In 2019, Moi Dien was one of the 16 finalist in the London International Fashion Showcase. 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. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. Luxury brands see great potential in Vietnam The majority of the luxury segment in retail is consolidated under a few conglomerates. 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. From bamboo furniture to graceful gemstone jewelry, here are 10 product designers in Vietnam you should know about. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. Within the consumer electronics industry, local player Vingroup JSC offered consumers new experiences in its smartphone and television series. Sustainable fashion isnt just about using natural fabrics. Luxury Fashion - Vietnam | Statista Market Forecast In Vietnams fashion industry, the trend is evidenced by the growth of Vietnamese fashion brands that are developing with a dedication to sustainably. 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. Moi Dien literally means mad lips in Vietnamese, which is to be outspoken. Vietnams high spenders choose premium, expensive wines mostly from France, Italy, Chile, the US, and Australia with French wines representing 35 percent of the market share. Starting from a small out of the way studio, Moi Dien, living their brand story, has grown from strength to strength. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. In addition, Tom is taking other steps to reduce his own brands environmental impact. For his outstanding contribution to the Vietnamese Haute Couture Industry, in 2014 Nguyen Cong Tri was the first Vietnamese to be recognized by the Asian Couture Federation. Luxury brands have started to inject investment in retail outlets where clients are underserved. 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. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. While the most exclusive luxury brands sell truly expensive and uniquely stylish pieces, fashion houses from Salvatore Ferragamo . The most popular luxury brands in the UK | Consumer - YouGov As a result, Vietnam is rising as a strong contender to China with its low labour cost and multiple free trade agreements. The coronavirus pandemic changed it all in a few short months. 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.. Interestingly, future wealth trends appear to give Vietnam an edge over some of its regional neighbours where luxury brands continue to disproportionately invest. Luxury's Southeast Asia E-Commerce Opportunity | BoF Its fashion items seem to be as expensive as other international brands (expect $70 for a decent dress). 3. Meanwhile, the country has a relatively young population, with a median age of 32.5 years. The Southeast Asian nation was of the few countries to experience GDP gains in 2020, when the world was besieged with Covid-19. SSENSE's luxury fashion affiliate program is available through two networks: SOVRN and Skimlinks. Oh the lifestyle of the rich and the famous! Unlike most developing economies, in Vietnam, the majority of international fashion brands are represented by distributors, with some of them having exclusive rights. The number of ultra-high-net-worth individualsin Vietnam with a worth of at least US$30 million is also forecast to increase by 26 percent to more than1,500by2026; such growth is equivalent to that in Hong Kong and Taiwan, according to an annual report by UK property consultancy Knight Frank. And even though Indonesias population size is nearly three times bigger than Vietnams, it has only marginally more millionaires. Vietnams reputation as a country with a complex business culture means foreign players have historically found it harder to put down roots than in other countries in the region. Ive been following the brand from the very beginning., I really like that they respect Vietnamese culture in every collection by sourcing their silk locally and by taking inspiration from Vietnam. 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 company manufactures products like processed milk, curd, ice cream, and mayonnaise. Top 100 Luxury Fashion Brands Ranking - Lusso Bonito 10 Fashion Designers You Need to Know in Vietnam - Culture Trip Styles from Metiseko's new organic cotton collection. Why are luxury and high street brands flocking to Vietnam? Vietnam's Luxury Market Is Heating Up | BoF - The Business of Fashion Here are our top 8 fashion boutiques worth checking out in town. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. 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. Jimmy Choo is a big-name luxury fashion brand known for its high-end women's . Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. However, according to Lourey, the bigger picture for foreign brands is that recent changes in Vietnams Law on Investment 2020 have led to an improved business environment with greater certainty. Take a tour across Ho Chi Minh City and you will see plenty of women wearing Nosbyns comfortable and accessible designs. And theyre sustainable, explains Jo. 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. Two years later, in 2015, Khang was also named in the top 30 most successful people under 30 in Forbes Vietnam. