Linda Mai Phung in her office in the Evolution3 factory putting the final touches to the SUPER VISION brand. GlobalLinks Tran, however, says brands make an informed strategic decision on whether to go it alone or partner with an experienced local distributor. As much as 35 per cent of the sales of luxury brands in India are coming from non-metro cities like Aurangabad, Ludhiana, Kochi and Bellary, and luxury brands need to try much . In 2019, Moi Dien was one of the 16 finalist in the London International Fashion Showcase. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. She pointed out that Vietnam was the only Southeast Asian country whose economy grew last year. Globally, e-commerce is facing a recession, but Vietnam appears well placed to weather the storm. This year, Vietnam has witnessed prime apartment selling prices exceed the US$10,000 per square meter barrier, driven by local demand. The brand counts three boutiques in Ho Chi Minh City, including a flagship store at Hotel Continental. He reduces waste by using leftover fabric to make accessories and has plans to use canvas to package his products instead of paper packaging. Offsetting emissions is also in the hands of the consumerthey can pressure more brands and suppliers to change their practices, Linda explains. Facebook is currently the countrys most popular social-commerce platform, followed by Instagram, and the local chat-based platform Zalo. As Gautier pointed out, the interest of the brand and the interest of its distributor who might carry many brands in a portfolio may at some point diverge. Moi Dien is street fashion meets cutting edge design. Women Men Kids. Also brands such as Prada founded in 1913, Chanel founded in 1909, and Burberry founded in 1856, seem to confirm this thesis. Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. "The Vietnam market is at an ideal time for the entry of global luxury brands." 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Sign up for your complimentary subscription to our weekly newsletter here. The market is expected to grow annually by 3.19% (CAGR 2023-2028). And the cost for this could be 7200$ or more. 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. 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. SUPER VISION is also taking sustainability to another level with its zero kilogram carbon dioxide emission goal to create the smallest footprint possible. Visit their shop in Saigon! Dior continues its steady ascent. 2022 . Within the consumer electronics industry, local player Vingroup JSC offered consumers new experiences in its smartphone and television series. Car sales and wine imports, before being impacted by the pandemic, had maintained consistent growth of 12.9 percent and 9.8 percent between 2016 and 2019. Vietnamese are also buying more watches. The epitome of luxury fashion, Gucci remains the world's top fashion brand and second-biggest luxury brand in the world. 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. Inspired by Vietnams military, it won first prize in the New Idea category at the Vietnam Collection Grand Prix 2000. Apart from clothing, Metiseko also produces accessories and homeware products tailored for a refine palette. The luxury sector can also benefit from Vietnams free trade agreements (FTAs). 2021 . 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. 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. Instagram influencer marketing has been proven to bring success to brands entering Vietnam. And in their local factory, they pay fair wages to their employees and maintain safe, sanitary working conditions. In 2020, Vietnam overtook Thailand as the Southeast Asian country with the highest ownership of iPhones by proportion of population. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. SSENSE's luxury fashion affiliate program is available through two networks: SOVRN and Skimlinks. 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. They mostly get their supply from people clearing out their wardrobe. 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 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. Tom positions his sturdy tote bag, made of linen and canvas, as an alternative to leather bags. Thuy Nguyen founded Thuy Design House in 2011 with hopes of blending art and fashion. Big European luxury brands continue to appeal to the quality and logo obsessed shoppers of Asia. Pursuitists are ahead of the curve & authentic. Peace United was born to build a Hip Hop community in Vietnam, as well as an organise street art and cultural activities. With a few stores across the heart of Saigon, be sure to pay a visit to Metiseko on your trip. Photographs can invoke the same feelings of aspiration we experience when driving a luxury vehicle, wearing designer clothing, or experiencing something new. Prada's fashion is all about quality, simplicity, uniqueness, high class, and creative styles. The gap between Vietnams increasingly diverse tourism sector and Thailands more advanced travel retail market also has the potential to narrow. 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. Heres a list of all the key compliance, labor, and tax due dates in Vietnam. 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. The cost of flying to Singapore is less than US$100. However, Loans design philosophy is more quirky, which developed from her interest in unisex clothing, and style influences that include architectural forms. 