Coming from four generations of tailors, it is no wonder Lams works are all about attention to detail. TimTay foreground wearability and functionality in their designs. Unlike most developing economies, in Vietnam, the majority of international fashion brands are represented by distributors, with some of them having exclusive rights. Ministerial approval of business activities can also be cumbersome in this nominally communist state with sometimes opaque regulations. and Prada) came behind the high-street retailers. Here are our top 8 fashion boutiques worth checking out in town. The rising number of millionaires and brand loyalty among customers are anticipated to fuel the growth. Local fashion e-commerce start-up Coolmate, which recently completed a $1.1 million fundraising round, said its revenue last year was up 3.5 times compared to the year before, reaching $6 million. In a report titled "Has Luxury Gone too Mass? Likewise, Bvlgari decided to return to the market in March 2021 with the inauguration of its first physical store in HCM City. Since then, the designer has continued to evolve, and more recently developed an interest in avant-garde fashion, which is why he decided to found The House of NGUYEN CONG TRI, concentrated on haute couture design and employing handmade techniques like hand-ironed pleating, interlacing and sequin embellishments. Coco Dressing Room sells pre-loved clothing from various international designers and local fashion stores. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. CONG TRI is a subsequent luxury label in Vietnam which is established by Nguyen Cong Tri - the most Vietnamese famous fashion designer. 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. The statistic shows the leading fashion store brands in Vietnam in 2020, ranked by the number of stores. Louis Vuitton Louis Vuitton's immediately recognizable designs first saw the light in 1854 in Paris. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. As a result, Vietnam is rising as a strong contender to China with its low labour cost and multiple free trade agreements. One explanation is that Vietnams grey market for reselling hand-carried luxury goods is significant, despite the practice being illegal when goods exceed a certain amount. This year, Vietnam has witnessed prime apartment selling prices exceed the US$10,000 per square meter barrier, driven by local demand. The dresses are often compared to pieces of art, looking like wearable paintings. 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. 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. There are more and more international brands entering the Vietnamese market and gradually dominate such as H&M, Zara, Uniqlo, Currently, there are more than 200 foreign fashion brands from mid to high-end products that have their official stores in Vietnam. Facebook is currently the countrys most popular social-commerce platform, followed by Instagram, and the local chat-based platform Zalo. Heres this weeks Vietnam News in Brief. 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. Provided a business line is not on the [governments restricted] negative list, investors are pleasantly surprised at the potential ease of foreign ownership. Her message is getting through. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. 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. 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. Women Men Kids. Metiseko is known for its casual, comfortable style that appeals to both older and young people alike. Birthday Discount: In Vietnam, a large number of fashion stores have discount policies for customers on their birthday. Styles from Metisekos new organic cotton collection. In no order of preference, these are our top 8 Vietnamese brands worth checking out! There needs to be a holistic approach. The luxury sector can also benefit from Vietnams free trade agreements (FTAs). 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. Proficient in pattern-making and folding, her trademark motifs are 3D and asymmetric shapes, creating timeless essentials for women who are menswear enthusiasts too. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. Specialising in Ao Dai (the traditional dress of Vietnam), the brand manages to transcend expectations. Lining the famous Dong Khoi street, of course one will find the grand old fashion houses like Louis Vuitton. Unsubscribe anytime at the bottom of our emails. Prices: $60-$210. 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. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. But in fact, Hoang Tu and Hoang Anh didnt explicitly intend to make a sustainable Vietnamese fashion brand. As per Worldometer 37.7 percent of the population is urban. In the new Vietnam, theres an emerging environmental consciousness happening as the country grows economically. That drives consumers to fly overseas to purchase luxury items as opposed to buying them in Vietnam., The lack of price harmonisation across markets in the region is exacerbated by Vietnams high tax on luxury goods. And top tier brands have done very well even during Covid-19, added Gautier. 