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. Apart from clothing, Metiseko also produces accessories and homeware products tailored for a refine palette. Vietnamese are also buying more watches. The brand is known for using traditional materials like Vietnamese silk and brocade, paired with intricate beading and embroidery work. 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. Grimm DC has become a favorite brand for shopaholics because everything can be found here. Visit their website to see how their services can help your business succeed. 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. Operating in a Complex Business Environment. That makes Linda the perfect person to curate sustainable fashion in Vietnam. (Getty Images) By Khanh Linh 30 May 2022 And Lam Gia Khang still produces distinctly modern feminine tailoring using high-end fabrics and employing skilled folding techniques. 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. ; The top 5 brands alone capture 56% of the affluent consumers' attention online. And theyre sustainable, explains Jo. In addition, Tom is taking other steps to reduce his own brands environmental impact. Customers can shop the collection online and in stores, or search Nosbyn at shopee. Vote up the highest quality luxury brands. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. Tom positions his sturdy tote bag, made of linen and canvas, as an alternative to leather bags. 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. Country . Apr 12, 2022. This is the embodiment of their brand culture. 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. PUSW was founded in 2008 by Viet Max, a Vietnamese Hip Hop dancer, TV talent-show judge, video producer, illustrator, and artist. Top fashion ecommerce trends in 2023. 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. She believes that there are two components to sustainabilitytraceability and transparency. Traceability lies in fabric production. The Perfect Balance: How Luxury Brands Can Maintain - Forbes 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. Vietnam: leading fashion store brands based on store count 2020 - Statista View Trip The European UnionVietnam Free Trade Agreement (EVFTA) should help stimulate more brands to do just that. Vietnam recently has signed several new-generation FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam FTA (EVFTA), the UK-Vietnam FTA(UKVFTA), and most recently the Regional Comprehensive Economic Partnership (RCEP), where tariffs and regulatory barriers are reduced. So we hitched a ride out to District 9 to hear her thoughts on five local brands pursuing sustainable fashion goals in Vietnam. 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. Take a tour across Ho Chi Minh City and you will see plenty of women wearing Nosbyns comfortable and accessible designs. 43 Top Designer Brands for Women: Luxury Brands List to Shop from - Glowsly Linda has launched SUPER VISION, a cycling-focused urban streetwear brand offering fashionable, functional clothing to the European market. CONG TRI is a subsequent luxury label in Vietnam which is established by Nguyen Cong Tri - the most Vietnamese famous fashion designer. Though Gucci remained silent on the matter, if recent luxury market activity in the country is any indication, it is probably more a case of the former than the latter. Though growth fell marginally last year due to several months of national lockdown resulting from the Delta variant outbreak, the economy is predicted to rebound to 5.5 percent growth this year. Gucci. 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. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. 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. Unsubscribe anytime at the bottom of our emails. A remarkable point is that the decoration style of these stores always has bright lights and dynamic staff. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. Facebook is currently the countrys most popular social-commerce platform, followed by Instagram, and the local chat-based platform Zalo. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. As international borders are only beginning to slowly reopen, no one can predict the extent to which repatriation of luxury spend back to Vietnam might fall away as both grey market activity and legitimate travel retail resumes. Top Marketing Strategies for Luxury Brands in Vietnam 17] Valentino S.p.A. Another newcomer to our list of top 100 luxury fashion brands is the Italian-based fashion brand, Valentino. Founded in 2011, the high-end Vietnamese fashion brand Metisekos concept is all in the name. Nguyens impeccable contemporary cuts are infused with poetic details such as handmade embroidery. Big European luxury brands continue to appeal to the quality and logo obsessed shoppers of Asia. There needs to be a holistic approach. 1. The statistic shows the leading fashion store brands in Vietnam in 2020, ranked by the number of stores. 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. Lining the famous Dong Khoi street, of course one will find the grand old fashion houses like Louis Vuitton. 