusively offers mens clothes, but will use leftover fabric to design womens clothing in the future. Manufacturing has bounced back, the Germans are coming to build a recycling plant, and Skoda will be on the streets of Vietnam in May. "In French, 'metis' or 'metissage' is used to describe something that is a combination of two different cultures," Erwan Perzo explains. But basic pieces never fail usthey are long-lasting. Luxury brands spent decades turning design, aspiration, and high-quality goods into a $380 billion global behemoth. Although beer remains the most popular alcoholic beverage, the countrys growing middle class is beginning to have an appetite for more sophisticated and premium wine. GlobalLinks Tran, however, says brands make an informed strategic decision on whether to go it alone or partner with an experienced local distributor. The Motley Fool recommends Burberry Group Plc, Diageo Plc, RH, and Tapestry and recommends the following options: long January 2025 $47.50 calls on Nike, long March 2023 $120 calls on Apple, short . Voting Rules. Though growth fell marginally last year due to several months of national lockdown resulting from the Delta variant outbreak, the economy is predicted to rebound to 5.5 percent growth this year. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. The fashion house has a reputation for being one of the most expensive clothing brands in the world. Previously, Gautier was the chief growth officer at Maison Retail Group, a distributor of about 20 international brands in the country, including Coach, Dsquared2 and Puma. She believes that there are two components to sustainabilitytraceability and transparency. Traceability lies in fabric production. Starting from a small out of the way studio, Moi Dien, living their brand story, has grown from strength to strength. Even their leftover fabric is used to make small accessories like bags, earrings, and bracelets that are sold in the store. Vietnam was one of only a few countries in Asia to be chosen by Gucci to host such an event and the others were mostly larger luxury markets like Japan. 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 in Vietnam. Brands are partnering with Lagos-based talent to help them navigate the complexities of the countrys billion-dollar fashion market and create a ripple effect across the African continent. Also, Vietnam's number of High Earners, Not Rich Yet individuals (HENRYs), and ultra-wealthy are growing. And even though Indonesias population size is nearly three times bigger than Vietnams, it has only marginally more millionaires. Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. Peace United Street Warriorz or PUSW is street style brand with a great story. Top fashion ecommerce trends in 2023. This is one reason some brands have yet to accurately appreciate the demand or penetration for their products in the country, a retail advisor who spoke on the condition of anonymity, recently told local press outlet Phong Vu. In Vietnam, [affluent] people couldnt travel outside the country and had nothing to do with their money, so they kept on spending greatly on luxury goods. Particularly, Italian luxury car brand Lamborghini announced its return this month after a year of inactivity. All rights reserved. A 2016 KnowtheChain ranking of the top 20 fashion brands' efforts to eradicate forced labour had similar findings. For every collection, the core philosophy is the use of 100% natural fabrics. You are currently shipping to Vietnam and your order will be billed in USD $. The degree to which Vietnam is underserved by global luxury brands is hard to estimate but the gap that exists in an adjacent high-end sector, the premium smartphone market, is revealing. Styles from Metisekos new organic cotton collection. These players hold a dominant share of the overall market. 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Brands that understand how to build long-term relationships with their customers will also learn how to serve them better in the future when they reach peak earning potential. This made Instagram a valuable platform for advertising, and influencers valuable assets for marketing . Unlike most developing economies, in Vietnam, the majority of international fashion brands are represented by distributors, with some of them having exclusive rights. They dont have to wear the clothes the way we think they should. Luxury Vietnamese consumers use Instagram to . 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. Decision Labs Connected Consumer report suggests 46 per cent of consumers started adopting social commerce around two to five years ago, marking the time frame for a surge in its popularity in Vietnam. 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. The regions $89 billion fashion industry is set for unprecedented change in the upcoming years thanks to a mix of factors, from shifting consumer behaviours to new government investment policies, according to BoF Insights new report. With over 30 million socks manufactured annually, the Japanese brand is conscious about the it's environmental footprint. But she is actively developing the transparency of Profile Man. Visit their website to see how their services can help your business succeed. 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. Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. Nguyens impeccable contemporary cuts are infused with poetic details such as handmade embroidery. Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. For the more exclusive Gia Studios, for a period of time, Lam carried out a by-appointment-only concept at the Park Hyatt hotel, and now his flagship store is opened in the heart of Saigon. 