Thanks to these FTAs, luxury goods can become more affordable, allowing more access to shoppers. While hes defying gender stereotypes, hes also promoting environmental consciousness. You are currently shipping to Vietnam and your order will be billed in USD $. Hoi An also offers a wide range of shops where you can get custom-made clothes, check it out! The countrys import of watches increased by 28.2 percent annually from 2016-to 2020. SUPER VISION is also taking sustainability to another level with its zero kilogram carbon dioxide emission goal to create the smallest footprint possible. Here are 60 Best Luxury Fashion Blogs you should follow in 2023. Meanwhile, the country has a relatively young population, with a median age of 32.5 years. With a core aesthetic that combines both masculine and feminine styles, Devon focuses on innovative silhouettes with a distinctive use of digital printing and bold embroidery. I love fashion and I want to continue to express our world through it. And in their local factory, they pay fair wages to their employees and maintain safe, sanitary working conditions. You must have branding services to create your brand image and give an assertive message to your target audience. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. Country . 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. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. Born and raised in Danang with eight siblings, Cong Tri attended Ho Chi Minh City University of Architecture, Faculty of Industrial Fine Arts and graduated in 2001. 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. 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. 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. Using linen, a natural fabric, to make 90% of its clothes, this brand offers comfortable, airy designs perfect for Vietnams tropical climate. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. Vietnam Briefing highlights opportunities available in the luxury market industry for investors considering the countrys growing middle class, robust economic growth, and an appetite for luxury goods. clothing manufacturing was over 70% of that slice. Founded in 2011, the high-end Vietnamese fashion brand Metisekos concept is all in the name. Two years later, in 2015, Khang was also named in the top 30 most successful people under 30 in Forbes Vietnam. In no order of preference, these are our top 8 Vietnamese brands worth checking out! Not only are eco-friendly fabrics like ultra-soft denim tencel used, but the brand also embraces factory conditions that respect their workers. Tiffany & Co and Montblanc, and Christian Louboutin have also begun to open their first stores in Hanoi and Ho Chi Minh City. 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. Visit the Moi Dien studio, now in the heart of Ho Chi Minh City. Its centered around using natural fibers and reducing pollution. Long before coming back and opening VIFW Spring Summer 2017, Dutch-Vietnamese designer Xuan-Thu Nguyen had been recognized worldwide as a guest member of Frances Haute Couture Federation. Vietnams luxury market is expected to grow significantly thanks to a growing middle class and the increasing number of high-net-worth individuals. Nosbyn specialises in what they call lifestyle clothing and prefers not to see themselves as designer fashion they focus on everyday wearable clothing. 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. BMW which used to assemble CKD in Vietnam stopped and changed their CBU importer in 2008. To Linda, its all about appreciating the art of fashion while paying attention to how the clothing was made. Through his Vietnamese fashion brand, founder Tom Trandt wants people to not be afraid to stand out and embrace their identities. As of April 2020, Viet Tien was the leading fashion store chain with 467 . In Vietnam, Instagram is the 5th most-used social media platform for 2022. Starting from a small out of the way studio, Moi Dien, living their brand story, has grown from strength to strength. Take a trip to Ho Chi Minh Citys central districts to understand the fashion renaissance bourgeoning. . Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. 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. When asked by Vietcetera on the motivations for his collections, Lam said I dont want women to be beautiful for men, I want women to be beautiful for themselves. Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. 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. 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. Birthday Discount: In Vietnam, a large number of fashion stores have discount policies for customers on their birthday. 1. Brands like Chanel and Victoria Beckham exude classic style, whereas designer brands such as Off-White and Vetements appreciate current urban fashion. 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. While there is extreme income inequality in the country, Vietnam has seen the growth of the middle class in the last few years [which is an increasingly important consumer cohort for luxury goods here], said GlobalLinks Tran. 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.. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. 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. And top tier brands have done very well even during Covid-19, added Gautier. And its a good idea to source 100% linen fabric from markets. Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. Underdeveloped corporate legislation is one of the reasons for the hesitation among foreign companies that wish to enter the country. In her ten years in Vietnam, French-Vietnamese designer Linda Mai Phung has founded her own fashion label and worked on the Uber rebranding allowing her to gain a deep understanding of the industry here. Moi Dien literally means mad lips in Vietnamese, which is to be outspoken. 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). Kids. This Japanese brand is fixated on providing a wide range of quality socks that are both durable and comfortable. 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. 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. Because you do need a professional design. 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. And Lam Gia Khang still produces distinctly modern feminine tailoring using high-end fabrics and employing skilled folding techniques. Rustea founder Jo Lams philosophy is to use 100% natural fabrics. Gucci is the hottest brand online, again. The Porsche Center Saigon opened last year in Ho Chi Minh Citys District 7 and regards Vietnam as one of its fastest-growing markets in the Asia Pacific. That drives consumers to fly overseas to purchase luxury items as opposed to buying them in Vietnam., The lack of price harmonisation across markets in the region is exacerbated by Vietnams high tax on luxury goods. food guides for places to eat in Vietnam! Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. BMW leads the premium import CBU market with the 3-Series representing sizeable sales volume. As a result, Vietnam is rising as a strong contender to China with its low labour cost and multiple free trade agreements. But like the rest of the world, Vietnam has experienced a difficult time and stagnation during the pandemic, including poorer purchasing power, and lower demand for clothing.. ", Business of Fashion asserts that 'indeed, the world's leading luxury fashion brands such as Gucci, Louis Vuitton, Dior, and Chanel,. When international brands map out their Southeast Asia expansion strategies, Singapore and Thailand are usually top priorities followed by Malaysia and Indonesia. Bottega Veneta It has become a norm to see models, celebrities, and. 