All rights reserved. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. 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. 2023 Vietnam Is Awesome. CONG TRI is a subsequent luxury label in Vietnam which is established by Nguyen Cong Tri - the most Vietnamese famous fashion designer. 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. The dresses are often compared to pieces of art, looking like wearable paintings. Because you do need a professional design. Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. On top of that, there are larger in-store inventories and more [choice of] models in Singapore and Hong Kong. Linda Mai Phung in her office in the Evolution3 factory putting the final touches to the SUPER VISION brand. Offsetting emissions is also in the hands of the consumerthey can pressure more brands and suppliers to change their practices, Linda explains. In a report titled "Has Luxury Gone too Mass? Tom positions his sturdy tote bag, made of linen and canvas, as an alternative to leather bags. Styles from Metiseko's new organic cotton collection. In no order of preference, these are our top 8 Vietnamese brands worth checking out! 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.. Voting Rules. Featured brands. 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. 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. Starting from a small out of the way studio, Moi Dien, living their brand story, has grown from strength to strength. Nosbyn is also one of the few Vietnamese casual clothes fashion brands to be stocked in the US in San Francisco and Los Angeles. You are currently shipping to Vietnam and your order will be billed in USD $. . Nguyen Cong Tri, the fashion designer behind the luxury brand Cong Tri, has dressed global celebrities, including Beyonc and Rihanna. 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. The company's smartphone, Vsmart, which was launched in 2018, quickly grew to become one of the top five brands in Vietnam. 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. Hoi An also offers a wide range of shops where you can get custom-made clothes, check it out! The majority of the luxury segment in retail is consolidated under a few conglomerates. There is very little formal retail industry training in the country, aside from companies own in-house programmes. This Japanese brand is fixated on providing a wide range of quality socks that are both durable and comfortable. 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. "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. In the second annual BrandZ France ranking, released today by WPP and Kantar which tracks and anticipates the evolving environment for the country's . After that, she launched MYMY by PHUONG MY, a more accessible offshoot of the label, in 2015. Coco Dressing Room sells pre-loved clothing from various international designers and local fashion stores. 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 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. ; The top 5 brands alone capture 56% of the affluent consumers' attention online. And theyre sustainable, explains Jo. Customers can shop the collection online and in stores, or search Nosbyn at shopee. Agenda-setting intelligence, analysis and advice for the global fashion community. 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. The brand counts three boutiques in Ho Chi Minh City, including a flagship store at Hotel Continental. By 2026, the country will have25,812 high-net-worth individuals(UHNW)with liquid assets of at least US$1 million. 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. In Hanoi and Ho Chi Minh city, the luminous storefronts of luxury powerhouses like Louis Vuitton and Dior dominate prestigious . Ranker Shopping. The coronavirus pandemic changed it all in a few short months. food guides for places to eat in Vietnam! 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. While hes defying gender stereotypes, hes also promoting environmental consciousness. To achieve exclusivity, she directly imports luxury fabrics from Paris, Milan, and Hong Kong. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. 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. And in their local factory, they pay fair wages to their employees and maintain safe, sanitary working conditions. Gucci and Tiffany are among the brands investing in the Southeast Asian market. 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. 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. 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Anyone can wear the clothes that I design and I only make them with natural fabrics, explains Tom. Although not strictly a fashion brand, Coco Dressing Room deserves a shout out for being one of the most innovative and outspoken fashion platforms in Vietnam. Luxury fashion brands sell upscale, sought-after and expensive clothing, shoes and accessories. In Vietnams fashion industry, the trend is evidenced by the growth of Vietnamese fashion brands that are developing with a dedication to sustainably. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . Meet the firm behind our content. Having graduated from the Academy of Art University, San Francisco, Tran Phuong My came back to Ho Chi Minh City to open her own custom label, Phuong My, in 2013. The gap between Vietnams increasingly diverse tourism sector and Thailands more advanced travel retail market also has the potential to narrow. Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. The firm assists foreign investors throughout Asia from officesacross the world, including inHanoi,Ho Chi Minh City, andDa Nang. 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. Gautier described the market as still having a challenging bottleneck for international brands. 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%. Globally, e-commerce is facing a recession, but Vietnam appears well placed to weather the storm. 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.. Grimm DC has become a favorite brand for shopaholics because everything can be found here. 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. As a result, Vietnam is rising as a strong contender to China with its low labour cost and multiple free trade agreements. 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. Our free webinars are packed full of useful information for doing business in Vietnam. 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. 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.. 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. https://www.facebook.com/cocodressingroom/. Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. 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.. And top tier brands have done very well even during Covid-19, added Gautier. Women Men Kids. Fashion should be expressive. Visit their shop in Saigon! The increase in privately-owned cars also significantly impacts the demand for some segments of high-end apartments, resort real estate, and land plots. and Prada) came behind the high-street retailers. Often, the fabrics are leftovers from textile factories, so they can be high-quality. View Trip 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. If you are in Hanoi, do also check out visionary, sustainable brand Kilomet109 and functional workwear Ngo Thai Bao Loan. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. Thuy Nguyen founded Thuy Design House in 2011 with hopes of blending art and fashion. 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 luxury designer is well-known for its sustainable swimsuits made from pre and post-consumer waste. Get 10% off your first order. All rights reserved. Prioritizing wearability and functionality in its designs, TimTay is designed for people of all ages who share a love for comfort and the environment. An aesthetic that is daring, playful, and not afraid of colour, Thuy Design House brings together tradition and ingenuity. our latest doing business publications, and access to our Asia archives. The finely crafted Italian pieces produced by this top designer are renowned for their high-quality and stylish designs. Vietnams luxury market is expected to grow significantly thanks to a growing middle class and the increasing number of high-net-worth individuals. 5. Luxury brands share these features: they are expensive, high quality and long lasting, and have a limited distribution. So if the size of the local luxury market is not the issue, then what is preventing some brands from investing more in Vietnam? 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. 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. A graduate of RMIT with a Bachelor of Fashion Merchandise Management, fashionable and straight-talking, Thu is not afraid to voice her opinions. A Saigon-inspired design, Gia Studios style is modern and complex, and appeals to the working woman with a strong personal sense of style. Market research firm Nielsen forecasts that it will climb to 95 million by 2030. Luxury brands have started to inject investment in retail outlets where clients are underserved. Switch to the app for an even smoother experience, Sign up for promotions, tailored new arrivals, stock updates and more straight to your inbox. 17] Valentino S.p.A. Another newcomer to our list of top 100 luxury fashion brands is the Italian-based fashion brand, Valentino. The fashion house has a reputation for being one of the most expensive clothing brands in the world. According to the Worlds Top Exports data, from 2018 to 2019, wine consumption increased by 173.6 percent. In French, metis or metissage is used to describe something that is a combination of two different cultures, Erwan Perzo explains. A remarkable point is that the decoration style of these stores always has bright lights and dynamic staff. Moi Dien is street fashion meets cutting edge design. Birthday Discount: In Vietnam, a large number of fashion stores have discount policies for customers on their birthday. The Southeast Asian nation was of the few countries to experience GDP gains in 2020, when the world was besieged with Covid-19. Proficient in pattern-making and folding, her trademark motifs are 3D and asymmetric shapes, creating timeless essentials for women who are menswear enthusiasts too. In this post, we discuss top consumer brands that have most or a significant amount of manufacturing in Vietnam, including: SAMSUNG NIKE INTEL FJLLRVEN ADIDAS LG THE NORTH FACE FOXCONN MERRELLS FOOTWEAR EVERLANE Other Notable Brands Where do Vietnamese shops get their discount brand-name products?