Vietnam Briefing has developed into a premium source for insight on doing business in Vietnam. Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. 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%. https://www.facebook.com/cocodressingroom/. Heres this weeks Vietnam News in Brief. Some Vietnamese fashion designers are gaining popularity not only within their home country but elsewhere. It is no wonder as the the labels designer Thuy Nguyen is a painter who graduated from Hanoi Fine Art University. our latest doing business publications, and access to our Asia archives. A guide to unlocking opportunity in emerging and frontier fashion markets. 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. 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. How much does it cost to start a luxury clothing brand? Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. The rising number of millionaires and brand loyalty among customers are anticipated to fuel the growth. Top 20 Luxury Fashion Brands in The World 2023 Luxury brands remain gung-ho about Vietnam despite pandemic Lam was a runner-up in Vietnam Project Runway in 2013 and became Elle Designer of the Year in 2014 for his first label LAM GIA KHANG. They respect every single person in their production chainfor example, they have always worked with the same printer because they really want to support his business. You must have branding services to create your brand image and give an assertive message to your target audience. With the small quantities of leftover fabric, she makes small accessories like wallets and passport covers. This passion was behind her founding of The Factory Contemporary Arts Centre in Ho Chi Minh City, in 2016. Sales have plummeted, leading to forecasts for a precipitous decline in 2020 revenue and massive uncertainty about the ability of many brands to rebound. 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. Vietnams personal luxury goods market reached US$976 million in 2021 and is expected to grow 6.67 percent annually as per Statista. With the worldwide success her two labels have achieved, Phuong My has been named one of the top 30 most successful Vietnamese people under 30 by Forbes Vietnam in 2015. 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. 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. 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. In the meantime, brands that have not been popular in Vietnam such as Off-White, Ambush, and Amiri have also started to open their first flagship store in Ho Chi Minh City. Visit their website to see how their services can help your business succeed. When international brands map out their Southeast Asia expansion strategies, Singapore and Thailand are usually top priorities followed by Malaysia and Indonesia. Mara Hoffman is a premium fashion designer that creates luxury basics, knitwear, outerwear, and swimwear out of hemp, recycled textiles, and other eco-friendly materials. And even though Indonesias population size is nearly three times bigger than Vietnams, it has only marginally more millionaires. Tiffany & Co and Montblanc, and Christian Louboutin have also begun to open their first stores in Hanoi and Ho Chi Minh City. 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. In a report titled "Has Luxury Gone too Mass? Luxury Apparels Market Competitor Analysis Some key players operating in the global luxury apparel market are Prada S.p.A., LVMH Mot Hennessy Louis Vuitton, Herms International S.A., Capri Holdings Limited, and Kering. As Linda Mai Phung got ready for the launch of SUPER VISION, a new cycling-focused European streetwear brand, we met to get her guide to five Vietnamese fashion brands pursuing sustainability. After being here for ten years Ive heard so many people say they believed international brands would not last [long but its] not true, said Loic Gautier, founder and CEO of Leflair, Vietnams e-commerce platform dedicated to luxury goods. An analysis of consumers in the United Arab Emirates and Saudi Arabia from BoF Insights reveals whats at stake for both local and global brands in an industry in the midst of vast change. Top 15 Most Popular Luxury Brands Online - Luxe Digital "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. And top tier brands have done very well even during Covid-19, added Gautier. I understand how hard it can be hard for a Vietnamese fashion brand to get fabric from a supplier when ordering small quantities. I love fashion and I want to continue to express our world through it. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. 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. Peace United Street Warriorz or PUSW is street style brand with a great story. Vietnam's Luxury Market: An Appetite for High-End Products I want customers to know what theyre paying for, explains Morgan. 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. Gucci and Tiffany are among the brands investing in the Southeast Asian market. In the new Vietnam, theres an emerging environmental consciousness happening as the country grows economically. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. 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.. While the most exclusive luxury brands sell truly expensive and uniquely stylish pieces, fashion houses from Salvatore Ferragamo . Luxury's Southeast Asia E-Commerce Opportunity | BoF I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes. Morgan Truong founder of Profile Man. 