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.. After that, she launched MYMY by PHUONG MY, a more accessible offshoot of the label, in 2015. 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 . So we hitched a ride out to District 9 to hear her thoughts on five local brands pursuing sustainable fashion goals in Vietnam. Luxury products are usually promoted using photographs. 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). 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. 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. Vietnam Briefing has developed into a premium source for insight on doing business in Vietnam. Moi Dien is street fashion meets cutting edge design. Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. Mussou brought her experience in textiles to complement Perzos passion for sustainability making Metiseko one of Vietnams first fashion boutiques to be committed to fair work conditions and eco-friendliness. 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. The VND 350 trillion (US$15.3 billion) economic support package, which was implemented earlier this year with nearly VND 114 trillion (US$4.9 billion) allocated for the infrastructure sector, has not only had a direct impact on the real estate market in the short term but also works as a driving force for the development of the market in the coming years. 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. 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. View Trip 1992-2023 Dezan Shira & Associates All Rights Reserved. For Nguyen, fashion isnt just fashion, but a dialogue between art, clothing, and textile. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. Created by Nancy Le after she returned home to Saigon from studying at the Academy of Art in San Francisco, Nosbyn fills the space in the market for everyday wear. Moi Dien, which translates as outspoken, boasts a loud, daring unisex style. The epitome of luxury fashion, Gucci remains the world's top fashion brand and second-biggest luxury brand in the world. Though some brands continue to underestimate the market, others are investing in retail outlets where clients are often underserved. Peace United was born to build a Hip Hop community in Vietnam, as well as an organise street art and cultural activities. The capitals of the luxurious fashion brands are mainly France, Italy, Great Britain and the USA. 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. For now, the brand exclusively offers mens clothes, but will use leftover fabric to design womens clothing in the future. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. Here are our top 8 fashion boutiques worth checking out in town. Beware Moi Dien is not for the fainthearted customer. In Vietnam, [affluent] people couldnt travel outside the country and had nothing to do with their money, so they kept on spending greatly on luxury goods. Ranker Shopping. That makes Linda the perfect person to curate sustainable fashion in Vietnam. The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. Vietnam's startup sector benefits from a myriad of supportive policies and regulations. For more information read our Terms & Conditions. To achieve exclusivity, she directly imports luxury fabrics from Paris, Milan, and Hong Kong. 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. I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes. Morgan Truong founder of Profile Man. This year, Vietnam has witnessed prime apartment selling prices exceed the US$10,000 per square meter barrier, driven by local demand. Some of these classic designer brands like Herms and Louis Vuitton originated in the 1800s but have evolved to present-day ideas. Within the consumer electronics industry, local player Vingroup JSC offered consumers new experiences in its smartphone and television series. 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. Two years later, in 2015, Khang was also named in the top 30 most successful people under 30 in Forbes Vietnam. 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. Luxury car brands are expanding their presence in Vietnam. 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 statistic shows the leading fashion store brands in Vietnam in 2020, ranked by the number of stores. Birthday Discount: In Vietnam, a large number of fashion stores have discount policies for customers on their birthday. Tran believes global luxury brands in Vietnam are disadvantaged by not yet having access to professional staff training platforms. Vietnam; At the heart of our company is a global online community, where millions of people and thousands of political, cultural and commercial organizations engage in a continuous conversation about their beliefs, behaviours and brands. 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. 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. Though the glamour quotient kept high society matrons talking about the gala for weeks, business leaders were focused on another aspect of the event that had piqued their curiosity. In 2011, Nguyen Cong Tri launched Kin Concept, a ready-to-wear label for urban women. 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. food guides for places to eat in Vietnam! and Prada) came behind the high-street retailers. Men, women, and children styles are available at PUSW. Instagram is a visual platform that allows luxury brands to showcase their best work. Metiseko is known for its casual, comfortable style that appeals to both older and young people alike. Grimm DC has become a favorite brand for shopaholics because everything can be found here. Although Vietnamese fashion is still its nascent stage, it is slowly and surely making its mark on the world. Her message is getting through. Top fashion ecommerce trends in 2023. 2022 . 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. The Best Luxury Fashion Brands. "In French, 'metis' or 'metissage' is used to describe something that is a combination of two different cultures," Erwan Perzo explains. Tiffany & Co and Montblanc, and Christian Louboutin have also begun to open their first stores in Hanoi and Ho Chi Minh City. The top scoring luxury brand was PVH with 57 out of 100. As Linda Mai Phung got ready for the launch of SUPER VISION, a new cycling-focused European streetwear brand, we met to get her guide to five Vietnamese fashion brands pursuing sustainability. 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. Pursuitist | Style Women. Some Vietnamese fashion designers are gaining popularity not only within their home country but elsewhere. 1. MAJESTIC TURKEY BY CULTURE TRIP Travel from the bazaars of Istanbul to the beautiful beaches of Antalya. 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Metiseko was founded almost a decade ago by Florence Mussouand Erwan Perzo in Hoi An. The dresses are often compared to pieces of art, looking like wearable paintings. Pursuitists are ahead of the curve & authentic. The luxury sector can also benefit from Vietnams free trade agreements (FTAs). Rustea is a minimalist, free-size clothing brand for those who want to be cozy and comfortable. TimTay foreground wearability and functionality in their designs. In the second annual BrandZ France ranking, released today by WPP and Kantar which tracks and anticipates the evolving environment for the country's . One of Vietnams biggest fashion distributors, Duy Anh Fashion and Cosmetic (DAFC), added Tiffany & Co. and Montblanc to its portfolio of more than 60 international brands last year, following the return of Christian Louboutin in 2020. In Hanoi and Ho Chi Minh city, the luminous storefronts of luxury powerhouses like Louis Vuitton and Dior dominate prestigious . 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. Lindas insights: I like the timeless style. Vietnams personal luxury goods market reached US$976 million in 2021 and is expected to grow 6.67 percent annually as per Statista. 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 . She sees sustainable fashion as not simply making clothes but a mindful way of creating and consuming fashion. When international brands map out their Southeast Asia expansion strategies, Singapore and Thailand are usually top priorities followed by Malaysia and Indonesia. 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.. 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. 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.