Founded in 2011, the high-end Vietnamese fashion brand Metisekos concept is all in the name. Duy Anh Fashion and Cosmetics recorded year-on-year growth of 171 percent in the last quarter of last year. 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. Her garments are a perfect balance of clean cuts, luxury fabrics, and bold patterns. Apart from manufacturing the worlds big label clothes, Vietnam is also beginning to emerge as a fashion hub in its own right with homegrown designers helming the movement. As a famous Local Brandwith diverse designs from T-shirts, Hoodies, Croptops, shirts, tote bags, hats, keychains. 2021 . For the woman looking for something different, elegant, timeless, theres only Gia Studios. 1. 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. In no order of preference, these are our top 8 Vietnamese brands worth checking out! Thuy is for the woman who wants to wear art. Louis Vuitton Louis Vuitton's immediately recognizable designs first saw the light in 1854 in Paris. 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. Lam Gia Khang, born in 1990, is a breakthrough designer in the Vietnamese fashion industry. Underdeveloped corporate legislation is one of the reasons for the hesitation among foreign companies that wish to enter the country. Though growth fell marginally last year due to several months of national lockdown resulting from the Delta variant outbreak, the economy is predicted to rebound to 5.5 percent growth this year. Some Vietnamese fashion designers are gaining popularity not only within their home country but elsewhere. In a report titled "Has Luxury Gone too Mass? But Vietnam should no longer be an afterthought, say Vietnam-based industry veterans who contend that the market is underserved. The dresses are often compared to pieces of art, looking like wearable paintings. Hanoi Radio Television Instagram influencer marketing has been proven to bring success to brands entering Vietnam. You can wear a luxury brand garment several years after purchase and still . 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 in Vietnam. And even though Indonesias population size is nearly three times bigger than Vietnams, it has only marginally more millionaires. Devon Nguyen, a Poland-based designer, shifted from Central Saint Martins to The London College of Fashion to pursue her passion for womenswear. Vietcetera had a chance to catch up with Linda Mai Phung in Evolution3s factory during her short trip back to Ho Chi Minh City. Vietnam's personal luxury goods market is complemented by hospitality offerings like the Dolce Hanoi Golden Lake Hotel, which markets itself as the world's first gold-plated luxury hotel. The company's smartphone, Vsmart, which was launched in 2018, quickly grew to become one of the top five brands in Vietnam. We wanted to create a 100% environmentally and socially responsible brand made with high-end fabrics and production and distribution all in the same country, Erwan adds. We all have days when we just dont know what to wear. 1992-2023 Dezan Shira & Associates All Rights Reserved. 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. 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. Co-founders Hoang Tu and Hoang Anh create clothes that are light, comfortable, and versatile.. 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. 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. Their Insignia division retails 26 luxury fashion and accessories brands in 85 locations throughout the region. In this post, we discuss top consumer brands that have most or a significant amount of manufacturing in Vietnam, including: SAMSUNG NIKE INTEL FJLLRVEN ADIDAS LG THE NORTH FACE FOXCONN MERRELLS FOOTWEAR EVERLANE Other Notable Brands Where do Vietnamese shops get their discount brand-name products? In French, metis or metissage is used to describe something that is a combination of two different cultures, Erwan Perzo explains. 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. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. Lindas insights: I like the timeless style. "Contemporary brands perform exceptionally well for us each season and sales from brands such as Ganni, Isabel Marant, Rixo, Nanushka, Alexachung and See by Chlo are collectively up by 272 per . Pursuitist is luxury redefined. I want customers to know what theyre paying for, explains Morgan. The Best Luxury Fashion Brands. Gucci and Tiffany are among the brands investing in the Southeast Asian market. In Vietnam, Instagram is the 5th most-used social media platform for 2022. An aesthetic that is daring, playful, and not afraid of colour, Thuy Design House brings together tradition and ingenuity. The Vogue Business Luxury Fashion Index, which surveyed more than 8,000 luxury consumers worldwide, found that Alexander McQueen, Versace and Valentino outperformed its peers in digital marketing and brand perception. Fashion. 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. 