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. 2021 . Take a tour across Ho Chi Minh City and you will see plenty of women wearing Nosbyns comfortable and accessible designs. But, according to estate agent Knight Franks 2021 wealth report, Vietnam already has more wealthy people able to afford luxury goods than Malaysia. 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. 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. All rights reserved. Specialising in Ao Dai (the traditional dress of Vietnam), the brand manages to transcend expectations. I want people to feel cozy in the clothes like when you sip a hot cup of tea, founder Jo Lam explains about the concept behind the Vietnamese fashion brand. For Nguyen, fashion isnt just fashion, but a dialogue between art, clothing, and textile. Bottega Veneta It has become a norm to see models, celebrities, and. For the woman looking for something different, elegant, timeless, theres only Gia Studios. She expresses her obsession with traditional values through signature designs, Asian paintings on traditional Vietnamese silk brocades, and by reimagining Vietnams traditional dress, the ao dai. Gia Studios founded in 2018 by Vietnamese designer Lam Gia Khang who first discovered his love for fashion at eight when the tailoring tools in his mothers shop became his toys. This potent combination means that we cannot wait to see what else they come up with. In addition, Vietnams wine consumption accounted for 15.3 million liters in 2020. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. Sported by the biggest celebrities, Gucci is an enticing brand for those who like to take some fashion risks. The agreement, which took effect in August 2020, saw Vietnam reduce import tax by 65 percent for goods from the EU, with the remainder being removed over a 10-year period. In 2019, Moi Dien was one of the 16 finalist in the London International Fashion Showcase. The rising number of millionaires and brand loyalty among customers are anticipated to fuel the growth. (GlobalLink). TimTay is designed for people of all ages who share a love for comfort and the environment. 1. With a core aesthetic that combines both masculine and feminine styles, Devon focuses on innovative silhouettes with a distinctive use of digital printing and bold embroidery. Take a trip to Ho Chi Minh Citys central districts to understand the fashion renaissance bourgeoning. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. 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). SSENSE's luxury fashion affiliate program is available through two networks: SOVRN and Skimlinks. Tjada DOyen McKenna, the CEO of Mercy Corps, shares insights on growing global food insecurity and deepening inequality. ", Business of Fashion asserts that 'indeed, the world's leading luxury fashion brands such as Gucci, Louis Vuitton, Dior, and Chanel,. TL;DR: Several luxury brands had notable shifts in our annual ranking. 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. After that, she launched MYMY by PHUONG MY, a more accessible offshoot of the label, in 2015. The brand counts three boutiques in Ho Chi Minh City, including a flagship store at Hotel Continental. In no order of preference, these are our top 8 Vietnamese brands worth checking out! The top scoring luxury brand was PVH with 57 out of 100. . Name . Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. Each product has a code with the kilograms of carbon dioxide emission and the number of kilometers cycling it translates to. Fashion should be expressive. Linda has launched SUPER VISION, a cycling-focused urban streetwear brand offering fashionable, functional clothing to the European market. For both the luxury and non-luxury fashion sectors, Vietnam saw tremendous growth in e-commerce channels over the course of the pandemic, with Shopee, Lazada and Tiki as leading players. Men. Tien Nguyen, its deputy director in charge of luxury fashion brands, said demand from middle-class and wealthy clientele remained strong last year. 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. While the most exclusive luxury brands sell truly expensive and uniquely stylish pieces, fashion houses from Salvatore Ferragamo . Vietnams personal luxury goods market reached US$976 million in 2021 and is expected to grow 6.67 percent annually as per Statista. Finally, luxury brands should be bullish on Vietnam because there is high demand for their goods. 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., For Florence, the companys other co-founder, Metisekos mission to promote sustainable practices in the fashion industry is personal. Lining the famous Dong Khoi street, of course one will find the grand old fashion houses like Louis Vuitton. Distributors of luxury brands in Vietnam seem to be doing well. However, recent iterations of these laws were released in a manner that has definitely made investment far smoother.. our latest doing business publications, and access to our Asia archives. Vietnam recently has signed several new-generation FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam FTA (EVFTA), the UK-Vietnam FTA(UKVFTA), and most recently the Regional Comprehensive Economic Partnership (RCEP), where tariffs and regulatory barriers are reduced. 4. As a fresh graduate from The London College for Design and Fashion, he won the first prize in the Vietnam Belve Fashion Design Awards 2012 and was the runner-up in Project Runway 2013. