His attire can be seen on numerous covers of ELLE Vietnam and Harpers BAZAAR Vietnam. https://www.facebook.com/cocodressingroom/. 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.. This passion was behind her founding of The Factory Contemporary Arts Centre in Ho Chi Minh City, in 2016. Though some brands continue to underestimate the market, others are investing in retail outlets where clients are often underserved. Why do so many brands manufacture in Vietnam? 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. This is the embodiment of their brand culture. Voting Rules. 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. 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. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. 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. 5. Vu Thao runs an eco-friendly clothing company called Kilomet 109, which creates some of the most natural outfits in fashion. 17] Valentino S.p.A. Another newcomer to our list of top 100 luxury fashion brands is the Italian-based fashion brand, Valentino. The increase in privately-owned cars also significantly impacts the demand for some segments of high-end apartments, resort real estate, and land plots. As per World Data Lab, with a middle-class forecast to reach 56 million by 2030, Vietnam is set to leap eight places from its current 26th in the global ranking of 30 economies with the largest middle-class populations. Country . Styles from Metisekos new organic cotton collection. 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. Women Men Kids. To be trendsetters, broadcasting the latest buzz. TimTay is designed for people of all ages who share a love for comfort and the environment. 2021 . Others argue that Vietnam merely got bumped up the pecking order because of greater pandemic restrictions elsewhere. So if the size of the local luxury market is not the issue, then what is preventing some brands from investing more in Vietnam? Strongly influenced by the image of Asian women and their exquisite virtues, Phuong Mys designs emphasize feminine silhouettes with a modern twist. You are currently shipping to Vietnam and your order will be billed in USD $. The coronavirus pandemic changed it all in a few short months. Cancel. The company's smartphone, Vsmart, which was launched in 2018, quickly grew to become one of the top five brands in Vietnam. Vietnams personal luxury goods market reached US$976 million in 2021 and is expected to grow 6.67 percent annually as per Statista. You must have branding services to create your brand image and give an assertive message to your target audience. The Vietnam Briefing Magazine was first published in 2009, and is contributed to by investment professionals based in Vietnam. 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. Smart retailers have the potential to benefit from the burgeoning consumer class in Vietnam. Decision Labs Connected Consumer report suggests 46 per cent of consumers started adopting social commerce around two to five years ago, marking the time frame for a surge in its popularity in Vietnam. By signing up, you agree to our .ltr-1kby4wd-Body{font-family:var(--typography-body-font-family);font-size:var(--typography-body-font-size);line-height:var(--typography-body-line-height);background-color:transparent;cursor:pointer;transition-property:color,text-decoration;transition-duration:var(--motion-functional-duration-s);transition-timing-function:var(--motion-functional-easing-standard);-webkit-text-decoration:underline;text-decoration:underline;color:var(--colors-actions-ghost-dark-enabled-label);}.ltr-1kby4wd-Body:hover{color:var(--colors-actions-ghost-dark-hover-label);}.ltr-1kby4wd-Body:focus{transition-property:color;}Privacy Policy. 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. The countrys import of watches increased by 28.2 percent annually from 2016-to 2020. Dior continues its steady ascent. 1. Moi Dien is street fashion meets cutting edge design. Valentino has reported a 62 % increase in online sales for 2020. What Morgan might be able to do is contact suppliers at the end of the season to purchase leftover fabric at a discounted price. Lets say a Chanel bag will cost you more than US$10,000 and there is a difference in price between Singapore, Hong Kong and Vietnam, Gautier commented. Subscribing grants you this, plus free access to our articles and magazines. Proficient in pattern-making and folding, her trademark motifs are 3D and asymmetric shapes, creating timeless essentials for women who are menswear enthusiasts too. We didnt even know that the term sustainable existed in fashion. Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. So we hitched a ride out to District 9 to hear her thoughts on five local brands pursuing sustainable fashion goals in Vietnam. In fact, the designer has embraced ethical fashion ideals since his undergraduate years after realizing that the fashion industry is one of the biggest contributors to pollution in the world. Finally, luxury brands should be bullish on Vietnam because there is high demand for their goods. 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. Some of these classic designer brands like Herms and Louis Vuitton originated in the 1800s but have evolved to present-day ideas. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. The Spring/Summer 2022 edition of Aquafina Vietnam International Fashion Week, which took place this from May 25 to 29, featured collections from 18 domestic and international fashion houses. TimTay foreground wearability and functionality in their designs. Offsetting emissions is also in the hands of the consumerthey can pressure more brands and suppliers to change their practices, Linda explains. Take a trip to Ho Chi Minh Citys central districts to understand the fashion renaissance bourgeoning. 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. 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. To inspire, educate, be relevant. Top fashion ecommerce trends in 2023. Peace United was born to build a Hip Hop community in Vietnam, as well as an organise street art and cultural activities. Audi CBU overtook Mercedes-Benz to reach the second position since 2010 in imported luxury CBU and enjoys the stronger growth since then. Women. Sign up for promotions, tailored new arrivals, stock updates and more - straight to your inbox . "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. Visit their shop in Saigon! Vietnam's startup sector benefits from a myriad of supportive policies and regulations. Customers can shop the collection online and in stores, or search Nosbyn at shopee. 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. For now, the brand exclusively offers mens clothes, but will use leftover fabric to design womens clothing in the future. In global. 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. 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). An open economy: Since 1986, market reforms, collectively dubbed Doi Moi, have turned Vietnam into a coveted playing ground for global players. Vietnam's Luxury Market Is Heating Up Gucci and Tiffany are among the brands investing in the Southeast Asian market. 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Her designs use everything from nuts and coal to stone and wood for trimmings, as well as organic cotton and hemp as fabric. We feel overwhelmed by the options in our wardrobe, none of which seem wearable. The rise in CAGR is attributable to this market's demand and growth, returning to pre-pandemic levels once the pandemic is over. Tom is a young Vietnamese designer to watch. 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. Also brands such as Prada founded in 1913, Chanel founded in 1909, and Burberry founded in 1856, seem to confirm this thesis. Gucci is the hottest brand online, again. 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. Sales have plummeted, leading to forecasts for a precipitous decline in 2020 revenue and massive uncertainty about the ability of many brands to rebound. Instagram is a visual platform that allows luxury brands to showcase their best work. A 22.7% drop in sales has seen the Italian fashion house's valuation dip from $17.6 billion in 2020 to $15.5 billion in 2021. This Japanese brand is fixated on providing a wide range of quality socks that are both durable and comfortable. 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. 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. Local distributors advise brands to be more bold and targeted with marketing activities, and to be cautious of the complex operating environment. BMW leads the premium import CBU market with the 3-Series representing sizeable sales volume. To achieve exclusivity, she directly imports luxury fabrics from Paris, Milan, and Hong Kong. Facebook is currently the countrys most popular social-commerce platform, followed by Instagram, and the local chat-based platform Zalo. The calendar is quite packed." The rising number of millionaires and brand loyalty among customers are anticipated to fuel the growth. View Trip clothing manufacturing was over 70% of that slice. TL;DR: Several luxury brands had notable shifts in our annual ranking. Birthday Discount: In Vietnam, a large number of fashion stores have discount policies for customers on their birthday. Switch to the app for an even smoother experience, Sign up for promotions, tailored new arrivals, stock updates and more straight to your inbox. The luxury sector can also benefit from Vietnams free trade agreements (FTAs). We just decided to use natural fabrics because we care about the environment, explains Hoang Anh. SUPER VISION is a model of sustainability in the industry, plus the streetwear brand plans to make cycling sexy.. Particularly, Italian luxury car brand Lamborghini announced its return this month after a year of inactivity. 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.. Profile 11s style is minimalism with a twist designed for the modern working professional. Heres this weeks Vietnam News in Brief. I see it as upcyclingusing leftover fabrics to make new designs., Location: 26 Ly Tu Truong 31D, District 1, Ho Chi Minh City. From bamboo furniture to graceful gemstone jewelry, here are 10 product designers in Vietnam you should know about. Vietnams luxury market is expected to grow significantly thanks to a growing middle class and the increasing number of high-net-worth individuals. Copyright 2023 FARFETCH UK Limited. Kids. We all have days when we just dont know what to wear. Her garments are a perfect balance of clean cuts, luxury fabrics, and bold patterns. Themed ReFashion, Le said the event aims to reposition Vietnams fashion industry as one that is more sustainably minded. CONG TRI is the go to brand for any stylish woman, and has been worn by many Vietnamese A-list celebrities. 