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. Ministerial approval of business activities can also be cumbersome in this nominally communist state with sometimes opaque regulations. We all have days when we just dont know what to wear. SUPER VISION is a model of sustainability in the industry, plus the streetwear brand plans to make cycling sexy.. Valentino has reported a 62 % increase in online sales for 2020. Marc Jacobs: Quirky, Playful, and Fashion-Forward Designs. Each product has a code with the kilograms of carbon dioxide emission and the number of kilometers cycling it translates to. "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. 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. 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. Its fashion items seem to be as expensive as other international brands (expect $70 for a decent dress). Instagram is a visual platform that allows luxury brands to showcase their best work. 1. Sales have plummeted, leading to forecasts for a precipitous decline in 2020 revenue and massive uncertainty about the ability of many brands to rebound. In addition, Vietnams wine consumption accounted for 15.3 million liters in 2020. GlobalLinks Tran, however, says brands make an informed strategic decision on whether to go it alone or partner with an experienced local distributor. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . Customers can shop the collection online and in stores, or search Nosbyn at shopee. Vietnam's Luxury Market Is Heating Up Gucci and Tiffany are among the brands investing in the Southeast Asian market. Moi Dien is street fashion meets cutting edge design. We didnt even know that the term sustainable existed in fashion. 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. Profile 11s style is minimalism with a twist designed for the modern working professional. After that, she launched MYMY by PHUONG MY, a more accessible offshoot of the label, in 2015. 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. A Saigon-inspired design, Gia Studios style is modern and complex, and appeals to the working woman with a strong personal sense of style. We just decided to use natural fabrics because we care about the environment, explains Hoang Anh. 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. See a List of: Luxury Fashion Brands and the conglomerates they belong to. Cong Tri Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. The cost of flying to Singapore is less than US$100. The Southeast Asian nation was of the few countries to experience GDP gains in 2020, when the world was besieged with Covid-19. Provided a business line is not on the [governments restricted] negative list, investors are pleasantly surprised at the potential ease of foreign ownership and the expectations of minimum, initial capital in comparison with what a number of regional competitor countries require, Lourey said. Johnathan Hanh Nguyen and Le Hong Thuy Tien, BoF Insights | How Middle East Consumers Shop Fashion, Explained, The Gatekeepers to Nigerias Fashion Market, Fashion in the Middle East: Optimism and Transformation, The BoF Podcast | Conflict, Climate and Todays Global Hunger Crisis. The ability to have all of the foreign ownership, without the explicit need for a Vietnamese national as a director, is one of Vietnams significant selling points., As the market continues to evolve, he explained, moving investors away from the traditional joint venture structures that were often required [by local regulators] to a much more competitive and practical approach, foreign brands are growing more confident and comfortable with Vietnam as an investment destination., 2022 The Business of Fashion. 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.. From bright to subtle. The increase in privately-owned cars also significantly impacts the demand for some segments of high-end apartments, resort real estate, and land plots. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. Gautier described the market as still having a challenging bottleneck for international brands. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. 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. Audi CBU overtook Mercedes-Benz to reach the second position since 2010 in imported luxury CBU and enjoys the stronger growth since then. Globetrotting Clients Want Greater Choice. GlobalLink, another big luxury distributor in the country which operated mono-brand boutiques for luxury labels such as Balenciaga, Celine, Givenchy, Saint Laurent and Loewe, plans to open a 700 square metre duplex store later this year in Ho Chi Minh City, housing a variety of brands, including Off-White, Ambush and Amiri. Voting Rules. 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. This passion was behind her founding of The Factory Contemporary Arts Centre in Ho Chi Minh City, in 2016. Metiseko was founded almost a decade ago by Florence Mussouand Erwan Perzo in Hoi An. The dresses are often compared to pieces of art, looking like wearable paintings. Although beer remains the most popular alcoholic beverage, the countrys growing middle class is beginning to have an appetite for more sophisticated and premium wine. 2022 . 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. Vietnam Briefingis produced byDezan Shira & Associates. This will set the trend for the car market in Vietnam as other electric vehicle models have also launched in the Vietnamese market in the first half of 2022 such as the Kia EV6, Mercedes Benz EQB, Mercedes Benz EQE, and Mercedes Benz EQS. 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. Moreover, clothing manufacturing was over 70% of that slice. It publishes business news concerning foreign direct investment into Vietnam, including the most important tax, legal and accounting issues. With consumers choosing Vietnamese natural beauty products, and with more and more organic food product stores popping up, brands are becoming conscious of their impact on the environment and the shift in consumer behavior and taste. 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%. Agenda-setting intelligence, analysis and advice for the global fashion community. In 2020, Vietnam overtook Thailand as the Southeast Asian country with the highest ownership of iPhones by proportion of population. Thuy Nguyen founded Thuy Design House in 2011 with hopes of blending art and fashion. Also brands such as Prada founded in 1913, Chanel founded in 1909, and Burberry founded in 1856, seem to confirm this thesis. Moi Dien, which translates as outspoken, boasts a loud, daring unisex style. Apr 12, 2022. 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. 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. Heres why. 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. 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. Vietnamese Fashion For Women: 7 Of The Best Designers. 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.. Instagram influencer marketing has been proven to bring success to brands entering Vietnam. The Best Luxury Fashion Brands. 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. Lindas Insights: I like Rusteas use of natural fabrics since theyre better for the environment than synthetic ones. It is about the experience, beyond just expensive products. 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.. The luxury sector can also benefit from Vietnams free trade agreements (FTAs). 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. 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. As per Worldometer 37.7 percent of the population is urban. Find spotlight and explainer articles, news updates, factsheets, useful tools, as well as webinars featuring on-the-ground advisors. Unlike most developing economies, in Vietnam, the majority of international fashion brands are represented by distributors, with some of them having exclusive rights. 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.