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. 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. Save my name, email, and website in this browser for the next time I comment. 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. Co-founders Hoang Tu and Hoang Anh create clothes that are light, comfortable, and versatile.. 1992-2023 Dezan Shira & Associates All Rights Reserved. Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. I love fashion and I want to continue to express our world through it. 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.. The gap between Vietnams increasingly diverse tourism sector and Thailands more advanced travel retail market also has the potential to narrow. They mostly get their supply from people clearing out their wardrobe. 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. Profile 11s style is minimalism with a twist designed for the modern working professional. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. Finally, luxury brands should be bullish on Vietnam because there is high demand for their goods. Men. Copyright 2023 FARFETCH UK Limited. Gucci. The company's smartphone, Vsmart, which was launched in 2018, quickly grew to become one of the top five brands in Vietnam. Vietnam's startup sector benefits from a myriad of supportive policies and regulations. Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. 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. Subscribing grants you this, plus free access to our articles and magazines. 2021 . 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. As of April 2020, Viet Tien was the leading fashion store chain with 467 . While hes defying gender stereotypes, hes also promoting environmental consciousness. Being a . Car sales and wine imports, before being impacted by the pandemic, had maintained consistent growth of 12.9 percent and 9.8 percent between 2016 and 2019. 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. Styles from Metiseko's new organic cotton collection. 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. 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. 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. 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 . 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. The VND 350 trillion (US$15.3 billion) economic support package, which was implemented earlier this year with nearly VND 114 trillion (US$4.9 billion) allocated for the infrastructure sector, has not only had a direct impact on the real estate market in the short term but also works as a driving force for the development of the market in the coming years. Some of these classic designer brands like Herms and Louis Vuitton originated in the 1800s but have evolved to present-day ideas. In a report titled "Has Luxury Gone too Mass? Hoi An also offers a wide range of shops where you can get custom-made clothes, check it out! Before you go out and about for a day of shopping, do check out our food guides for places to eat in Vietnam! For now, the brand exclusively offers mens clothes, but will use leftover fabric to design womens clothing in the future. The cost of flying to Singapore is less than US$100. Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. Women Men Kids. Luxury Apparels Market Competitor Analysis Some key players operating in the global luxury apparel market are Prada S.p.A., LVMH Mot Hennessy Louis Vuitton, Herms International S.A., Capri Holdings Limited, and Kering. One of Vietnams biggest fashion distributors, Duy Anh Fashion and Cosmetic (DAFC), added Tiffany & Co. and Montblanc to its portfolio of more than 60 international brands last year, following the return of Christian Louboutin in 2020. And the cost for this could be 7200$ or more. This made Instagram a valuable platform for advertising, and influencers valuable assets for marketing . Vu Thao runs an eco-friendly clothing company called Kilomet 109, which creates some of the most natural outfits in fashion. The company also launched Southeast Asias second Porsche Studio in Hanoi last year, with the CEO of Porsche Asia Pacific attributing the capitals vibrant young population to the presence of the store while mentioning that Vietnam also has the youngest demographic among the companys markets. Its centered around using natural fibers and reducing pollution. 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. Cancel. While respecting the traditional feminine style of the ao dai, Thuy transforms them into ethereal things of beauty. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. Unsubscribe anytime at the bottom of our emails. Vietnam Briefing offers a basic understanding of the Vietnamese New Year or Tet including customary practices that businesses should be aware of. Ranker Shopping. But in fact, Hoang Tu and Hoang Anh didnt explicitly intend to make a sustainable Vietnamese fashion brand. As a fresh graduate from The London College for Design and Fashion, he won the first prize in the Vietnam Belve Fashion Design Awards 2012 and was the runner-up in Project Runway 2013. Discover the latest in . 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. our latest doing business publications, and access to our Asia archives. 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. Meanwhile, the country has a relatively young population, with a median age of 32.5 years. 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. 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. . I want customers to know what theyre paying for, explains Morgan. 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. His attire can be seen on numerous covers of ELLE Vietnam and Harpers BAZAAR Vietnam. Smart retailers have the potential to benefit from the burgeoning consumer class in Vietnam. ; The top 5 brands alone capture 56% of the affluent consumers' attention online. 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. GlobalLinks Tran, however, says brands make an informed strategic decision on whether to go it alone or partner with an experienced local distributor. And Lam Gia Khang still produces distinctly modern feminine tailoring using high-end fabrics and employing skilled folding techniques. Particularly, Italian luxury car brand Lamborghini announced its return this month after a year of inactivity. This Japanese brand is fixated on providing a wide range of quality socks that are both durable and comfortable. The fashion house has a reputation for being one of the most expensive clothing brands in the world. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. Loan has been building her independent boutique, NGOTHAIBAOLOAN, since 2013. We also maintain offices or have alliance partners assisting foreign investors inIndonesia,India,Singapore,The Philippines,Malaysia,Thailand,Italy,Germany, and theUnited States,in addition to practices inBangladeshandRussia. Luxury car brands are expanding their presence in Vietnam. 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. ; Most brands, especially those in the top 10 . 1. In French, metis or metissage is used to describe something that is a combination of two different cultures, Erwan Perzo explains. Hanoi Radio Television Take a tour across Ho Chi Minh City and you will see plenty of women wearing Nosbyns comfortable and accessible designs. 