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. Metiseko was founded almost a decade ago by Florence Mussouand Erwan Perzo in Hoi An. Switch to the app for an even smoother experience, Sign up for promotions, tailored new arrivals, stock updates and more straight to your inbox. 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.. 2021 . Mytheresa is an online shopping destination for children's, men's, and women's luxury fashion and lifestyle design. With over 30 million socks manufactured annually, the Japanese brand is conscious about the it's environmental footprint. He reduces waste by using leftover fabric to make accessories and has plans to use canvas to package his products instead of paper packaging. Luxury Market in Vietnam An emerging market in prospect - Academia.edu Rustea founder Jo Lams philosophy is to use 100% natural fabrics. Lindas Insights: I like the central idea of encouraging people to be different. Sales have plummeted, leading to forecasts for a precipitous decline in 2020 revenue and massive uncertainty about the ability of many brands to rebound. Name . A young, educated, and urban population is the backbone of consumption. Luxury car brands are expanding their presence in Vietnam. Top 15 Most Popular Luxury Brands Online - Luxe Digital Vietnam's Luxury Market Is Heating Up | BoF - The Business of Fashion Coming from four generations of tailors, it is no wonder Lams works are all about attention to detail. Local fashion e-commerce start-up Coolmate, which recently completed a $1.1 million fundraising round, said its revenue last year was up 3.5 times compared to the year before, reaching $6 million. 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%. Vietnamese Fashion For Women: 7 Of The Best Designers 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. Lam was a runner-up in Vietnam Project Runway in 2013 and became Elle Designer of the Year in 2014 for his first label LAM GIA KHANG. 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. The majority of the luxury segment in retail is consolidated under a few conglomerates. You can wear a luxury brand garment several years after purchase and still . Because you do need a professional design. 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.. MAJESTIC TURKEY BY CULTURE TRIP Travel from the bazaars of Istanbul to the beautiful beaches of Antalya. Instagram is a visual platform that allows luxury brands to showcase their best work. The calendar is quite packed." 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 . I want customers to know what theyre paying for, explains Morgan. 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. What makes a popular luxury fashion brand? | Vogue Business After that, she launched MYMY by PHUONG MY, a more accessible offshoot of the label, in 2015. In Hanoi and Ho Chi Minh city, the luminous storefronts of luxury powerhouses like Louis Vuitton and Dior dominate prestigious . 2021 . Prices: $60-$210. The rise in CAGR is attributable to this market's demand and growth, returning to pre-pandemic levels once the pandemic is over. Interestingly, future wealth trends appear to give Vietnam an edge over some of its regional neighbours where luxury brands continue to disproportionately invest. 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%. Vietnam Briefing has developed into a premium source for insight on doing business in Vietnam. Fashion should be expressive. 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. This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. Luxury brands see great potential in Vietnam The dresses are often compared to pieces of art, looking like wearable paintings. Tjada DOyen McKenna, the CEO of Mercy Corps, shares insights on growing global food insecurity and deepening inequality. In 2019, Moi Dien was one of the 16 finalist in the London International Fashion Showcase. . By allowing her customers to better understand the price behind her clothes, she hopes that they will appreciate her efforts at working towards sustainability. The new generation of Vietnamese fashion pioneers are bold, cosmopolitan, and very often aware of the impact that fashion has on the environment. Before you go out and about for a day of shopping, do check out our food guides for places to eat in Vietnam! The 10 Most Popular Luxury Brands In the World - Next Luxury In a report titled "Has Luxury Gone too Mass? What is behind the rise in mid-priced luxury labels? - Harper's BAZAAR Mytheresa - Luxury Fashion & Designer Shopping in the US Not only are eco-friendly fabrics like ultra-soft denim tencel used, but the brand also embraces factory conditions that respect their workers. 