Pursuitists are ahead of the curve & authentic. The cost of flying to Singapore is less than US$100. Each product has a code with the kilograms of carbon dioxide emission and the number of kilometers cycling it translates to. Mytheresa - Luxury Fashion and Designer Shopping in the US. 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. Take a tour across Ho Chi Minh City and you will see plenty of women wearing Nosbyns comfortable and accessible designs. He opened his eponymous brand in 2014 to showcase ready-to-wear collections inspired by images of elegant, chic downtown girls. 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. PUSW was founded in 2008 by Viet Max, a Vietnamese Hip Hop dancer, TV talent-show judge, video producer, illustrator, and artist. 2022 . 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. Luxury brands have started to inject investment in retail outlets where clients are underserved. Updated April 24, 2022 62.4k votes 9k voters 360.9k views. Vietnam is home to talented designers whose brands are increasingly being thrust into the international spotlight. Using linen, a natural fabric, to make 90% of its clothes, this brand offers comfortable, airy designs perfect for Vietnams tropical climate. But besides sustainability, Lindas goal is to make cycling sexy. But she wants people to wear the clothes for their style, not just for functionality. The company has gained a lot of reputation for manufacturing good and healthy milk with a nearly negligible amount of contamination. Subscribe to receive weekly Vietnam Briefing news updates, The brand counts three boutiques in Ho Chi Minh City, including a flagship store at Hotel Continental. 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. "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 . Devon Nguyen, a Poland-based designer, shifted from Central Saint Martins to The London College of Fashion to pursue her passion for womenswear. Pursuitist is luxury redefined. Discover the latest in . Thanks to these FTAs, luxury goods can become more affordable, allowing more access to shoppers. "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 . After being here for ten years Ive heard so many people say they believed international brands would not last [long but its] not true, said Loic Gautier, founder and CEO of Leflair, Vietnams e-commerce platform dedicated to luxury goods. Its most popular product line includes shoes, bags, sneakers, perfumes, ready-to-wear clothes, etc. 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. Duy Anh Fashion and Cosmetics recorded year-on-year growth of 171 percent in the last quarter of last year. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. To Linda, its all about appreciating the art of fashion while paying attention to how the clothing was made. 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. Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. Strongly influenced by the image of Asian women and their exquisite virtues, Phuong Mys designs emphasize feminine silhouettes with a modern twist. An aesthetic that is daring, playful, and not afraid of colour, Thuy Design House brings together tradition and ingenuity. Get 10% off your first order. Contact Informations Address: 153AB Nam Ky Khoi Nghia, Ward 6, District 3, HCMC Phone: 028 39.307.900 Email: info@pt2000.com.vn Website: https://pt2000.com.vn/ Facebook: https://www.facebook.com/pt2000.com.vn Designs of PT2000 The new generation of Vietnamese fashion pioneers are bold, cosmopolitan, and very often aware of the impact that fashion has on the environment. 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. Vietnamese are also buying more watches. 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. Vietnam already accounts for the third-largest ASEAN wine consumer market. The fashion house has a reputation for being one of the most expensive clothing brands in the world. Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. Gucci is the hottest brand online, again. Lining the famous Dong Khoi street, of course one will find the grand old fashion houses like Louis Vuitton. Join our Facebook Group with over 168.100 travelers, expats and locals who love Vietnam. Two years later, in 2015, Khang was also named in the top 30 most successful people under 30 in Forbes Vietnam. 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. Louis Vuitton Louis Vuitton's immediately recognizable designs first saw the light in 1854 in Paris. And Lam Gia Khang still produces distinctly modern feminine tailoring using high-end fabrics and employing skilled folding techniques. Because you do need a professional design. The TimTay collection, on the other hand, takes a different approach. To be trendsetters, broadcasting the latest buzz. Inspired by Vietnams military, it won first prize in the New Idea category at the Vietnam Collection Grand Prix 2000. She pointed out that Vietnam was the only Southeast Asian country whose economy grew last year. Moreover, clothing manufacturing was over 70% of that slice. In 2011, Nguyen Cong Tri launched Kin Concept, a ready-to-wear label for urban women. 