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. He opened his eponymous brand in 2014 to showcase ready-to-wear collections inspired by images of elegant, chic downtown girls. See a List of: Luxury Fashion Brands and the conglomerates they belong to. Duy Anh Fashion and Cosmetics recorded year-on-year growth of 171 percent in the last quarter of last year. The VND 350 trillion (US$15.3 billion) economic support package, which was implemented earlier this year with nearly VND 114 trillion (US$4.9 billion) allocated for the infrastructure sector, has not only had a direct impact on the real estate market in the short term but also works as a driving force for the development of the market in the coming years. With six years of experience, Devons collections have conquered fashion runways from Vietnam to Paris, and have become favorite choices of top fashion magazines such as Fabulous UK, Dep and Harpers BAZAAR. Visit their shop in Saigon! 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%. The company's smartphone, Vsmart, which was launched in 2018, quickly grew to become one of the top five brands in Vietnam. That makes Linda the perfect person to curate sustainable fashion in Vietnam. Gautier described the market as still having a challenging bottleneck for international brands. 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. 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. Not only are eco-friendly fabrics like ultra-soft denim tencel used, but the brand also embraces factory conditions that respect their workers. The Best Luxury Fashion Brands. She sees sustainable fashion as not simply making clothes but a mindful way of creating and consuming fashion. Pursuitist is luxury redefined. The ability to have all of the foreign ownership, without the explicit need for a Vietnamese national as a director, is one of Vietnams significant selling points., As the market continues to evolve, he explained, moving investors away from the traditional joint venture structures that were often required [by local regulators] to a much more competitive and practical approach, foreign brands are growing more confident and comfortable with Vietnam as an investment destination., 2022 The Business of Fashion. 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. In addition, Vietnams wine consumption accounted for 15.3 million liters in 2020. 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. For Vietnam, the textile and garment industry is one of its key industries, and Vietnam is amongst the top textile producing and apparel exporters in the world. Women. 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. 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. It stands as a model for sustainability in the industry. Founded in 2011, the high-end Vietnamese fashion brand Metiseko's concept is all in the name. 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. Gucci and Tiffany are among the brands investing in the Southeast Asian market. View Trip 2021 . For his outstanding contribution to the Vietnamese Haute Couture Industry, in 2014 Nguyen Cong Tri was the first Vietnamese to be recognized by the Asian Couture Federation. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. Rustea is a minimalist, free-size clothing brand for those who want to be cozy and comfortable. The Moi Dien Ba Gang tote bag launched in March is a prime example of Toms dedication to provide sustainable solutions to problems in the fashion sphere. The top scoring luxury brand was PVH with 57 out of 100. ; The top 5 brands alone capture 56% of the affluent consumers' attention online. Inspired by Vietnams military, it won first prize in the New Idea category at the Vietnam Collection Grand Prix 2000. A Tom Ford heavy twill blazer will set you back $2,380, while a velvet dress typically comes with a $5,350 price tag. Updated April 24, 2022 62.4k votes 9k voters 360.9k views. Examples of popular luxury fashion brands include Louis Vuitton, Burberry, Hermes, Salvatore Ferragamo, Gucci and Prada. 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). 2021 . Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. Big European luxury brands continue to appeal to the quality and logo obsessed shoppers of Asia. Lindas Insights: I like the central idea of encouraging people to be different. Often, the fabrics are leftovers from textile factories, so they can be high-quality. You are currently shipping to Vietnam and your order will be billed in USD $. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes. Morgan Truong founder of Profile Man. Luxury products are usually promoted using photographs. Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. Visit their website to see how their services can help your business succeed. 