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. Particularly, Italian luxury car brand Lamborghini announced its return this month after a year of inactivity. Even their leftover fabric is used to make small accessories like bags, earrings, and bracelets that are sold in the store. 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. But Vietnam should no longer be an afterthought, say Vietnam-based industry veterans who contend that the market is underserved. Luxury brands share these features: they are expensive, high quality and long lasting, and have a limited distribution. Men. Strongly influenced by the image of Asian women and their exquisite virtues, Phuong Mys designs emphasize feminine silhouettes with a modern twist. A graduate of RMIT with a Bachelor of Fashion Merchandise Management, fashionable and straight-talking, Thu is not afraid to voice her opinions. 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. In a report titled "Has Luxury Gone too Mass? The Motley Fool recommends Burberry Group Plc, Diageo Plc, RH, and Tapestry and recommends the following options: long January 2025 $47.50 calls on Nike, long March 2023 $120 calls on Apple, short . As per Worldometer 37.7 percent of the population is urban. Overall, the luxury brands (these included Hugo Boss, Kering (Alexander McQueen, Gucci, Stella McCartney, etc.) Join our Facebook Group with over 168.100 travelers, expats and locals who love Vietnam. 43 Top Designer Brands for Women: Luxury Brands List to Shop from - Glowsly Save my name, email, and website in this browser for the next time I comment. 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. To inspire, educate, be relevant. From bright to subtle. The firm assists foreign investors throughout Asia from officesacross the world, including inHanoi,Ho Chi Minh City, andDa Nang. 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. 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. 2021 . Agenda-setting intelligence, analysis and advice for the global fashion community. Women Men Kids. 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. Instagram influencer marketing has been proven to bring success to brands entering Vietnam. Tom is a young Vietnamese designer to watch. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. There is very little formal retail industry training in the country, aside from companies own in-house programmes. The dresses are often compared to pieces of art, looking like wearable paintings. Top 15 Most Popular Luxury Brands Online - Luxe Digital Also, Vietnam's number of High Earners, Not Rich Yet individuals (HENRYs), and ultra-wealthy are growing. Using linen, a natural fabric, to make 90% of its clothes, this brand offers comfortable, airy designs perfect for Vietnams tropical climate. 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. A Tom Ford heavy twill blazer will set you back $2,380, while a velvet dress typically comes with a $5,350 price tag. 10 Vietnamese Product Designers You Should Know 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. Pursuitists are ahead of the curve & authentic. Tran believes global luxury brands in Vietnam are disadvantaged by not yet having access to professional staff training platforms. 8690427 7565603 5899505 6264703 7955323 seotmstmp mobdev. 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. Top Marketing Strategies for Luxury Brands in Vietnam Top 10 famous and high-quality Local Brands for young people in Vietnam 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. TimTay is designed for people of all ages who share a love for comfort and the environment. Marc Jacobs: Quirky, Playful, and Fashion-Forward Designs. 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. This potent combination means that we cannot wait to see what else they come up with. I want customers to know what theyre paying for, explains Morgan. 17 Best Instagram Influencers in Vietnam in 2022 - AJ Marketing 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. 2023 Vietnam Is Awesome. Although Rusteas pieces are simple, Jo still encourages customers to style pieces however they want. However, Helen Sac, consultant director of WGSN Asia-Pacific, cautions that the countrys e-commerce facilities are not very sophisticated and not necessarily set up well to reach the capacity they can have online.. Tjada DOyen McKenna, the CEO of Mercy Corps, shares insights on growing global food insecurity and deepening inequality. Provided a business line is not on the [governments restricted] negative list, investors are pleasantly surprised at the potential ease of foreign ownership and the expectations of minimum, initial capital in comparison with what a number of regional competitor countries require, Lourey said. 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. Rustea founder Jo Lams philosophy is to use 100% natural fabrics. Over the past 10 years, we've completed close to 800 projects with fashion brands, apparel, luxury, and department store retailers across six continents.
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