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. 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. Overall, the luxury brands (these included Hugo Boss, Kering (Alexander McQueen, Gucci, Stella McCartney, etc.) Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. Thuy Nguyen founded Thuy Design House in 2011 with hopes of blending art and fashion. 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. I want customers to know what theyre paying for, explains Morgan. 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.. 2021 . Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. But in fact, Hoang Tu and Hoang Anh didnt explicitly intend to make a sustainable Vietnamese fashion brand. Sales have plummeted, leading to forecasts for a precipitous decline in 2020 revenue and massive uncertainty about the ability of many brands to rebound. Likewise, Bvlgari decided to return to the market in March 2021 with the inauguration of its first physical store in HCM City. The rise in CAGR is attributable to this market's demand and growth, returning to pre-pandemic levels once the pandemic is over. The countrys import of watches increased by 28.2 percent annually from 2016-to 2020. 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. Rustea founder Jo Lams philosophy is to use 100% natural fabrics. The above data points offer a wealth of growth opportunities for fashion and apparel retailersdespite the huge shifts in consumer behavior, global trade, and "normal" day-to-day lives for millions around the world. It is about the experience, beyond just expensive products. Hanoi Radio Television Though some brands continue to underestimate the market, others are investing in retail outlets where clients are often underserved. Often, the fabrics are leftovers from textile factories, so they can be high-quality. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. Theres mass production of fabrics that contain toxic chemicals that eventually end up in landfills, explains Tom, its unethical and unsustainable., Theres mass production of fabrics that contain toxic chemicals that eventually end up in landfills, its unethical and unsustainable. Moi Diens founder Tom Trandt. 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 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. 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. Here are 60 Best Luxury Fashion Blogs you should follow in 2023. In Vietnams fashion industry, the trend is evidenced by the growth of Vietnamese fashion brands that are developing with a dedication to sustainably. In French, metis or metissage is used to describe something that is a combination of two different cultures, Erwan Perzo explains. They mostly get their supply from people clearing out their wardrobe. Vietnam's startup sector benefits from a myriad of supportive policies and regulations. Co-founder and designer Hoang Tu is very active so she prefers clothes that are light, comfortable, and versatile, similar to the ones she designs for the brands Casual collection.. Metiseko co-founders Erwan and Florence in their 157 Dong Khoi store. 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. By 2026, the country will have25,812 high-net-worth individuals(UHNW)with liquid assets of at least US$1 million. It is no wonder as the the labels designer Thuy Nguyen is a painter who graduated from Hanoi Fine Art University. 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. Tiffany & Co and Montblanc, and Christian Louboutin have also begun to open their first stores in Hanoi and Ho Chi Minh City. But she is actively developing the transparency of Profile Man. Why do so many brands manufacture in Vietnam? Styles from Metiseko's new organic cotton collection. View Trip The rising number of millionaires and brand loyalty among customers are anticipated to fuel the growth. Visit their shop in Saigon! From bright to subtle. But, according to estate agent Knight Franks 2021 wealth report, Vietnam already has more wealthy people able to afford luxury goods than Malaysia. 2021 . 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., For Florence, the companys other co-founder, Metisekos mission to promote sustainable practices in the fashion industry is personal. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. While the most exclusive luxury brands sell truly expensive and uniquely stylish pieces, fashion houses from Salvatore Ferragamo . Heres eight of them. 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, Gautier adds. 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 French, 'metis' or 'metissage' is used to describe something that is a combination of two different cultures," Erwan Perzo explains. Profile Man, formerly known as Profile 11, is the Vietnamese fashion brand for the modern working professional. Louis Vuitton Vuittamins zip-up jacket $2,470 at LOUIS VUITTON Louis Vuitton Pochette Coussin handbag $2,530 at LOUIS VUITTON 8. TimTay foreground wearability and functionality in their designs. 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. In 2011, she returned to Vietnam and founded Devon London. Particularly, Italian luxury car brand Lamborghini announced its return this month after a year of inactivity. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. BMW leads the premium import CBU market with the 3-Series representing sizeable sales volume. Her message is getting through. Luxury products are usually promoted using photographs. 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. If you are in Hanoi, do also check out visionary, sustainable brand Kilomet109 and functional workwear Ngo Thai Bao Loan. 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. Kids. The advantage for Vietnamese designers is that they can offer customised pieces tailored specially for Vietnamese customers, while most international ready-to-wear luxury brands cant, said Trang Le, founder and CEO of Vietnam International Fashion Week (VNIW). Interestingly, future wealth trends appear to give Vietnam an edge over some of its regional neighbours where luxury brands continue to disproportionately invest. To inspire, educate, be relevant. ; Most brands, especially those in the top 10 . 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. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. The luxury designer is well-known for its sustainable swimsuits made from pre and post-consumer waste. 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. Customers can shop at CONG TRIs three locations at the centre of Saigon, where off-the-rack options are available, or pieces can be custom made with 10 days lead time. Trending now. 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. 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. That makes Linda the perfect person to curate sustainable fashion in Vietnam. 'FARFETCH' and the 'FARFETCH' logo are trade marks of FARFETCH UK Limited and are registered in numerous jurisdictions around the world. We just decided to use natural fabrics because we care about the environment, explains Hoang Anh. Profile 11s style is minimalism with a twist designed for the modern working professional. You must have branding services to create your brand image and give an assertive message to your target audience. But like the rest of the world, Vietnam has experienced a difficult time and stagnation during the pandemic, including poorer purchasing power, and lower demand for clothing.. Beware Moi Dien is not for the fainthearted customer. 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. Marking the event will be a conference hosted by the founder of Harpers Bazaar Vietnams publisher Sunflower Media and the magazines editor-in-chief Venus Tran. 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. Tabio. Ranker Shopping. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. A guide to unlocking opportunity in emerging and frontier fashion markets. Unsubscribe anytime at the bottom of our emails. You can wear a luxury brand garment several years after purchase and still . 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. 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. Men. Founded in 1921, Gucci is one of the most recognizable fashion brands in the world. 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.. Tom is a young Vietnamese designer to watch. Sustainable fashion isnt just about using natural fabrics. Also, Vietnam's number of High Earners, Not Rich Yet individuals (HENRYs), and ultra-wealthy are growing. 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. 2021 . Instagram is a visual platform that allows luxury brands to showcase their best work. 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. 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. CONG TRI is a subsequent luxury label in Vietnam which is established by Nguyen Cong Tri - the most Vietnamese famous fashion designer. This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. Bottega Veneta It has become a norm to see models, celebrities, and. Our free webinars are packed full of useful information for doing business in Vietnam. 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. The finely crafted Italian pieces produced by this top designer are renowned for their high-quality and stylish designs. This is the embodiment of their brand culture. 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. A 2016 KnowtheChain ranking of the top 20 fashion brands' efforts to eradicate forced labour had similar findings. Manufacturing has bounced back, the Germans are coming to build a recycling plant, and Skoda will be on the streets of Vietnam in May. With over 30 million socks manufactured annually, the Japanese brand is conscious about the it's environmental footprint. According to some local industry leaders, the Italian companys decision to prioritise Vietnam will herald greater investment from other brands in the months and years ahead. Anyone can wear the clothes that I design and I only make them with natural fabrics, explains Tom. 