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. 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. 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. SSENSE's luxury fashion affiliate program is available through two networks: SOVRN and Skimlinks. Metiseko was founded almost a decade ago by Florence Mussouand Erwan Perzo in Hoi An. Lindas insights: I like the timeless style. Beware Moi Dien is not for the fainthearted customer. That makes Linda the perfect person to curate sustainable fashion in Vietnam. In Hanoi and Ho Chi Minh city, the luminous storefronts of luxury powerhouses like Louis Vuitton and Dior dominate prestigious . The TimTay collection, on the other hand, takes a different approach. The luxury designer is well-known for its sustainable swimsuits made from pre and post-consumer waste. She pointed out that Vietnam was the only Southeast Asian country whose economy grew last year. With a few stores across the heart of Saigon, be sure to pay a visit to Metiseko on your trip. . BMW which used to assemble CKD in Vietnam stopped and changed their CBU importer in 2008. Though Gucci remained silent on the matter, if recent luxury market activity in the country is any indication, it is probably more a case of the former than the latter. 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 $6 million. Since the launch of the economic reform policy called Doi Moi in 1986, Vietnam has grown from one of the worlds poorest countries to a middle-income economy. Styles from Metiseko's new organic cotton collection. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. DAFCs parent company, Imex Pan Pacific Group (IPPG), led by husband-and-wife duo Johnathan Hanh Nguyen and Le Hong Thuy Tien, also signed a business cooperation agreement with the local unit of South Korean luxury retail group Lotte Duty Free in the same year to open a chain of downtown duty-free stores in Hanoi and Da Nang. Devon Nguyen, a Poland-based designer, shifted from Central Saint Martins to The London College of Fashion to pursue her passion for womenswear. Using linen, a natural fabric, to make 90% of its clothes, this brand offers comfortable, airy designs perfect for Vietnams tropical climate. You should raise your budget from 350$ to approximately $650. And top tier brands have done very well even during Covid-19, added Gautier. Visit their website to see how their services can help your business succeed. Luxury car brands are expanding their presence in Vietnam. Gautier described the market as still having a challenging bottleneck for international brands. Louis Vuitton Louis Vuitton's immediately recognizable designs first saw the light in 1854 in Paris. Gucci. The brand counts three boutiques in Ho Chi Minh City, including a flagship store at Hotel Continental. 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. Men, women, and children styles are available at PUSW. 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. And even though Indonesias population size is nearly three times bigger than Vietnams, it has only marginally more millionaires. Kids. 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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. 1. 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. HANOI, Vietnam Since she began opening stores for global luxury brands in 2007, GlobalLink Co.Ltd's Chief Executive Tran Thi Hoai Anh has brought the likes of Balenciaga, The Row and Celine to Vietnamese shoppers. The cost of flying to Singapore is less than US$100. Unlike most developing economies, in Vietnam, the majority of international fashion brands are represented by distributors, with some of them having exclusive rights. PUSW was founded in 2008 by Viet Max, a Vietnamese Hip Hop dancer, TV talent-show judge, video producer, illustrator, and artist. She is a huge advocate for changing our consumption habits, apart from walking the talk with Coco Dressing Room, Thu often speaks at panel discussions and fireside chats around Saigon and internationally. 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. Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. With the worldwide success her two labels have achieved, Phuong My has been named one of the top 30 most successful Vietnamese people under 30 by Forbes Vietnam in 2015. Find spotlight and explainer articles, news updates, factsheets, useful tools, as well as webinars featuring on-the-ground advisors. 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. The dresses are often compared to pieces of art, looking like wearable paintings. Peace United Street Warriorz or PUSW is street style brand with a great story. A graduate of RMIT with a Bachelor of Fashion Merchandise Management, fashionable and straight-talking, Thu is not afraid to voice her opinions. Founded in 2011, the high-end Vietnamese fashion brand Metiseko's concept is all in the name. 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