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. Some Vietnamese fashion designers are gaining popularity not only within their home country but elsewhere. Find spotlight and explainer articles, news updates, factsheets, useful tools, as well as webinars featuring on-the-ground advisors. Sustainable fashion isnt just about using natural fabrics. Through her brand, Jo wants to make life simpler for people and reduce waste in the fashion industry. Until now, Nguyen Cong Tri has successfully introduced seventeen collections to the world that include, most notably, his latest, Em Hoa, which garnered widespread media attention after being featured in Vogue fashion magazine while being worn by singers like Rihanna and Katy Perry. It publishes business news concerning foreign direct investment into Vietnam, including the most important tax, legal and accounting issues. Unsubscribe anytime at the bottom of our emails. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. The list addresses all budgets and all types of clothing, whether you are in the market for high-end evening wear, a stunning ao dai, or edgy avant garde street wear, Ho Chi Minh City has got you covered. 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. Tabio. For more information read our Terms & Conditions. Metiseko was founded almost a decade ago by Florence Mussouand Erwan Perzo in Hoi An. Get 10% off your first order. As Vietnamese fashion for women continues to take great strides into the high-end international market, weve put together a list of seven designers. Knowing her target audience, Coco Dressing Room runs pop-ups in cool, hip places across Ho Chi Minh City like Lusine and Le Cafe Des Stagiaires. I see it as upcyclingusing leftover fabrics to make new designs., Location: 26 Ly Tu Truong 31D, District 1, Ho Chi Minh City. We all have days when we just dont know what to wear. Switch to the app for an even smoother experience, Sign up for promotions, tailored new arrivals, stock updates and more straight to your inbox. It is no wonder as the the labels designer Thuy Nguyen is a painter who graduated from Hanoi Fine Art University. With four years of experience, Loan is a designer who shows great promise in the Vietnamese fashion industry. Although Rusteas pieces are simple, Jo still encourages customers to style pieces however they want. Vote up the highest quality luxury brands. As Gautier pointed out, the interest of the brand and the interest of its distributor who might carry many brands in a portfolio may at some point diverge. His brand CONG TRI is known for producing unique womens day and evening wear with fashion-forward designs with traditional hand-made techniques, with a particular emphasis on jewel and sequin embellishments. From bamboo furniture to graceful gemstone jewelry, here are 10 product designers in Vietnam you should know about. CONG TRI was showcased at New York Fashion Week (NYFW) in 2019 for the first time the NYFWs official website wrote in the introduction about Tri, each of his collection is state-of-the-art and a fascinating story to be told. Men, women, and children styles are available at PUSW. Audi CBU overtook Mercedes-Benz to reach the second position since 2010 in imported luxury CBU and enjoys the stronger growth since then. See a List of: Luxury Fashion Brands and the conglomerates they belong to. We didnt even know that the term sustainable existed in fashion. This will set the trend for the car market in Vietnam as other electric vehicle models have also launched in the Vietnamese market in the first half of 2022 such as the Kia EV6, Mercedes Benz EQB, Mercedes Benz EQE, and Mercedes Benz EQS. 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.. Thailands pre-pandemic HNWI tally (32,303) was greater than Vietnams (20,645) but the growth rate between 2020 and 2025 of that cohort in Vietnam (32 percent) is forecast to be almost double that of Thailand (16 percent). So we hitched a ride out to District 9 to hear her thoughts on five local brands pursuing sustainable fashion goals in Vietnam. Vietnam Briefings Doing Business guide provides vital economic, geographic, and regulatory insights for business investors, managers, or expats to understand Vietnams. The dresses are often compared to pieces of art, looking like wearable paintings. Underdeveloped corporate legislation is one of the reasons for the hesitation among foreign companies that wish to enter the country. GlobalLink, another big luxury distributor in the country which operated mono-brand boutiques for luxury labels such as Balenciaga, Celine, Givenchy, Saint Laurent and Loewe, plans to open a 700 square metre duplex store later this year in Ho Chi Minh City, housing a variety of brands, including Off-White, Ambush and Amiri. Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. The company also launched Southeast Asias second Porsche Studio in Hanoi last year, with the CEO of Porsche Asia Pacific attributing the capitals vibrant young population to the presence of the store while mentioning that Vietnam also has the youngest demographic among the companys markets. BMW which used to assemble CKD in Vietnam stopped and changed their CBU importer in 2008. Beware Moi Dien is not for the fainthearted customer. And theyre sustainable, explains Jo. In this collection, co-founders Hoang Anh and Hoang Tu highlight traditional Vietnamese craftsmanship. Its centered around using natural fibers and reducing pollution. Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. 