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. We all have days when we just dont know what to wear. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. Although Rusteas pieces are simple, Jo still encourages customers to style pieces however they want. Why the mid-market segment of fashion retail in Vietnam is ripe for Using linen, a natural fabric, to make 90% of its clothes, this brand offers comfortable, airy designs perfect for Vietnams tropical climate. SSENSE's luxury fashion affiliate program is available through two networks: SOVRN and Skimlinks. The majority of the luxury segment in retail is consolidated under a few conglomerates. For now, the brand exclusively offers mens clothes, but will use leftover fabric to design womens clothing in the future. 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. Metiseko is known for its casual, comfortable style that appeals to both older and young people alike. Offsetting emissions is also in the hands of the consumerthey can pressure more brands and suppliers to change their practices, Linda explains. Voting Rules. The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. But Vietnam should no longer be an afterthought, say Vietnam-based industry veterans who contend that the market is underserved. Luxury brands see great potential in Vietnam 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. 35 Top Designer Brands You Need To Know Right Now (2023 List) The 10 Most Popular Luxury Brands In the World - Next Luxury The rise in CAGR is attributable to this market's demand and growth, returning to pre-pandemic levels once the pandemic is over. 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. The increase in privately-owned cars also significantly impacts the demand for some segments of high-end apartments, resort real estate, and land plots. Brands like Chanel and Victoria Beckham exude classic style, whereas designer brands such as Off-White and Vetements appreciate current urban fashion. 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. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. Shopping Clothes in Vietnam - Everything You Need To Know Luxury Brand: Definition, Characteristics & Examples The gap between Vietnams increasingly diverse tourism sector and Thailands more advanced travel retail market also has the potential to narrow. 10 Vietnamese Product Designers You Should Know SUPER VISION is also taking sustainability to another level with its zero kilogram carbon dioxide emission goal to create the smallest footprint possible. The epitome of luxury fashion, Gucci remains the world's top fashion brand and second-biggest luxury brand in the world. There is very little formal retail industry training in the country, aside from companies own in-house programmes. 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. Although Vietnamese fashion is still its nascent stage, it is slowly and surely making its mark on the world. CONG TRI is the go to brand for any stylish woman, and has been worn by many Vietnamese A-list celebrities. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. Vu Thao runs an eco-friendly clothing company called Kilomet 109, which creates some of the most natural outfits in fashion. Luxury brands have started to inject investment in retail outlets where clients are underserved. 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. 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. Our world-class team of fashion and luxury consulting experts applies expertise, proprietary tools, and Future of Retail framework across every facet of the value chain. 1992-2023 Dezan Shira & Associates All Rights Reserved. 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. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. As Southeast Asias undisputed international shopping hub with more than 10 times the number of high-net-worth individual (HNWI) residents (US dollar millionaires) than Vietnam, Singapore is clearly in a different league. Bottega Veneta It has become a norm to see models, celebrities, and. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. A remarkable point is that the decoration style of these stores always has bright lights and dynamic staff. Best Luxury Brands | Top Rated Luxury Brands - Ranker Rustea founder Jo Lams philosophy is to use 100% natural fabrics. 10 Fashion Designers You Need to Know in Vietnam - Culture Trip We didnt even know that the term sustainable existed in fashion. Here are our top 8 fashion boutiques worth checking out in town. A New Era and a New Look for Luxury | BCG - BCG Global This caused frustration among investors, said Matthew Lourey, managing partner of Acclime Vietnam, in a recent interview with Vietnam Investment Review. Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. From dreamy to frenetic. Strongly influenced by the image of Asian women and their exquisite virtues, Phuong Mys designs emphasize feminine silhouettes with a modern twist. "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 . 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. 2022 . 3. 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. 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. Fashion should be expressive. I know a lot of distributors and companies that have seen their e-commerce share of revenue go from 5 percent to 25-30 percent, said Gautier. 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. CONG TRI is a subsequent luxury label in Vietnam which is established by Nguyen Cong Tri - the most Vietnamese famous fashion designer. Vietnam's Luxury Market Is Heating Up | BoF - The Business of Fashion 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. The longer global luxury brands hesitate to ramp up investment, say insiders, the longer local designer brands have to take market share. Vietnamese Fashion Brands: A Guide To Five Sustainable Labels SHOP MEN. 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 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. 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.. For example, LVMH is a conglomerate specializing in luxury goods, and owns some of the most popular luxury brands, such as Louis Vuitton, Fendi, Christian Dior, Givenchy & Marc Jacobs. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. Moi Dien, which translates as outspoken, boasts a loud, daring unisex style. Ethical Designer Clothing | Ethical Consumer The European UnionVietnam Free Trade Agreement (EVFTA) should help stimulate more brands to do just that. What Morgan might be able to do is contact suppliers at the end of the season to purchase leftover fabric at a discounted price. In 2019, Moi Dien was one of the 16 finalist in the London International Fashion Showcase. 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. food guides for places to eat in Vietnam! The fashion house has a reputation for being one of the most expensive clothing brands in the world. The dresses are often compared to pieces of art, looking like wearable paintings. This made Instagram a valuable platform for advertising, and influencers valuable assets for marketing . 2022 . Women. Meanwhile, the country has a relatively young population, with a median age of 32.5 years. Luxury Apparel Market Share & Share Report, 2025 - Grand View Research Unsubscribe anytime at the bottom of our emails. 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. 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. According to some local industry leaders, the Italian companys decision to prioritise Vietnam will herald greater investment from other brands in the months and years ahead. 4. Born into a family with a strong tradition of craftsmanship, Nguyen decided to study at the Amsterdam Fashion Institute and founded her own atelier in Paris in 2001, making both haute couture and ready-to-wear collections. They dont have to wear the clothes the way we think they should. Smart retailers have the potential to benefit from the burgeoning consumer class in Vietnam. 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. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. Her garments are a perfect balance of clean cuts, luxury fabrics, and bold patterns. Mytheresa is an online shopping destination for children's, men's, and women's luxury fashion and lifestyle design. 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. 15 Top Luxury Fashion Brands in 2022 - BrandRated Styles from Metisekos new organic cotton collection. Vietnam's startup sector benefits from a myriad of supportive policies and regulations. Women. A graduate of RMIT with a Bachelor of Fashion Merchandise Management, fashionable and straight-talking, Thu is not afraid to voice her opinions. Also, Vietnam's number of High Earners, Not Rich Yet individuals (HENRYs), and ultra-wealthy are growing. Anyone can wear the clothes that I design and I only make them with natural fabrics, explains Tom. Subscribing grants you this, plus free access to our articles and magazines. Founder Morgan Truong describes the style as minimalism with a twist. Underdeveloped corporate legislation is one of the reasons for the hesitation among foreign companies that wish to enter the country. Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. Overall, the luxury brands (these included Hugo Boss, Kering (Alexander McQueen, Gucci, Stella McCartney, etc.) 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. Through his Vietnamese fashion brand, founder Tom Trandt wants people to not be afraid to stand out and embrace their identities. Being a . 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. Featured brands. Its most popular product line includes shoes, bags, sneakers, perfumes, ready-to-wear clothes, etc. 17 Best Instagram Influencers in Vietnam in 2022 - AJ Marketing 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. 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%. The capitals of the luxurious fashion brands are mainly France, Italy, Great Britain and the USA. Its fashion items seem to be as expensive as other international brands (expect $70 for a decent dress). Lindas insights: I like the timeless style. 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. Luxury Goods Market Size & Share | Global Report [2020-2027] GlobalLinks Tran, however, says brands make an informed strategic decision on whether to go it alone or partner with an experienced local distributor. Trending now. The brand counts three boutiques in Ho Chi Minh City, including a flagship store at Hotel Continental. 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. Vietnam's Luxury Market Is Heating Up Gucci and Tiffany are among the brands investing in the Southeast Asian market. 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. A young, educated, and urban population is the backbone of consumption.

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