Likewise, Bvlgari decided to return to the market in March 2021 with the inauguration of its first physical store in HCM City. 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. Globetrotting Clients Want Greater Choice. 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. 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. 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. 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. 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. Vietnams luxury market is expected to grow significantly thanks to a growing middle class and the increasing number of high-net-worth individuals. Thuy Nguyen founded Thuy Design House in 2011 with hopes of blending art and fashion. 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. 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. Prada's fashion is all about quality, simplicity, uniqueness, high class, and creative styles. Also, Vietnam's number of High Earners, Not Rich Yet individuals (HENRYs), and ultra-wealthy are growing. 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Distributors of luxury brands in Vietnam seem to be doing well. 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 and Prada) came behind the high-street retailers. Women. 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. She sees sustainable fashion as not simply making clothes but a mindful way of creating and consuming fashion. The company has gained a lot of reputation for manufacturing good and healthy milk with a nearly negligible amount of contamination. Find spotlight and explainer articles, news updates, factsheets, useful tools, as well as webinars featuring on-the-ground advisors. Added to that, her collections have been exhibited in global fashion capitals like Paris, New York, Milan, and Tokyo. Thuy is for the woman who wants to wear art. Tjada DOyen McKenna, the CEO of Mercy Corps, shares insights on growing global food insecurity and deepening inequality. Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. From bamboo furniture to graceful gemstone jewelry, here are 10 product designers in Vietnam you should know about. 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. Tiffany & Co and Montblanc, and Christian Louboutin have also begun to open their first stores in Hanoi and Ho Chi Minh City. 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. View Trip Copyright 2023 FARFETCH UK Limited. Valentino has reported a 62 % increase in online sales for 2020. 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 . Audi CBU overtook Mercedes-Benz to reach the second position since 2010 in imported luxury CBU and enjoys the stronger growth since then. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . With over 30 million socks manufactured annually, the Japanese brand is conscious about the it's environmental footprint. Visit their website to see how their services can help your business succeed. 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.. Rustea is a minimalist, free-size clothing brand for those who want to be cozy and comfortable. 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. In 2019, Moi Dien was one of the 16 finalist in the London International Fashion Showcase. 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.. 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. Take a trip to Ho Chi Minh Citys central districts to understand the fashion renaissance bourgeoning. 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. The company's smartphone, Vsmart, which was launched in 2018, quickly grew to become one of the top five brands in Vietnam. 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. Jimmy Choo is a big-name luxury fashion brand known for its high-end women's . The TimTay collection, on the other hand, takes a different approach. Unsubscribe anytime at the bottom of our emails. This made Instagram a valuable platform for advertising, and influencers valuable assets for marketing . 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. See a List of: Luxury Fashion Brands and the conglomerates they belong to. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. From bright to subtle. Metiseko was founded almost a decade ago by Florence Mussouand Erwan Perzo in Hoi An. Luxury fashion brands sell upscale, sought-after and expensive clothing, shoes and accessories. 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. Women. Others argue that Vietnam merely got bumped up the pecking order because of greater pandemic restrictions elsewhere. 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. 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. An open economy: Since 1986, market reforms, collectively dubbed Doi Moi, have turned Vietnam into a coveted playing ground for global players. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. In Hanoi and Ho Chi Minh city, the luminous storefronts of luxury powerhouses like Louis Vuitton and Dior dominate prestigious . Luxury brands have started to inject investment in retail outlets where clients are underserved. SSENSE's luxury fashion affiliate program is available through two networks: SOVRN and Skimlinks. 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. Her designs use everything from nuts and coal to stone and wood for trimmings, as well as organic cotton and hemp as fabric. Men, women, and children styles are available at PUSW. Because you do need a professional design. Thailands pre-pandemic HNWI tally (32,303) was greater than Vietnams (20,645) but the growth rate between 2020 and 2025 of that cohort in Vietnam (32 percent) is forecast to be almost double that of Thailand (16 percent). 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. And theyre sustainable, explains Jo. 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. Smart retailers have the potential to benefit from the burgeoning consumer class in Vietnam. This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. Strongly influenced by the image of Asian women and their exquisite virtues, Phuong Mys designs emphasize feminine silhouettes with a modern twist. ; The top 5 brands alone capture 56% of the affluent consumers' attention online. TL;DR: Several luxury brands had notable shifts in our annual ranking. Meanwhile, the first Vietnamese female designer known to present a collection at New York Fashion Week, Phuong My, has her collection available across 20 countries. "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 . 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. With the small quantities of leftover fabric, she makes small accessories like wallets and passport covers. 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. Founded in 2002, Nem is a luxury Vietnamese fashion brand offering its branches all over the countries. Its centered around using natural fibers and reducing pollution. In 2011, Nguyen Cong Tri launched Kin Concept, a ready-to-wear label for urban women. Anyone can wear the clothes that I design and I only make them with natural fabrics, explains Tom. 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. Beware Moi Dien is not for the fainthearted customer. 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. Profile 11s style is minimalism with a twist designed for the modern working professional. In global. 1. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. Tom and his team are not afraid to produce genderless-silhouettes, source deadstock fabric and materials, and rely on the digital rather than paper to produce information. Cancel. 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. 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. They dont have to wear the clothes the way we think they should. Subscribing grants you this, plus free access to our articles and magazines. 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. Vietnamese are also buying more watches. Fashion. I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes, she explains. 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? Through her brand, Jo wants to make life simpler for people and reduce waste in the fashion industry. The global luxury apparel market size to be valued at USD 84.04 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% during the forecast period. In addition, Vietnams wine consumption accounted for 15.3 million liters in 2020. The gap between Vietnams increasingly diverse tourism sector and Thailands more advanced travel retail market also has the potential to narrow. 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. Luxury Fashion - Vietnam Vietnam Highlights Revenue in the Luxury Fashion segment amounts to US$288.20m in 2023. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. 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. Styles from Metisekos new organic cotton collection. Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. 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. Customers can shop the collection online and in stores, or search Nosbyn at shopee. Louis Vuitton Louis Vuitton's immediately recognizable designs first saw the light in 1854 in Paris. As per Worldometer 37.7 percent of the population is urban. After graduating from Parsons School of Design in New York, Tom Tran took a leap of faith and returned to Vietnam to start his own label. 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. And its a good idea to source 100% linen fabric from markets. Manufacturing has bounced back, the Germans are coming to build a recycling plant, and Skoda will be on the streets of Vietnam in May. 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.. 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. The fashion house has a reputation for being one of the most expensive clothing brands in the world. Lindas Insights: I like the central idea of encouraging people to be different. 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. The new generation of Vietnamese fashion pioneers are bold, cosmopolitan, and very often aware of the impact that fashion has on the environment. "In French, 'metis' or 'metissage' is used to describe something that is a combination of two different cultures," Erwan Perzo explains. 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