1. Before you go out and about for a day of shopping, do check out our food guides for places to eat in Vietnam! Discover 13 Best Hanoi Museums | Vietnamese History For Culture Enthusiasts, Fantastic Food to Eat in Halong Bay: 15 Delicious Dishes, Romantic Restaurants And Things To Do In Ho Chi Minh City | For Love Birds, 10 Charming Cafe Apartment Coffee Shops in Ho Chi Minh City, 194 Nguyen Dinh Chieu, District 3, Ho Chi Minh city, Vietnam, 198 Le Thanh Ton, District 1, Ho Chi Minh city, Vietnam, 132 134 Dong Khoi Street Hotel Continental Saigon, District 1, Ho Chi Minh City, Vietnam, 28 Tn Tht Thip, Bn Ngh, District 1, Ho Chi Minh City, Vietnam, 228 Nguyen Trai, District 1, Ho Chi Minh City, Vietnam, 16A L Hng Phong, District 1o, Ho Chi Minh City, Vietnam, 19-21 Dong Khoi Street, District 1, Ho Chi Minh City, Vietnam, Flagship: 101 Dong Khoi Street, District 1, Ho Chi Minh City, Vietnam, 134 Dong Khoi Street, District 1, Ho Chi Minh City, Vietnam, 212/2B Nguyn Tri, Phng Nguyn C Trinh, District 1, Ho Chi Minh City, Vietnam. Heres why. Hanoi Radio Television SSENSE's luxury fashion affiliate program is available through two networks: SOVRN and Skimlinks. "Contemporary brands perform exceptionally well for us each season and sales from brands such as Ganni, Isabel Marant, Rixo, Nanushka, Alexachung and See by Chlo are collectively up by 272 per . (Getty Images) By Khanh Linh 30 May 2022 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. 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. 3. Lam Gia Khang, born in 1990, is a breakthrough designer in the Vietnamese fashion industry. clothing manufacturing was over 70% of that slice. "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. And in their local factory, they pay fair wages to their employees and maintain safe, sanitary working conditions. BMW which used to assemble CKD in Vietnam stopped and changed their CBU importer in 2008. Customers can shop the collection online and in stores, or search Nosbyn at shopee. By signing up, you agree to our .ltr-1kby4wd-Body{font-family:var(--typography-body-font-family);font-size:var(--typography-body-font-size);line-height:var(--typography-body-line-height);background-color:transparent;cursor:pointer;transition-property:color,text-decoration;transition-duration:var(--motion-functional-duration-s);transition-timing-function:var(--motion-functional-easing-standard);-webkit-text-decoration:underline;text-decoration:underline;color:var(--colors-actions-ghost-dark-enabled-label);}.ltr-1kby4wd-Body:hover{color:var(--colors-actions-ghost-dark-hover-label);}.ltr-1kby4wd-Body:focus{transition-property:color;}Privacy Policy. From bamboo furniture to graceful gemstone jewelry, here are 10 product designers in Vietnam you should know about. The coronavirus pandemic changed it all in a few short months. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. 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. Fashion should be expressive. Ranker Shopping. Operating in a Complex Business Environment. By 2025, it is forecast to cross the US$1 billion. 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.. Prada is one of the world's leading luxury high fashion brands offering clothes, apparel, luggage and luxury goods manufactured with the finest artisanal techniques, using exquisite. There is very little formal retail industry training in the country, aside from companies own in-house programmes. 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. As international borders are only beginning to slowly reopen, no one can predict the extent to which repatriation of luxury spend back to Vietnam might fall away as both grey market activity and legitimate travel retail resumes. . 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 calendar is quite packed." Market research firm Nielsen forecasts that it will climb to 95 million by 2030. Although Vietnamese fashion is still its nascent stage, it is slowly and surely making its mark on the world. Over the past 10 years, we've completed close to 800 projects with fashion brands, apparel, luxury, and department store retailers across six continents. 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 . 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. 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. 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. Having a professional profile similar to Lam Gia Khang, Ngo Thai Bao Loan was also born in 1990, graduated from The London College for Design and Fashion and participated in Project Runway 2013. 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%. Moi Dien is street fashion meets cutting edge design. For now, the brand exclusively offers mens clothes, but will use leftover fabric to design womens clothing in the future. Peace United was born to build a Hip Hop community in Vietnam, as well as an organise street art and cultural activities. 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. After receiving his degree from Parsons School of Design, Tom knew that he wanted to establish his own Vietnamese fashion brand with bold designs and with sustainable practices. Born and raised in Danang with eight siblings, Cong Tri attended Ho Chi Minh City University of Architecture, Faculty of Industrial Fine Arts and graduated in 2001. 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 Vietnam already accounts for the third-largest ASEAN wine consumer market. SUPER VISION is a model of sustainability in the industry, plus the streetwear brand plans to make cycling sexy.. 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. As per World Data Lab, with a middle-class forecast to reach 56 million by 2030, Vietnam is set to leap eight places from its current 26th in the global ranking of 30 economies with the largest middle-class populations. Meet the firm behind our content. Knight Frank estimates that the number of people with a net worth of $1-30 million will balloon by 32 percent to over 25,800 by 2025. 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. Vietnams personal luxury goods market reached US$976 million in 2021 and is expected to grow 6.67 percent annually as per Statista. We just decided to use natural fabrics because we care about the environment, explains Hoang Anh. Moi Dien, which translates as outspoken, boasts a loud, daring unisex style. Also, I think making unisex clothes is another way to be sustainableyou and your boyfriend can share clothes!, Location: 7 Duong C22, Tan Binh, Ho Chi Minh City, Rusteasminimalist free-size styles are cosy and comfortable, like when you sip a hot cup of tea.. Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. This is one reason some brands have yet to accurately appreciate the demand or penetration for their products in the country, a retail advisor who spoke on the condition of anonymity, recently told local press outlet Phong Vu. This potent combination means that we cannot wait to see what else they come up with. He reduces waste by using leftover fabric to make accessories and has plans to use canvas to package his products instead of paper packaging. I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes, she explains. 2021 . Hoi An also offers a wide range of shops where you can get custom-made clothes, check it out! Read our full article about the evolution of the ao dai here. Profile Man, formerly known as Profile 11, is the Vietnamese fashion brand for the modern working professional. That means international brands depend on the ability of the distributors to develop and make the investment to expand their retail footprint, which creates its own set of difficulties sometimes for brands to develop properly in the market.. A remarkable point is that the decoration style of these stores always has bright lights and dynamic staff. You should raise your budget from 350$ to approximately $650. In 2020, Vietnam overtook Thailand as the Southeast Asian country with the highest ownership of iPhones by proportion of population. Voting Rules. Instagram is a visual platform that allows luxury brands to showcase their best work. Thuy is for the woman who wants to wear art. (VIFW). Sign up for promotions, tailored new arrivals, stock updates and more - straight to your inbox . Cancel. Moreover, clothing manufacturing was over 70% of that slice. Particularly, Italian luxury car brand Lamborghini announced its return this month after a year of inactivity. Top fashion ecommerce trends in 2023. our latest doing business publications, and access to our Asia archives. Strongly influenced by the image of Asian women and their exquisite virtues, Phuong Mys designs emphasize feminine silhouettes with a modern twist. 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. Country . 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. 1: 1: Porsche: Germany: $33,713M: $34,326M: AAA: AAA-2: 3: Louis Vuitton: France: $23,426M: $14,858M: AAA: AAA-3: 2 . Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. The new generation of Vietnamese fashion pioneers are bold, cosmopolitan, and very often aware of the impact that fashion has on the environment. In global. SHOP MEN. 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. Heres a list of all the key compliance, labor, and tax due dates in Vietnam. If you are in Hanoi, do also check out visionary, sustainable brand Kilomet109 and functional workwear Ngo Thai Bao Loan. It is no wonder as the the labels designer Thuy Nguyen is a painter who graduated from Hanoi Fine Art University. 1. Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. I did that many times with my brand!, Location: Nosbyn @ 77 Mac Thi Buoi, District 1, HCMC, Vietnam. One of Vietnams biggest fashion distributors, Duy Anh Fashion and Cosmetic (DAFC), added Tiffany & Co. and Montblanc to its portfolio of more than 60 international brands last year, following the return of Christian Louboutin in 2020. 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. 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. While respecting the traditional feminine style of the ao dai, Thuy transforms them into ethereal things of beauty. Celine, Dior, and Fendi are among those slated to unveil new monobrand boutiques in Manila, notes celebrity stylist Liz Uy, who is based in the Philippines capital. Luxury Fashion - Vietnam Vietnam Highlights Revenue in the Luxury Fashion segment amounts to US$288.20m in 2023. Find spotlight and explainer articles, news updates, factsheets, useful tools, as well as webinars featuring on-the-ground advisors.