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.. Visit the Moi Dien studio, now in the heart of Ho Chi Minh City. our latest doing business publications, and access to our Asia archives. He reduces waste by using leftover fabric to make accessories and has plans to use canvas to package his products instead of paper packaging. Heres why. Prices: $60-$210. Audi CBU overtook Mercedes-Benz to reach the second position since 2010 in imported luxury CBU and enjoys the stronger growth since then. Fashion should be expressive. Brands: Armani, Bvlgari, Bloomingdale's, Banana Republic, Ford, Ferrari, Gucci, Gap, Harvey Nichols, Maserati, Bvlgari, Boucheron, Bottega Veneta, Dolce & Gabbana, Emilio Pucci, Giorgio Armani, Gucci, Ligne Roset, Yves Saint Laurent Take a trip to Ho Chi Minh Citys central districts to understand the fashion renaissance bourgeoning. Rustea is a minimalist, free-size clothing brand for those who want to be cozy and comfortable. Heres a list of all the key compliance, labor, and tax due dates in Vietnam. In global. The epitome of luxury fashion, Gucci remains the world's top fashion brand and second-biggest luxury brand in the world. It is set to rise sharply by more than 59 percent by 2026 from 72,135 individuals last year. Meanwhile, the country has a relatively young population, with a median age of 32.5 years. 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. Tran believes global luxury brands in Vietnam are disadvantaged by not yet having access to professional staff training platforms. 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. Over the past 10 years, we've completed close to 800 projects with fashion brands, apparel, luxury, and department store retailers across six continents. Men. The coronavirus pandemic changed it all in a few short months. Thailands pre-pandemic HNWI tally (32,303) was greater than Vietnams (20,645) but the growth rate between 2020 and 2025 of that cohort in Vietnam (32 percent) is forecast to be almost double that of Thailand (16 percent). Globally, e-commerce is facing a recession, but Vietnam appears well placed to weather the storm. It stands as a model for sustainability in the industry. See a List of: Luxury Fashion Brands and the conglomerates they belong to. The company manufactures products like processed milk, curd, ice cream, and mayonnaise. On top of that, there are larger in-store inventories and more [choice of] models in Singapore and Hong Kong. 8690427 7565603 5899505 6264703 7955323 seotmstmp mobdev. Kids. As a result, Vietnam is rising as a strong contender to China with its low labour cost and multiple free trade agreements. And top tier brands have done very well even during Covid-19, added Gautier. 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. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. Linda has launched SUPER VISION, a cycling-focused urban streetwear brand offering fashionable, functional clothing to the European market. There needs to be a holistic approach. Vietnam's Luxury Market Is Heating Up Gucci and Tiffany are among the brands investing in the Southeast Asian market. For Nguyen, fashion isnt just fashion, but a dialogue between art, clothing, and textile. Having a professional profile similar to Lam Gia Khang, Ngo Thai Bao Loan was also born in 1990, graduated from The London College for Design and Fashion and participated in Project Runway 2013. Finally, luxury brands should be bullish on Vietnam because there is high demand for their goods. 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. A remarkable point is that the decoration style of these stores always has bright lights and dynamic staff. We didnt even know that the term sustainable existed in fashion. To achieve exclusivity, she directly imports luxury fabrics from Paris, Milan, and Hong Kong. With four years of experience, Loan is a designer who shows great promise in the Vietnamese fashion industry. Her garments are a perfect balance of clean cuts, luxury fabrics, and bold patterns. Vietnams legal hierarchy of laws, decrees, and resolutions in the past resulted in the slow or ad-hoc implementation of investment laws, whereby there were often gaps when new laws were introduced, and conflicts with old guiding documents that did not match with the new laws. 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. In the present day, PUSW is still very much synonymous with street style and a favourite amongst Vietnamese young people who are into the Hip Hop subculture. There is a sizable gap between Porsche and Gucci, and this has been widened over the past year. Further, Vietnams middle-class population has expanded massively in the past years. 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. Sign up for your complimentary subscription to our weekly newsletter here. The European UnionVietnam Free Trade Agreement (EVFTA) should help stimulate more brands to do just that. Nguyens impeccable contemporary cuts are infused with poetic details such as handmade embroidery. It publishes business news concerning foreign direct investment into Vietnam, including the most important tax, legal and accounting issues. In 2020, Vietnam overtook Thailand as the Southeast Asian country with the highest ownership of iPhones by proportion of population. 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.