And top tier brands have done very well even during Covid-19, added Gautier. In 2010, Vietnam has imported $5.7 billion of luxury goods, increased of 14.2% from 2009 (Ministry of Industry and Trade) Vietnam is following India and China in becoming a new booming market for luxuries. Vietnams luxury market is expected to grow significantly thanks to a growing middle class and the increasing number of high-net-worth individuals. A Saigon-inspired design, Gia Studios style is modern and complex, and appeals to the working woman with a strong personal sense of style. The finely crafted Italian pieces produced by this top designer are renowned for their high-quality and stylish designs. Distributors of luxury brands in Vietnam seem to be doing well. Known to sell quality fabrics and outfits with subtle details, Nosbyn is a good place to shop for wardrobe staples t-shirts, midi dresses, collared stops, neat skirts. Loan has been building her independent boutique, NGOTHAIBAOLOAN, since 2013. Louis Vuitton Vuittamins zip-up jacket $2,470 at LOUIS VUITTON Louis Vuitton Pochette Coussin handbag $2,530 at LOUIS VUITTON 8. 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. Gucci. Thuy Nguyen founded Thuy Design House in 2011 with hopes of blending art and fashion. Some Vietnamese fashion designers are gaining popularity not only within their home country but elsewhere. Sported by the biggest celebrities, Gucci is an enticing brand for those who like to take some fashion risks. In Vietnams fashion industry, the trend is evidenced by the growth of Vietnamese fashion brands that are developing with a dedication to sustainably. . The company manufactures products like processed milk, curd, ice cream, and mayonnaise. 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. 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. The firm assists foreign investors throughout Asia from officesacross the world, including inHanoi,Ho Chi Minh City, andDa Nang. Operating in a Complex Business Environment. Fashion. 'FARFETCH' and the 'FARFETCH' logo are trade marks of FARFETCH UK Limited and are registered in numerous jurisdictions around the world. 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. 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. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. If you are in Hanoi, do also check out visionary, sustainable brand Kilomet109 and functional workwear Ngo Thai Bao Loan. Metiseko co-founders Erwan and Florence in their 157 Dong Khoi store. Moreover, clothing manufacturing was over 70% of that slice. However, recent iterations of these laws were released in a manner that has definitely made investment far smoother.. Thu Vu, founder and CEO of Coco Dressing Room is here to break the cycle of buy-and-throw-away fashion Thu strongly believes that clothes should be worn beyond just one season. So if the size of the local luxury market is not the issue, then what is preventing some brands from investing more in Vietnam? 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. 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. Sustainability can also be incorporated in other aspects of the production since the origin of the fabrics isnt known., Location: 49 Cach Mang Thang Tam, District 1, Ho Chi Minh City, Address:6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam, Social Media License Number 530/GP-BTTTT, signed on 07/11/2022, issued of the Ministry of Information and Communications, Content Management Responsibility byPhan Nguyen Lap, 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. With the small quantities of leftover fabric, she makes small accessories like wallets and passport covers. The new generation of Vietnamese fashion pioneers are bold, cosmopolitan, and very often aware of the impact that fashion has on the environment. 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. CONG TRI is the go to brand for any stylish woman, and has been worn by many Vietnamese A-list celebrities. It is no wonder as the the labels designer Thuy Nguyen is a painter who graduated from Hanoi Fine Art University. 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. But basic pieces never fail usthey are long-lasting. Vietnams high spenders choose premium, expensive wines mostly from France, Italy, Chile, the US, and Australia with French wines representing 35 percent of the market share. 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. In the new Vietnam, theres an emerging environmental consciousness happening as the country grows economically. With over 30 million socks manufactured annually, the Japanese brand is conscious about the it's environmental footprint. The capitals of the luxurious fashion brands are mainly France, Italy, Great Britain and the USA. Facebook is currently the countrys most popular social-commerce platform, followed by Instagram, and the local chat-based platform Zalo. Visit their website to see how their services can help your business succeed. GlobalLinks Tran, however, says brands make an informed strategic decision on whether to go it alone or partner with an experienced local distributor. . 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. 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. 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. Meet the firm behind our content. 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 . Proficient in pattern-making and folding, her trademark motifs are 3D and asymmetric shapes, creating timeless essentials for women who are menswear enthusiasts too. 3. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. 2022 . Unsubscribe anytime at the bottom of our emails. We all have days when we just dont know what to wear. The rising number of millionaires and brand loyalty among customers are anticipated to fuel the growth. Her designs use everything from nuts and coal to stone and wood for trimmings, as well as organic cotton and hemp as fabric. Voting Rules. This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. He reduces waste by using leftover fabric to make accessories and has plans to use canvas to package his products instead of paper packaging. 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. 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. 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. 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. It is about the experience, beyond just expensive products. 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. Ive been following the brand from the very beginning., I really like that they respect Vietnamese culture in every collection by sourcing their silk locally and by taking inspiration from Vietnam. SUPER VISION is a model of sustainability in the industry, plus the streetwear brand plans to make cycling sexy.. 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). The Best Luxury Fashion Brands. Nosbyn specialises in what they call lifestyle clothing and prefers not to see themselves as designer fashion they focus on everyday wearable clothing. Metiseko is known for its casual, comfortable style that appeals to both older and young people alike. They definitely have a holistic approach to sustainability., Locations: Mitsekos organic cotton store is at 157 Dong Khoi, District 1, Ho Chi Minh City, their Mulberry silk store at 101 Dong Khoi, District 1, Ho Chi Minh City, and four other locations in Vietnam. The gap between Vietnams increasingly diverse tourism sector and Thailands more advanced travel retail market also has the potential to narrow. The Vietnam Briefing Magazine was first published in 2009, and is contributed to by investment professionals based in Vietnam. Discover the latest in . 