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. Sported by the biggest celebrities, Gucci is an enticing brand for those who like to take some fashion risks. Manufacturing has bounced back, the Germans are coming to build a recycling plant, and Skoda will be on the streets of Vietnam in May. 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. I love fashion and I want to continue to express our world through it. Vietnams reputation as a country with a complex business culture means foreign players have historically found it harder to put down roots than in other countries in the region. A young, educated, and urban population is the backbone of consumption. Luxury brands have started to inject investment in retail outlets where clients are underserved. According to the Worlds Top Exports data, from 2018 to 2019, wine consumption increased by 173.6 percent. Though Gucci remained silent on the matter, if recent luxury market activity in the country is any indication, it is probably more a case of the former than the latter. Vu Thao runs an eco-friendly clothing company called Kilomet 109, which creates some of the most natural outfits in fashion. 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. 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. (GlobalLink). He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. 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. In French, metis or metissage is used to describe something that is a combination of two different cultures, Erwan Perzo explains. Heres this weeks Vietnam News in Brief. Gucci. This passion was behind her founding of The Factory Contemporary Arts Centre in Ho Chi Minh City, in 2016. "In French, 'metis' or 'metissage' is used to describe something that is a combination of two different cultures," Erwan Perzo explains. 1. The European UnionVietnam Free Trade Agreement (EVFTA) should help stimulate more brands to do just that. Its most popular product line includes shoes, bags, sneakers, perfumes, ready-to-wear clothes, etc. 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. 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. Although Rusteas pieces are simple, Jo still encourages customers to style pieces however they want. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. 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.. Over the past few years, aside from Vietnam International Fashion Week (VIFW) and other home-based fashion events like the Elle Fashion Show and the Fashionology Festival, Vietnamese designers have received a large number of invitations to present their collections in major fashion weeks around the world. Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. The Vietnam Briefing Magazine was first published in 2009, and is contributed to by investment professionals based in Vietnam. Although Vietnamese fashion is still its nascent stage, it is slowly and surely making its mark on the world. (Getty Images) By Khanh Linh 30 May 2022 Men, women, and children styles are available at PUSW. Save my name, email, and website in this browser for the next time I comment. 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. Subscribing grants you this, plus free access to our articles and magazines. Vietnams personal luxury goods market reached US$976 million in 2021 and is expected to grow 6.67 percent annually as per Statista. In 2011, Nguyen Cong Tri launched Kin Concept, a ready-to-wear label for urban women. While respecting the traditional feminine style of the ao dai, Thuy transforms them into ethereal things of beauty. Distributors of luxury brands in Vietnam seem to be doing well. For the woman looking for something different, elegant, timeless, theres only Gia Studios. 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. Coming from four generations of tailors, it is no wonder Lams works are all about attention to detail. But in fact, Hoang Tu and Hoang Anh didnt explicitly intend to make a sustainable Vietnamese fashion brand. Visit their website to see how their services can help your business succeed. Marc Jacobs: Quirky, Playful, and Fashion-Forward Designs. 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. 5. . The company has gained a lot of reputation for manufacturing good and healthy milk with a nearly negligible amount of contamination. 1. ", Business of Fashion asserts that 'indeed, the world's leading luxury fashion brands such as Gucci, Louis Vuitton, Dior, and Chanel,. Co-founder and designer Hoang Tu is very active so she prefers clothes that are light, comfortable, and versatile, similar to the ones she designs for the brands Casual collection.. In addition, Vietnams wine consumption accounted for 15.3 million liters in 2020. 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. Luxury fashion brands sell upscale, sought-after and expensive clothing, shoes and accessories. Finally, luxury brands should be bullish on Vietnam because there is high demand for their goods. Men. Moreover, among the most common account types followed by this market are influencers, experts, celebrities, and bloggers. Interestingly, future wealth trends appear to give Vietnam an edge over some of its regional neighbours where luxury brands continue to disproportionately invest. 17] Valentino S.p.A. Another newcomer to our list of top 100 luxury fashion brands is the Italian-based fashion brand, Valentino. 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