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. With the small quantities of leftover fabric, she makes small accessories like wallets and passport covers. US. The European UnionVietnam Free Trade Agreement (EVFTA) should help stimulate more brands to do just that. Luxury Apparel Market Share & Share Report, 2025 - Grand View Research 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. 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.. Further, Vietnams middle-class population has expanded massively in the past years. The list addresses all budgets and all types of clothing, whether you are in the market for high-end evening wear, a stunning ao dai, or edgy avant garde street wear, Ho Chi Minh City has got you covered. Vietnam already accounts for the third-largest ASEAN wine consumer market. ; The top 5 brands alone capture 56% of the affluent consumers' attention online. 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. Hoi An also offers a wide range of shops where you can get custom-made clothes, check it out! The cost of flying to Singapore is less than US$100. Featured brands. By 2026, the country will have25,812 high-net-worth individuals(UHNW)with liquid assets of at least US$1 million. The brand counts three boutiques in Ho Chi Minh City, including a flagship store at Hotel Continental. Apart from clothing, Metiseko also produces accessories and homeware products tailored for a refine palette. CONG TRI is a subsequent luxury label in Vietnam which is established by Nguyen Cong Tri - the most Vietnamese famous fashion designer. But in fact, Hoang Tu and Hoang Anh didnt explicitly intend to make a sustainable Vietnamese fashion brand. This Japanese brand is fixated on providing a wide range of quality socks that are both durable and comfortable. 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. 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. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. Women Men Kids. The company is a milk and milk-based products manufacturing company in Vietnam. Moreover, among the most common account types followed by this market are influencers, experts, celebrities, and bloggers. 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. Louis Vuitton Vuittamins zip-up jacket $2,470 at LOUIS VUITTON Louis Vuitton Pochette Coussin handbag $2,530 at LOUIS VUITTON 8. After graduating from Parsons School of Design in New York, Tom Tran took a leap of faith and returned to Vietnam to start his own label. The Perfect Balance: How Luxury Brands Can Maintain - Forbes Sales have plummeted, leading to forecasts for a precipitous decline in 2020 revenue and massive uncertainty about the ability of many brands to rebound. This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. To inspire, educate, be relevant. Heres this weeks Vietnam News in Brief. Each product has a code with the kilograms of carbon dioxide emission and the number of kilometers cycling it translates to. Vietnamese are also buying more watches. Made In Vietnam - Famous Brands that Manufacture in Vietnam Sign up for promotions, tailored new arrivals, stock updates and more - straight to your inbox . KIDSWEAR. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . 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 its a good idea to source 100% linen fabric from markets. 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. This made Instagram a valuable platform for advertising, and influencers valuable assets for marketing . The statistic shows the leading fashion store brands in Vietnam in 2020, ranked by the number of stores. 1: 1: Porsche: Germany: $33,713M: $34,326M: AAA: AAA-2: 3: Louis Vuitton: France: $23,426M: $14,858M: AAA: AAA-3: 2 . Luxury Brand: Definition, Characteristics & Examples Gucci. View Trip Top 10 Famous Fashion Brands In Vietnam - Top List Lindas Insights: I like the central idea of encouraging people to be different. Operating in a Complex Business Environment. Updated April 24, 2022 62.4k votes 9k voters 360.9k views. Luxury Fashion - Vietnam Vietnam Highlights Revenue in the Luxury Fashion segment amounts to US$288.20m in 2023. Why do so many brands manufacture in Vietnam? Profile 11s style is minimalism with a twist designed for the modern working professional. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. It is about the experience, beyond just expensive products. Fashion and Luxury Consulting | Bain & Company Sustainable fashion isnt just about using natural fabrics. TimTay is designed for people of all ages who share a love for comfort and the environment. So we hitched a ride out to District 9 to hear her thoughts on five local brands pursuing sustainable fashion goals in Vietnam. The Lasting Allure Of Luxury Fashion Brands - Forbes Two years later, in 2015, Khang was also named in the top 30 most successful people under 30 in Forbes Vietnam. Tom and his team are not afraid to produce genderless-silhouettes, source deadstock fabric and materials, and rely on the digital rather than paper to produce information. Vietcetera had a chance to catch up with Linda Mai Phung in Evolution3s factory during her short trip back to Ho Chi Minh City. 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. Big European luxury brands continue to appeal to the quality and logo obsessed shoppers of Asia. Name . Vietnams personal luxury goods market reached US$976 million in 2021 and is expected to grow 6.67 percent annually as per Statista. "The Vietnam market is at an ideal time for the entry of global luxury brands." So if the size of the local luxury market is not the issue, then what is preventing some brands from investing more in Vietnam? Though some brands continue to underestimate the market, others are investing in retail outlets where clients are often underserved. The global luxury goods market size was USD 316.16 billion in 2019 and is projected to grow from USD 257.26 billion in 2020 to USD 352.84 billion in 2027 at a CAGR of 4.6% in the 2020-2027 period. That makes Linda the perfect person to curate sustainable fashion in Vietnam. 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. Prada Maria Prada's very own Italian fashion house - Prada - has been a gold mine of wealthy class trends for both celebrities and anonymous elites. 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. To be trendsetters, broadcasting the latest buzz. In French, metis or metissage is used to describe something that is a combination of two different cultures, Erwan Perzo explains. Coco Dressing Room sells pre-loved clothing from various international designers and local fashion stores. 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. Vietnam's Luxury Market Is Heating Up Gucci and Tiffany are among the brands investing in the Southeast Asian market. All rights reserved. You should raise your budget from 350$ to approximately $650. What makes a popular luxury fashion brand? | Vogue Business (Getty Images) By Khanh Linh 30 May 2022 Her message is getting through. 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. Facebook is currently the countrys most popular social-commerce platform, followed by Instagram, and the local chat-based platform Zalo. 35 Top Designer Brands You Need To Know Right Now (2023 List) I havent been able to completely develop this part of my brand yet because its so new. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. Audi CBU overtook Mercedes-Benz to reach the second position since 2010 in imported luxury CBU and enjoys the stronger growth since then. We didnt even know that the term sustainable existed in fashion. Luxury's Hidden Indian Supply Chain - The New - The New York Times Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. BMW which used to assemble CKD in Vietnam stopped and changed their CBU importer in 2008. List of Top 50 brands of Vietnam -BeNextBrand.com 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. All rights reserved. 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.. In 2020, Vietnam overtook Thailand as the Southeast Asian country with the highest ownership of iPhones by proportion of population. They mostly get their supply from people clearing out their wardrobe. Visit their shop in Saigon!