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. Photographs can invoke the same feelings of aspiration we experience when driving a luxury vehicle, wearing designer clothing, or experiencing something new. Prices: $60-$210. DAFCs parent company, Imex Pan Pacific Group (IPPG), led by husband-and-wife duo Johnathan Hanh Nguyen and Le Hong Thuy Tien, also signed a business cooperation agreement with the local unit of South Korean luxury retail group Lotte Duty Free in the same year to open a chain of downtown duty-free stores in Hanoi and Da Nang. Vietnam's policies have allowed for vibrant trade activities with an immense, ever soaring amount of foreign investments. If brands operate directly with consumers, they must have a workforce that understands the market, employees, management systems and a pathway to enter Vietnam, she added. With consumers choosing Vietnamese natural beauty products, and with more and more organic food product stores popping up, brands are becoming conscious of their impact on the environment and the shift in consumer behavior and taste. So if the size of the local luxury market is not the issue, then what is preventing some brands from investing more in Vietnam? This Japanese brand is fixated on providing a wide range of quality socks that are both durable and comfortable. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. US. Some of these classic designer brands like Herms and Louis Vuitton originated in the 1800s but have evolved to present-day ideas. "The Vietnam market is at an ideal time for the entry of global luxury brands." Join our Facebook Group with over 168.100 travelers, expats and locals who love Vietnam. Themed ReFashion, Le said the event aims to reposition Vietnams fashion industry as one that is more sustainably minded. Vietnam is home to talented designers whose brands are increasingly being thrust into the international spotlight. 1992-2023 Dezan Shira & Associates All Rights Reserved. That makes Linda the perfect person to curate sustainable fashion in Vietnam. You should raise your budget from 350$ to approximately $650. Globally, e-commerce is facing a recession, but Vietnam appears well placed to weather the storm. The luxury designer is well-known for its sustainable swimsuits made from pre and post-consumer waste. 2023 Vietnam Is Awesome. Metiseko co-founders Erwan and Florence in their 157 Dong Khoi store. Anyone can wear the clothes that I design and I only make them with natural fabrics, explains Tom. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. Contact Informations Address: 153AB Nam Ky Khoi Nghia, Ward 6, District 3, HCMC Phone: 028 39.307.900 Email: info@pt2000.com.vn Website: https://pt2000.com.vn/ Facebook: https://www.facebook.com/pt2000.com.vn Designs of PT2000 The epitome of luxury fashion, Gucci remains the world's top fashion brand and second-biggest luxury brand in the world. Agenda-setting intelligence, analysis and advice for the global fashion community. 1: 1: Porsche: Germany: $33,713M: $34,326M: AAA: AAA-2: 3: Louis Vuitton: France: $23,426M: $14,858M: AAA: AAA-3: 2 . Kids. If you persist in peering beyond this veneer, taking a tour deeper into the alleyways of the city, you will find boutiques to fit your budget, focussed on unique looks and style, from the street fashion popular with the cool Vietnamese young people to refined chic collections appropriate for office wear or evening looks. Yet Apple has not opened a single self-operated store in the country even though it rolled out two and three locations in Thailand and Singapore respectively. CONG TRI is the go to brand for any stylish woman, and has been worn by many Vietnamese A-list celebrities. Also, I think making unisex clothes is another way to be sustainableyou and your boyfriend can share clothes!, Location: 7 Duong C22, Tan Binh, Ho Chi Minh City, Rusteasminimalist free-size styles are cosy and comfortable, like when you sip a hot cup of tea.. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. 8690427 7565603 5899505 6264703 7955323 seotmstmp mobdev. In Vietnams fashion industry, the trend is evidenced by the growth of Vietnamese fashion brands that are developing with a dedication to sustainably. 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. Customers can shop at CONG TRIs three locations at the centre of Saigon, where off-the-rack options are available, or pieces can be custom made with 10 days lead time. Provided a business line is not on the [governments restricted] negative list, investors are pleasantly surprised at the potential ease of foreign ownership. Vietnamese Fashion For Women: 7 Of The Best Designers. With a few stores across the heart of Saigon, be sure to pay a visit to Metiseko on your trip. The cost of flying to Singapore is less than US$100. Linda Mai Phung in her office in the Evolution3 factory putting the final touches to the SUPER VISION brand. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . Luxury brands share these features: they are expensive, high quality and long lasting, and have a limited distribution. Its most popular product line includes shoes, bags, sneakers, perfumes, ready-to-wear clothes, etc. We feel overwhelmed by the options in our wardrobe, none of which seem wearable. In fact, the designer has embraced ethical fashion ideals since his undergraduate years after realizing that the fashion industry is one of the biggest contributors to pollution in the world. The statistic shows the leading fashion store brands in Vietnam in 2020, ranked by the number of stores. Heres why. While hes defying gender stereotypes, hes also promoting environmental consciousness. Vietnam Briefing highlights opportunities available in the luxury market industry for investors considering the countrys growing middle class, robust economic growth, and an appetite for luxury goods. The Best Luxury Fashion Brands.