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. 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 . Founded in 2011, the high-end Vietnamese fashion brand Metisekos concept is all in the name. A 2016 KnowtheChain ranking of the top 20 fashion brands' efforts to eradicate forced labour had similar findings. Get 10% off your first order. The luxury sector can also benefit from Vietnams free trade agreements (FTAs). 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. Luxury products are usually promoted using photographs. Updated April 24, 2022 62.4k votes 9k voters 360.9k views. A graduate of RMIT with a Bachelor of Fashion Merchandise Management, fashionable and straight-talking, Thu is not afraid to voice her opinions. Vu Thao runs an eco-friendly clothing company called Kilomet 109, which creates some of the most natural outfits in fashion. Moi Dien literally means mad lips in Vietnamese, which is to be outspoken. Underdeveloped corporate legislation is one of the reasons for the hesitation among foreign companies that wish to enter the country. 1: 1: Porsche: Germany: $33,713M: $34,326M: AAA: AAA-2: 3: Louis Vuitton: France: $23,426M: $14,858M: AAA: AAA-3: 2 . 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. Fashion should be expressive. There needs to be a holistic approach. Brands like Chanel and Victoria Beckham exude classic style, whereas designer brands such as Off-White and Vetements appreciate current urban fashion. In 2019, Moi Dien was one of the 16 finalist in the London International Fashion Showcase. In Vietnam, Instagram is the 5th most-used social media platform for 2022. 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. Cancel. 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. Take a trip to Ho Chi Minh Citys central districts to understand the fashion renaissance bourgeoning. Peace United was born to build a Hip Hop community in Vietnam, as well as an organise street art and cultural activities. Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. "The appetite for luxury goods is more pronounced than ever in the country's capital Hanoi and in Ho Chi Minh City," says Tran Thi Hoai Anh (Tran Anh), who also owns high-end . Luxury brands such as Louis Vuitton, Chanel and Herms dominate the BrandZ TM Top 50 Most Valuable French Brands 2019 ranking, demonstrating the powerful position of traditional fashion houses within the country's corporate landscape.. 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. Heres eight of them. The brand is known for using traditional materials like Vietnamese silk and brocade, paired with intricate beading and embroidery work. 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. Hanoi Radio Television It publishes business news concerning foreign direct investment into Vietnam, including the most important tax, legal and accounting issues. 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. See a List of: Luxury Fashion Brands and the conglomerates they belong to. All rights reserved. Often, the fabrics are leftovers from textile factories, so they can be high-quality. Vietnam's Luxury Market Is Heating Up Gucci and Tiffany are among the brands investing in the Southeast Asian market. Here are our top 8 fashion boutiques worth checking out in town. Founded in 2002, Nem is a luxury Vietnamese fashion brand offering its branches all over the countries. Metisekos co-founder and general director Erwan Perzo was raised in a household with Vietnamese and French cultures so he wanted to mix both those elements in Metisekos designs. Top fashion ecommerce trends in 2023. But Vietnam should no longer be an afterthought, say Vietnam-based industry veterans who contend that the market is underserved. 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. At present, they have a permanent store in the city centre at The Joi Factory, an ideal place to pick out items and have a cup of coffee. 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. As per Worldometer 37.7 percent of the population is urban. You should raise your budget from 350$ to approximately $650. Lindas Insights: I like Rusteas use of natural fabrics since theyre better for the environment than synthetic ones. Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. Our free webinars are packed full of useful information for doing business in Vietnam. Why do so many brands manufacture in Vietnam? Thats what makes a fashion brand sustainable, Jo explains. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. Oh the lifestyle of the rich and the famous! According to the Worlds Top Exports data, from 2018 to 2019, wine consumption increased by 173.6 percent. 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. 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. Subscribe to receive weekly Vietnam Briefing news updates, By 2026, the country will have25,812 high-net-worth individuals(UHNW)with liquid assets of at least US$1 million. 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. We didnt even know that the term sustainable existed in fashion. While respecting the traditional feminine style of the ao dai, Thuy transforms them into ethereal things of beauty. 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. In the duration of 2017-2022, the GDPs of Mumbai and Kolkata are expected to grow by 28% and 29% respectively, while Bangalore is expected to register a growth of 48%. 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. (VIFW). 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 Lindas Insights: I like the central idea of encouraging people to be different. Most recently, Swedish actress Rebecca Ferguson wore an off-the-shoulder gown designed by Cong Tri at the premiere of blockbuster Dune at 2021 Toronto International Film Festival. "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 . Unsubscribe anytime at the bottom of our emails. This passion was behind her founding of The Factory Contemporary Arts Centre in Ho Chi Minh City, in 2016. Examples of popular luxury fashion brands include Louis Vuitton, Burberry, Hermes, Salvatore Ferragamo, Gucci and Prada. 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. To be trendsetters, broadcasting the latest buzz. Nguyens impeccable contemporary cuts are infused with poetic details such as handmade embroidery. While the most exclusive luxury brands sell truly expensive and uniquely stylish pieces, fashion houses from Salvatore Ferragamo . 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The calendar is quite packed." Luxury car brands are expanding their presence in Vietnam. From bright to subtle. We also maintain offices or have alliance partners assisting foreign investors inIndonesia,India,Singapore,The Philippines,Malaysia,Thailand,Italy,Germany, and theUnited States,in addition to practices inBangladeshandRussia. Tabio. The future is also bright for VinFast, the Vietnamese automaker, which has begun delivering its battery-electric SUV the VF-31- to customers in its home market. 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. Because you do need a professional design. As a famous Local Brandwith diverse designs from T-shirts, Hoodies, Croptops, shirts, tote bags, hats, keychains. 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. 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. For more information read our Terms & Conditions. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition.