CONG TRI is the go to brand for any stylish woman, and has been worn by many Vietnamese A-list celebrities. But, according to estate agent Knight Franks 2021 wealth report, Vietnam already has more wealthy people able to afford luxury goods than Malaysia. Tom is a young Vietnamese designer to watch. 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. Its share of search interest continues to decline, however (from 17.5% in 2020 to 15.2% in 2021 and now 14.8% in 2022). Men. Previously, Gautier was the chief growth officer at Maison Retail Group, a distributor of about 20 international brands in the country, including Coach, Dsquared2 and Puma. After receiving his degree from Parsons School of Design, Tom knew that he wanted to establish his own Vietnamese fashion brand with bold designs and with sustainable practices. Unlike most developing economies, in Vietnam, the majority of international fashion brands are represented by distributors, with some of them having exclusive rights. In the meantime, brands that have not been popular in Vietnam such as Off-White, Ambush, and Amiri have also started to open their first flagship store in Ho Chi Minh City. 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. Founded in 2011, the high-end Vietnamese fashion brand Metiseko's concept is all in the name. 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. 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. In 2020, Vietnam overtook Thailand as the Southeast Asian country with the highest ownership of iPhones by proportion of population. 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. Top fashion ecommerce trends in 2023. CONG TRI was showcased at New York Fashion Week (NYFW) in 2019 for the first time the NYFWs official website wrote in the introduction about Tri, each of his collection is state-of-the-art and a fascinating story to be told. 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). Women. You are currently shipping to Vietnam and your order will be billed in USD $. You should raise your budget from 350$ to approximately $650. The top scoring luxury brand was PVH with 57 out of 100. From bamboo furniture to graceful gemstone jewelry, here are 10 product designers in Vietnam you should know about. Through her brand, Jo wants to make life simpler for people and reduce waste in the fashion industry. In 2019, the industrys export value of US$39 billion contributed to 16% of total GDP, and this was a year-on-year increase of over 8.3%. I want people to feel cozy in the clothes like when you sip a hot cup of tea, founder Jo Lam explains about the concept behind the Vietnamese fashion brand. The new generation of Vietnamese fashion pioneers are bold, cosmopolitan, and very often aware of the impact that fashion has on the environment. 3. Prioritizing wearability and functionality in its designs, TimTay is designed for people of all ages who share a love for comfort and the environment. The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. ; The top 5 brands alone capture 56% of the affluent consumers' attention online. Vietnam; At the heart of our company is a global online community, where millions of people and thousands of political, cultural and commercial organizations engage in a continuous conversation about their beliefs, behaviours and brands. Born into a family with a strong tradition of craftsmanship, Nguyen decided to study at the Amsterdam Fashion Institute and founded her own atelier in Paris in 2001, making both haute couture and ready-to-wear collections. Switch to the app for an even smoother experience, Sign up for promotions, tailored new arrivals, stock updates and more straight to your inbox. And the cost for this could be 7200$ or more. Not only are eco-friendly fabrics like ultra-soft denim tencel used, but the brand also embraces factory conditions that respect their workers. Tjada DOyen McKenna, the CEO of Mercy Corps, shares insights on growing global food insecurity and deepening inequality. 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. Visit the Moi Dien studio, now in the heart of Ho Chi Minh City. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. Its centered around using natural fibers and reducing pollution. Her designs use everything from nuts and coal to stone and wood for trimmings, as well as organic cotton and hemp as fabric. Vietnamese are also buying more watches. Top-tier luxury houses like Dior, Louis Vuitton or Gucci as independent operators,, have been successful in Vietnam because they have a lot of legal and financial support to hire a good [local] business team.. And top tier brands have done very well even during Covid-19, added Gautier. Instagram influencer marketing has been proven to bring success to brands entering Vietnam. 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. This passion was behind her founding of The Factory Contemporary Arts Centre in Ho Chi Minh City, in 2016. Although Vietnamese fashion is still its nascent stage, it is slowly and surely making its mark on the world. Visit their website to see how their services can help your business succeed. In Hanoi and Ho Chi Minh city, the luminous storefronts of luxury powerhouses like Louis Vuitton and Dior dominate prestigious . Most recently, Swedish actress Rebecca Ferguson wore an off-the-shoulder gown designed by Cong Tri at the premiere of blockbuster Dune at 2021 Toronto International Film Festival. Coco Dressing Room sells pre-loved clothing from various international designers and local fashion stores. Among the signatories were Kering (owner of labels including Gucci and Saint Laurent); LVMH Louis Vuitton Mot Hennessy (owner of Fendi and Christian Dior); and two British fashion houses,. Men, women, and children styles are available at PUSW. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. So if the size of the local luxury market is not the issue, then what is preventing some brands from investing more in Vietnam? 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. Men. When Covid-19 hit, the hand-carried market supply chain all but disappeared, forcing customers to look at buying from authorised resellers or at self-operated flagship stores in the country. A Saigon-inspired design, Gia Studios style is modern and complex, and appeals to the working woman with a strong personal sense of style. See a List of: Luxury Fashion Brands and the conglomerates they belong to. In global. 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. Loan has been building her independent boutique, NGOTHAIBAOLOAN, since 2013. This is one reason some brands have yet to accurately appreciate the demand or penetration for their products in the country, a retail advisor who spoke on the condition of anonymity, recently told local press outlet Phong Vu. As a graduate of Ho Chi Minh City University of the Arts, Nguyen Cong Tri immediately impressed the industry with his very first collection Green Leaves. Louis Vuitton Vuittamins zip-up jacket $2,470 at LOUIS VUITTON Louis Vuitton Pochette Coussin handbag $2,530 at LOUIS VUITTON 8. Hanoi Radio Television Linda Mai Phung in her office in the Evolution3 factory putting the final touches to the SUPER VISION brand. Peace United Street Warriorz or PUSW is street style brand with a great story. 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. Examples of popular luxury fashion brands include Louis Vuitton, Burberry, Hermes, Salvatore Ferragamo, Gucci and Prada. 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. I want customers to know what theyre paying for, explains Morgan. 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. Operating in a Complex Business Environment. She believes that there are two components to sustainabilitytraceability and transparency. Traceability lies in fabric production. I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes, she explains. Several luxury brands want to enter or expand their presence in Vietnam since its retail market is growing, while rentals are low compared to other Asian locations such as Singapore and Hong Kong. I see it as upcyclingusing leftover fabrics to make new designs., Location: 26 Ly Tu Truong 31D, District 1, Ho Chi Minh City. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. 17] Valentino S.p.A. Another newcomer to our list of top 100 luxury fashion brands is the Italian-based fashion brand, Valentino. Even their leftover fabric is used to make small accessories like bags, earrings, and bracelets that are sold in the store. 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.. 1. (Getty Images) By Khanh Linh 30 May 2022 While respecting the traditional feminine style of the ao dai, Thuy transforms them into ethereal things of beauty. 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. Luxury brands share these features: they are expensive, high quality and long lasting, and have a limited distribution. There is a sizable gap between Porsche and Gucci, and this has been widened over the past year. Oh the lifestyle of the rich and the famous! "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 . Starting with selling t shirts, PUSW grew into creating a whole line of Hip Hop clothes taking inspiration from music videos and photos from different countries. Pursuitist is luxury redefined. A 2016 KnowtheChain ranking of the top 20 fashion brands' efforts to eradicate forced labour had similar findings. 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.. However, recent iterations of these laws were released in a manner that has definitely made investment far smoother.. 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. 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. They dont have to wear the clothes the way we think they should. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. 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%. I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes. Morgan Truong founder of Profile Man. 'FARFETCH' and the 'FARFETCH' logo are trade marks of FARFETCH UK Limited and are registered in numerous jurisdictions around the world. (VIFW). But Vietnam should no longer be an afterthought, say Vietnam-based industry veterans who contend that the market is underserved. 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 This Japanese brand is fixated on providing a wide range of quality socks that are both durable and comfortable. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. In the duration of 2017-2022, the GDPs of Mumbai and Kolkata are expected to grow by 28% and 29% respectively, while Bangalore is expected to register a growth of 48%. Luxury Vietnamese consumers use Instagram to . Women Men Kids. Nguyens impeccable contemporary cuts are infused with poetic details such as handmade embroidery. With four years of experience, Loan is a designer who shows great promise in the Vietnamese fashion industry. There is very little formal retail industry training in the country, aside from companies own in-house programmes. Luxury fashion brands sell upscale, sought-after and expensive clothing, shoes and accessories. We didnt even know that the term sustainable existed in fashion. 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. All rights reserved. Styles from Metisekos new organic cotton collection. And its a good idea to source 100% linen fabric from markets. 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. SSENSE's luxury fashion affiliate program is available through two networks: SOVRN and Skimlinks. 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. 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. Starting from a small out of the way studio, Moi Dien, living their brand story, has grown from strength to strength. The rising number of millionaires and brand loyalty among customers are anticipated to fuel the growth. At the same time, DAFC, which runs over 60 luxury brands, including Cartier and Rolex, announced its sales in Vietnam were up by 35 percent in 2020. 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. Trending now. This made Instagram a valuable platform for advertising, and influencers valuable assets for marketing . 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. A graduate of RMIT with a Bachelor of Fashion Merchandise Management, fashionable and straight-talking, Thu is not afraid to voice her opinions. 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. 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. However, Loans design philosophy is more quirky, which developed from her interest in unisex clothing, and style influences that include architectural forms. Mytheresa - Luxury Fashion and Designer Shopping in the US. You can wear a luxury brand garment several years after purchase and still . 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. 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. 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. Market research firm Nielsen forecasts that it will climb to 95 million by 2030. (GlobalLink). Take a tour across Ho Chi Minh City and you will see plenty of women wearing Nosbyns comfortable and accessible designs. 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. Prada is one of the world's leading luxury high fashion brands offering clothes, apparel, luggage and luxury goods manufactured with the finest artisanal techniques, using exquisite. Copyright 2023 FARFETCH UK Limited. 2021 . 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. 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. Further, Vietnams middle-class population has expanded massively in the past years. He burst into the industry in 2000 by winning 1st prize in the New Idea category at Vietnams Grand Prix. She pointed out that Vietnam was the only Southeast Asian country whose economy grew last year. The company's smartphone, Vsmart, which was launched in 2018, quickly grew to become one of the top five brands in Vietnam. Subscribing grants you this, plus free access to our articles and magazines. His attire can be seen on numerous covers of ELLE Vietnam and Harpers BAZAAR Vietnam. 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. Rustea is a minimalist, free-size clothing brand for those who want to be cozy and comfortable. 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. Vietnam's Luxury Market Is Heating Up Gucci and Tiffany are among the brands investing in the Southeast Asian market. And Lam Gia Khang still produces distinctly modern feminine tailoring using high-end fabrics and employing skilled folding techniques. 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. clothing manufacturing was over 70% of that slice. By 2026, the country will have25,812 high-net-worth individuals(UHNW)with liquid assets of at least US$1 million. How Successful Brands are Navigating Uncertainty in China and Southeast Asia, Exploring Southeast Asias 2023 Outlook Opportunities and Trends, Investing and Doing Business in Vietnam - Looking Ahead to 2023, Vietnam Labor Market 2023 - Latest Labor Law, Hiring Locals and Foreigners, Salary, and Expectations, An Introduction to Doing Business in Vietnam 2023, Tax, Accounting, and Audit in Vietnam 2022, An Introduction to Doing Business in ASEAN 2023, Vietnam's HR Landscape, Compliance, and Recruitment, Finding an Ideal Location Utilizing Vietnams Economic Regions, Digital Economy Prospects in Vietnam and Identifying Government Support, Browse or Search over 100 Doing Business Guides, Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Regional Comprehensive Economic Partnership, Luxury car brands are expanding their presence in Vietnam, Planning for Uncertainty: Global Staffing Solutions to Facilitate Your Vietnam Market Entry, Vietnams Health Supplement Market: Trends, Opportunities, Market Entry.
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