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.. There is a sizable gap between Porsche and Gucci, and this has been widened over the past year. Featured brands. A 2016 KnowtheChain ranking of the top 20 fashion brands' efforts to eradicate forced labour had similar findings. Luxury brands share these features: they are expensive, high quality and long lasting, and have a limited distribution. 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. Subscribe to receive weekly Vietnam Briefing news updates, 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. Now SAIGON A brand is so familiar that you can see it everywhere on the streets of Saigon. BMW leads the premium import CBU market with the 3-Series representing sizeable sales volume. 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. As Vietnamese fashion for women continues to take great strides into the high-end international market, weve put together a list of seven designers. Vietnam recently has signed several new-generation FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam FTA (EVFTA), the UK-Vietnam FTA(UKVFTA), and most recently the Regional Comprehensive Economic Partnership (RCEP), where tariffs and regulatory barriers are reduced. At a 2020 customs seminar, IPPGs Nguyen said that European fashion goods entering Vietnam are subject to a tax of at least 30 percent, not including 10 percent VAT.. 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 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%. To inspire, educate, be relevant. He reduces waste by using leftover fabric to make accessories and has plans to use canvas to package his products instead of paper packaging. 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. There needs to be a holistic approach. Examples of popular luxury fashion brands include Louis Vuitton, Burberry, Hermes, Salvatore Ferragamo, Gucci and Prada. Founder Morgan Truong describes the style as minimalism with a twist. On top of that, there are larger in-store inventories and more [choice of] models in Singapore and Hong Kong. Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. Luxury products are usually promoted using photographs. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. However, recent iterations of these laws were released in a manner that has definitely made investment far smoother.. A young, educated, and urban population is the backbone of consumption. Visit their website to see how their services can help your business succeed. Globally, e-commerce is facing a recession, but Vietnam appears well placed to weather the storm. The rise in CAGR is attributable to this market's demand and growth, returning to pre-pandemic levels once the pandemic is over. 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. An open economy: Since 1986, market reforms, collectively dubbed Doi Moi, have turned Vietnam into a coveted playing ground for global players. Local distributors advise brands to be more bold and targeted with marketing activities, and to be cautious of the complex operating environment. Updated April 24, 2022 62.4k votes 9k voters 360.9k views. KIDSWEAR. Moreover, clothing manufacturing was over 70% of that slice. 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 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. 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. Moi Dien literally means mad lips in Vietnamese, which is to be outspoken. Men. 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. (GlobalLink). Profile 11s style is minimalism with a twist designed for the modern working professional. 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. Tran believes global luxury brands in Vietnam are disadvantaged by not yet having access to professional staff training platforms. Likewise, Bvlgari decided to return to the market in March 2021 with the inauguration of its first physical store in HCM City. Moreover, among the most common account types followed by this market are influencers, experts, celebrities, and bloggers. The gap between Vietnams increasingly diverse tourism sector and Thailands more advanced travel retail market also has the potential to narrow. Over the past few years, aside from Vietnam International Fashion Week (VIFW) and other home-based fashion events like the Elle Fashion Show and the Fashionology Festival, Vietnamese designers have received a large number of invitations to present their collections in major fashion weeks around the world. Vietnam is home to talented designers whose brands are increasingly being thrust into the international spotlight. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. 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. For now, the brand exclusively offers mens clothes, but will use leftover fabric to design womens clothing in the future. For example, LVMH is a conglomerate specializing in luxury goods, and owns some of the most popular luxury brands, such as Louis Vuitton, Fendi, Christian Dior, Givenchy & Marc Jacobs. Customers can shop the collection online and in stores, or search Nosbyn at shopee. Luxury brands have started to inject investment in retail outlets where clients are underserved. 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.