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.. Taking a step away from fashion designers, we introduce Tabio. 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. Sales have plummeted, leading to forecasts for a precipitous decline in 2020 revenue and massive uncertainty about the ability of many brands to rebound. All rights reserved. Voting Rules. BMW which used to assemble CKD in Vietnam stopped and changed their CBU importer in 2008. However, Loans design philosophy is more quirky, which developed from her interest in unisex clothing, and style influences that include architectural forms. In the duration of 2017-2022, the GDPs of Mumbai and Kolkata are expected to grow by 28% and 29% respectively, while Bangalore is expected to register a growth of 48%. Vietnam; At the heart of our company is a global online community, where millions of people and thousands of political, cultural and commercial organizations engage in a continuous conversation about their beliefs, behaviours and brands. 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. But, according to estate agent Knight Franks 2021 wealth report, Vietnam already has more wealthy people able to afford luxury goods than Malaysia. 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. She believes that there are two components to sustainabilitytraceability and transparency. Traceability lies in fabric production. Birthday Discount: In Vietnam, a large number of fashion stores have discount policies for customers on their birthday. 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. Visit the Moi Dien studio, now in the heart of Ho Chi Minh City. The brand boasts clothing with elegance, poise, finesse for women and continues to expand its top-notch customer profile, from celebrities to influential social icons in Vietnam. Examples of popular luxury fashion brands include Louis Vuitton, Burberry, Hermes, Salvatore Ferragamo, Gucci and Prada. She sees sustainable fashion as not simply making clothes but a mindful way of creating and consuming fashion. Luxury fashion brands sell upscale, sought-after and expensive clothing, shoes and accessories. With over 30 million socks manufactured annually, the Japanese brand is conscious about the it's environmental footprint. It is set to rise sharply by more than 59 percent by 2026 from 72,135 individuals last year. 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. The dresses are often compared to pieces of art, looking like wearable paintings. The increase in privately-owned cars also significantly impacts the demand for some segments of high-end apartments, resort real estate, and land plots. The luxury designer is well-known for its sustainable swimsuits made from pre and post-consumer waste. Celine, Dior, and Fendi are among those slated to unveil new monobrand boutiques in Manila, notes celebrity stylist Liz Uy, who is based in the Philippines capital. 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. From bamboo furniture to graceful gemstone jewelry, here are 10 product designers in Vietnam you should know about. The top scoring luxury brand was PVH with 57 out of 100. Her garments are a perfect balance of clean cuts, luxury fabrics, and bold patterns. 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. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. 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. Kids. You are currently shipping to Vietnam and your order will be billed in USD $. The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. However, recent iterations of these laws were released in a manner that has definitely made investment far smoother.. He reduces waste by using leftover fabric to make accessories and has plans to use canvas to package his products instead of paper packaging. The majority of the luxury segment in retail is consolidated under a few conglomerates. Moreover, clothing manufacturing was over 70% of that slice. Vietcetera had a chance to catch up with Linda Mai Phung in Evolution3s factory during her short trip back to Ho Chi Minh City. The epitome of luxury fashion, Gucci remains the world's top fashion brand and second-biggest luxury brand in the world. 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. Women. 2021 . 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. In addition, Tom is taking other steps to reduce his own brands environmental impact. 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. 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. Its fashion items seem to be as expensive as other international brands (expect $70 for a decent dress). Lindas insights: I think Morgans emphasis on transparency is important. Moi Dien literally means mad lips in Vietnamese, which is to be outspoken. TL;DR: Several luxury brands had notable shifts in our annual ranking. Yet Apple has not opened a single self-operated store in the country even though it rolled out two and three locations in Thailand and Singapore respectively. In 2011, she returned to Vietnam and founded Devon London. Interestingly, future wealth trends appear to give Vietnam an edge over some of its regional neighbours where luxury brands continue to disproportionately invest. (GlobalLink). 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. 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. In the new Vietnam, theres an emerging environmental consciousness happening as the country grows economically. If you are in Hanoi, do also check out visionary, sustainable brand Kilomet109 and functional workwear Ngo Thai Bao Loan. Founded in 1921, Gucci is one of the most recognizable fashion brands in the world. But Vietnam should no longer be an afterthought, say Vietnam-based industry veterans who contend that the market is underserved. Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. 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. Heres a list of all the key compliance, labor, and tax due dates in Vietnam. 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. Readers may write [email protected] more support on doing business in Vietnam. All rights reserved. This caused frustration among investors, said Matthew Lourey, managing partner of Acclime Vietnam, in a recent interview with Vietnam Investment Review. Meet the firm behind our content. Vietnam Briefing has developed into a premium source for insight on doing business in Vietnam. Women. The company has gained a lot of reputation for manufacturing good and healthy milk with a nearly negligible amount of contamination. 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. I want people to feel cozy in the clothes like when you sip a hot cup of tea, founder Jo Lam explains about the concept behind the Vietnamese fashion brand. A remarkable point is that the decoration style of these stores always has bright lights and dynamic staff. 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. The event lured about 100 VIP clients and celebrities from across the local film and music industries to a private showing of the brands Love Parade collection.