Although Vietnamese fashion is still its nascent stage, it is slowly and surely making its mark on the world. Because you do need a professional design. But basic pieces never fail usthey are long-lasting. Lam Gia Khang, born in 1990, is a breakthrough designer in the Vietnamese fashion industry. 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. Overall, the luxury brands (these included Hugo Boss, Kering (Alexander McQueen, Gucci, Stella McCartney, etc.) This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. food guides for places to eat in Vietnam! The firm assists foreign investors throughout Asia from officesacross the world, including inHanoi,Ho Chi Minh City, andDa Nang. Louis Vuitton Louis Vuitton's immediately recognizable designs first saw the light in 1854 in Paris. Pursuitists are ahead of the curve & authentic. 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 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. Vietnam was one of only a few countries in Asia to be chosen by Gucci to host such an event and the others were mostly larger luxury markets like Japan. 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. Provided a business line is not on the [governments restricted] negative list, investors are pleasantly surprised at the potential ease of foreign ownership. Audi CBU overtook Mercedes-Benz to reach the second position since 2010 in imported luxury CBU and enjoys the stronger growth since then. 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. 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. So we hitched a ride out to District 9 to hear her thoughts on five local brands pursuing sustainable fashion goals in Vietnam. With six years of experience, Devons collections have conquered fashion runways from Vietnam to Paris, and have become favorite choices of top fashion magazines such as Fabulous UK, Dep and Harpers BAZAAR. 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. Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. Within the consumer electronics industry, local player Vingroup JSC offered consumers new experiences in its smartphone and television series. 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. 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%. 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. 1. 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. Here are our top 8 fashion boutiques worth checking out in town. US. 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. 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. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. All rights reserved. There is very little formal retail industry training in the country, aside from companies own in-house programmes. 1. Subscribing grants you this, plus free access to our articles and magazines. Gucci and Tiffany are among the brands investing in the Southeast Asian market. "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 . 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. Grimm DC has become a favorite brand for shopaholics because everything can be found here. Since the launch of the economic reform policy called Doi Moi in 1986, Vietnam has grown from one of the worlds poorest countries to a middle-income economy. Loan has been building her independent boutique, NGOTHAIBAOLOAN, since 2013. According to the Worlds Top Exports data, from 2018 to 2019, wine consumption increased by 173.6 percent. Moi Dien, which translates as outspoken, boasts a loud, daring unisex style. So, we need to limit its negative impact on the environment and humans., Lindas Insights:: I actually studied with Florence in Paris and designed for Metiseko. our latest doing business publications, and access to our Asia archives. Vietnams personal luxury goods market reached US$976 million in 2021 and is expected to grow 6.67 percent annually as per Statista. In Hanoi and Ho Chi Minh city, the luminous storefronts of luxury powerhouses like Louis Vuitton and Dior dominate prestigious . You are currently shipping to Vietnam and your order will be billed in USD $. 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%. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. An open economy: Since 1986, market reforms, collectively dubbed Doi Moi, have turned Vietnam into a coveted playing ground for global players. . Marc Jacobs: Quirky, Playful, and Fashion-Forward Designs. 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. Tabio. Top-tier luxury houses like Dior, Louis Vuitton or Gucci as independent operators,, have been successful in Vietnam because they have a lot of legal and financial support to hire a good [local] business team.. Some Vietnamese fashion designers are gaining popularity not only within their home country but elsewhere. 2022 . In 2011, she returned to Vietnam and founded Devon London. In no order of preference, these are our top 8 Vietnamese brands worth checking out! Luxury brands have started to inject investment in retail outlets where clients are underserved. Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. Lining the famous Dong Khoi street, of course one will find the grand old fashion houses like Louis Vuitton. Cong Tri Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. For the more exclusive Gia Studios, for a period of time, Lam carried out a by-appointment-only concept at the Park Hyatt hotel, and now his flagship store is opened in the heart of Saigon. As a famous Local Brandwith diverse designs from T-shirts, Hoodies, Croptops, shirts, tote bags, hats, keychains. The market is expected to grow annually by 3.19% (CAGR 2023-2028). In 2011, Nguyen Cong Tri launched Kin Concept, a ready-to-wear label for urban women. Pursuitist | Style Women. Prada Maria Prada's very own Italian fashion house - Prada - has been a gold mine of wealthy class trends for both celebrities and anonymous elites. It is no wonder as the the labels designer Thuy Nguyen is a painter who graduated from Hanoi Fine Art University. 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.. Here are our top 8 fashion boutiques worth checking out in town. 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. 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. A remarkable point is that the decoration style of these stores always has bright lights and dynamic staff. She pointed out that Vietnam was the only Southeast Asian country whose economy grew last year. Tom positions his sturdy tote bag, made of linen and canvas, as an alternative to leather bags. 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. Additionally, a report prepared by the World Bank expects Vietnam to reach upper-middle-income status by 2035 with a per capita income of more than US$7,000. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. 1. 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. To achieve exclusivity, she directly imports luxury fabrics from Paris, Milan, and Hong Kong. Fashion. As Hip Hop was taking over the world, Viet Max found himself immersed in the subculture and attracted to its values of social justice, peace, respect, self-worth, community, and having fun. Sign up for your complimentary subscription to our weekly newsletter here. 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. 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.. 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. For every collection, the core philosophy is the use of 100% natural fabrics. I understand how hard it can be hard for a Vietnamese fashion brand to get fabric from a supplier when ordering small quantities. 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. 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. Luxury Vietnamese consumers use Instagram to . Inspired by Vietnams military, it won first prize in the New Idea category at the Vietnam Collection Grand Prix 2000. Luxury car brands are expanding their presence in Vietnam. 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. 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. As Vietnamese fashion for women continues to take great strides into the high-end international market, weve put together a list of seven designers. Peace United Street Warriorz or PUSW is street style brand with a great story. The statistic shows the leading fashion store brands in Vietnam in 2020, ranked by the number of stores. 2021 . and Prada) came behind the high-street retailers. Men. 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. Agenda-setting intelligence, analysis and advice for the global fashion community. I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes, she explains. 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. clothing manufacturing was over 70% of that slice. So if the size of the local luxury market is not the issue, then what is preventing some brands from investing more in Vietnam? Using linen, a natural fabric, to make 90% of its clothes, this brand offers comfortable, airy designs perfect for Vietnams tropical climate. With a few stores across the heart of Saigon, be sure to pay a visit to Metiseko on your trip. "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. 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. It is about the experience, beyond just expensive products. 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. This is the embodiment of their brand culture. By 2025, it is forecast to cross the US$1 billion. A young, educated, and urban population is the backbone of consumption. Name . Styles from Metisekos new organic cotton collection. Added to that, her collections have been exhibited in global fashion capitals like Paris, New York, Milan, and Tokyo. Tran believes global luxury brands in Vietnam are disadvantaged by not yet having access to professional staff training platforms. Kids. We just decided to use natural fabrics because we care about the environment, explains Hoang Anh. It stands as a model for sustainability in the industry. 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. Metiseko is known for its casual, comfortable style that appeals to both older and young people alike. This Japanese brand is fixated on providing a wide range of quality socks that are both durable and comfortable. From dreamy to frenetic. A guide to unlocking opportunity in emerging and frontier fashion markets. Birthday Discount: In Vietnam, a large number of fashion stores have discount policies for customers on their birthday. Women. TimTay is designed for people of all ages who share a love for comfort and the environment. 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.