There needs to be a holistic approach. 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. Though some brands continue to underestimate the market, others are investing in retail outlets where clients are often underserved. The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. It is no wonder as the the labels designer Thuy Nguyen is a painter who graduated from Hanoi Fine Art University. Top Marketing Strategies for Luxury Brands in Vietnam 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. 3. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. Luxury brands remain gung-ho about Vietnam despite pandemic Founded in 1921, Gucci is one of the most recognizable fashion brands in the world. Switch to the app for an even smoother experience, Sign up for promotions, tailored new arrivals, stock updates and more straight to your inbox. 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. GlobalLinks Tran, however, says brands make an informed strategic decision on whether to go it alone or partner with an experienced local distributor. Sign up for promotions, tailored new arrivals, stock updates and more - straight to your inbox . In a report titled "Has Luxury Gone too Mass? (Getty Images) By Khanh Linh 30 May 2022 The European UnionVietnam Free Trade Agreement (EVFTA) should help stimulate more brands to do just that. Luxury brands share these features: they are expensive, high quality and long lasting, and have a limited distribution. Duy Anh Fashion and Cosmetics recorded year-on-year growth of 171 percent in the last quarter of last year. 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. US. Meanwhile, the country has a relatively young population, with a median age of 32.5 years. Styles from Metisekos new organic cotton collection. Men. 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. Vietnam is home to talented designers whose brands are increasingly being thrust into the international spotlight. Thanks to these FTAs, luxury goods can become more affordable, allowing more access to shoppers. What is behind the rise in mid-priced luxury labels? - Harper's BAZAAR 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. Peace United Street Warriorz or PUSW is street style brand with a great story. 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. Moi Dien is street fashion meets cutting edge design. He reduces waste by using leftover fabric to make accessories and has plans to use canvas to package his products instead of paper packaging. 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. She believes that there are two components to sustainabilitytraceability and transparency. Traceability lies in fabric production. Kids. Brands like Chanel and Victoria Beckham exude classic style, whereas designer brands such as Off-White and Vetements appreciate current urban fashion. Audi CBU overtook Mercedes-Benz to reach the second position since 2010 in imported luxury CBU and enjoys the stronger growth since then. Luxury Vietnamese consumers use Instagram to . Through her brand, Jo wants to make life simpler for people and reduce waste in the fashion industry. 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. The company has gained a lot of reputation for manufacturing good and healthy milk with a nearly negligible amount of contamination. Proficient in pattern-making and folding, her trademark motifs are 3D and asymmetric shapes, creating timeless essentials for women who are menswear enthusiasts too. The 43 Top Japanese Clothing Brands for Cool Clothes (2023) Although Vietnamese fashion is still its nascent stage, it is slowly and surely making its mark on the world. 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. Visit their website to see how their services can help your business succeed. This is one reason some brands have yet to accurately appreciate the demand or penetration for their products in the country, a retail advisor who spoke on the condition of anonymity, recently told local press outlet Phong Vu. 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. 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. Vietcetera had a chance to catch up with Linda Mai Phung in Evolution3s factory during her short trip back to Ho Chi Minh City. 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. Hanoi Radio Television Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . Founded in 2011, the high-end Vietnamese fashion brand Metisekos concept is all in the name. The Southeast Asian nation was of the few countries to experience GDP gains in 2020, when the world was besieged with Covid-19. 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. Name . 1. Visit the Moi Dien studio, now in the heart of Ho Chi Minh City. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. Men. Offsetting emissions is also in the hands of the consumerthey can pressure more brands and suppliers to change their practices, Linda explains. MAJESTIC TURKEY BY CULTURE TRIP Travel from the bazaars of Istanbul to the beautiful beaches of Antalya. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. The new generation of Vietnamese fashion pioneers are bold, cosmopolitan, and very often aware of the impact that fashion has on the environment. Vu Thao runs an eco-friendly clothing company called Kilomet 109, which creates some of the most natural outfits in fashion. I did that many times with my brand!, Location: Nosbyn @ 77 Mac Thi Buoi, District 1, HCMC, Vietnam. 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. Thuy is for the woman who wants to wear art. 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. Top 10 famous and high-quality Local Brands for young people in Vietnam GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. If you have more time in Saigon, these new brands, Lykke and Giulia Fashion House have just arrived and are making a splash on the scene, while Lib is a hot favourite among the youth. 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. "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 . Strongly influenced by the image of Asian women and their exquisite virtues, Phuong Mys designs emphasize feminine silhouettes with a modern twist. As a famous Local Brandwith diverse designs from T-shirts, Hoodies, Croptops, shirts, tote bags, hats, keychains. Marc Jacobs: Quirky, Playful, and Fashion-Forward Designs. 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. 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 . Rustea is a minimalist, free-size clothing brand for those who want to be cozy and comfortable. Vietnam Street Fashion Labels and Couture Brands To Discover The Most-Searched Brands of 2021 (So Far) Indicate a Return to High Fashion 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. Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. 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. Can Vietnam become the next China for luxury brands? Tom is a young Vietnamese designer to watch. Here are 60 Best Luxury Fashion Blogs you should follow in 2023. 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. The most popular Vietnamese local brands - PHILIA Pursuitist | Style Women. They dont have to wear the clothes the way we think they should. And even though Indonesias population size is nearly three times bigger than Vietnams, it has only marginally more millionaires. 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. Coco Dressing Room sells pre-loved clothing from various international designers and local fashion stores. 6 Leading Luxury Fashion Brands In 2022 All rights reserved. Specialising in Ao Dai (the traditional dress of Vietnam), the brand manages to transcend expectations. Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. Tien Nguyen, its deputy director in charge of luxury fashion brands, said demand from middle-class and wealthy clientele remained strong last year. 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. Tiffany & Co and Montblanc, and Christian Louboutin have also begun to open their first stores in Hanoi and Ho Chi Minh City. It stands as a model for sustainability in the industry. This made Instagram a valuable platform for advertising, and influencers valuable assets for marketing . Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. Our world-class team of fashion and luxury consulting experts applies expertise, proprietary tools, and Future of Retail framework across every facet of the value chain. Nosbyn is also one of the few Vietnamese casual clothes fashion brands to be stocked in the US in San Francisco and Los Angeles.