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. Vietnam News in Brief: Weekly Roundup March 3, Explainer: Countervailing and Antidumping Duties in Vietnam, Vietnam E-Commerce: Stable in Face of Global Slowdown, Vietnams Competition Law: Notes for M&A Transactions, Vietnams Import-Export Turnover Tops US$46.5 Billion in January, Vietnam News in Brief: Week Ending February 24, Halal Food Market in Vietnam Small, but Huge Export Opportunity, Vietnams Agricultural Sector: Rising Star in Food Production, Cross-Border and Digital Advertising in Vietnam: An Overview, Investing in Vietnamese Startups: Quick Guide 2023, E-mobility Seminar Sheds Light on Vietnams EV Market, Explained: Vietnams FiT Rates for Solar and Wind Power Projects, Vietnam Milks EAEU for all its Worth with New Dairy in Russia, Compliance, Labor, and Tax Due Dates in Vietnam (2023), Foreign Contractor Tax in Vietnam: A Complete Guide for 2023, Special Consumption Tax in Vietnam (2023), Vietnams E-invoice Implementation: Prepare for July 2022, Vietnam Extends CIT, VAT, Land Rent Payment to Aid Business Recovery, Tax, Accounting, and Audit in Vietnam 2022 - New Publication from Dezan Shira & Associates, Vietnam Approves Tax System Reform Strategy to 2030, 8 Regulations and Policies Supporting Startups in Vietnam, Explainer: Vietnams Second Land Rent Cut for Groups Affected by COVID-19, IP in Vietnam: One Little Pig and a Big Bad Lawsuit, Permanent Court of Arbitration Opens New Office in Hanoi, Vietnam Visa Costs: What You Need to Know in 2023, Spain, Poland, Italy, Hungary Pharma Companies Gain Equal Access to Vietnam Market, How are Foreign Investors Responding to Vietnams New Data Localization Regulation, Vietnamese New Year 2023: How to Prepare Your Business, Vietnam's HR Landscape, Compliance, and Recruitment - Latest Issue of Vietnam Briefing Magazine, Gender Equality and Prevailing Challenges in the Workplace in Vietnam, Vietnam's Tech Startups: Human Resource Challenges, Vietnams Visas and Work Permit Procedures, Typhoon Season in Vietnam: How to Prepare Your Business, [CN] Investing and Doing Business in Vietnam | - 2023, Is China Really Coming Back? Pursuitists are ahead of the curve & authentic. 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. 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. Luxury Fashion - Vietnam Vietnam Highlights Revenue in the Luxury Fashion segment amounts to US$288.20m in 2023. Some of these classic designer brands like Herms and Louis Vuitton originated in the 1800s but have evolved to present-day ideas. 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. She is a huge advocate for changing our consumption habits, apart from walking the talk with Coco Dressing Room, Thu often speaks at panel discussions and fireside chats around Saigon and internationally. 3. Fashion and Luxury Consulting | Bain & Company Sported by the biggest celebrities, Gucci is an enticing brand for those who like to take some fashion risks. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. According to Metisekos website, it is their unique textiles that makes them stand out from the crowd, We draw from inspiring Vietnamese landscapes and folk traditions to create original fabric designs that capture the essence of this enchanting country. 1. Cancel. In fact, before shifting to fashion, she majored in Fine Art and successfully defended her doctoral thesis at the Kiev Fine Art University. food guides for places to eat in Vietnam! Rustea is a minimalist, free-size clothing brand for those who want to be cozy and comfortable. Globetrotting Clients Want Greater Choice. The 43 Top Japanese Clothing Brands for Cool Clothes (2023) But, according to estate agent Knight Franks 2021 wealth report, Vietnam already has more wealthy people able to afford luxury goods than Malaysia. Louis Vuitton Vuittamins zip-up jacket $2,470 at LOUIS VUITTON Louis Vuitton Pochette Coussin handbag $2,530 at LOUIS VUITTON 8. The Most-Searched Brands of 2021 (So Far) Indicate a Return to High Fashion 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. If you are in Hanoi, do also check out visionary, sustainable brand Kilomet109 and functional workwear Ngo Thai Bao Loan. In the second annual BrandZ France ranking, released today by WPP and Kantar which tracks and anticipates the evolving environment for the country's . The firm assists foreign investors throughout Asia from officesacross the world, including inHanoi,Ho Chi Minh City, andDa Nang. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. Strongly influenced by the image of Asian women and their exquisite virtues, Phuong Mys designs emphasize feminine silhouettes with a modern twist. CONG TRI is the go to brand for any stylish woman, and has been worn by many Vietnamese A-list celebrities. In this post, we discuss top consumer brands that have most or a significant amount of manufacturing in Vietnam, including: SAMSUNG NIKE INTEL FJLLRVEN ADIDAS LG THE NORTH FACE FOXCONN MERRELLS FOOTWEAR EVERLANE Other Notable Brands Where do Vietnamese shops get their discount brand-name products? It is no wonder as the the labels designer Thuy Nguyen is a painter who graduated from Hanoi Fine Art University. As a result, Vietnam is rising as a strong contender to China with its low labour cost and multiple free trade agreements. Designer Nguyen Cong Trai is considered one of the most influential Vietnamese fashion designers. With a few stores across the heart of Saigon, be sure to pay a visit to Metiseko on your trip. Luxury Vietnamese consumers use Instagram to . "The Vietnam market is at an ideal time for the entry of global luxury brands." Sign up for your complimentary subscription to our weekly newsletter here. 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. While the most exclusive luxury brands sell truly expensive and uniquely stylish pieces, fashion houses from Salvatore Ferragamo . As of April 2020, Viet Tien was the leading fashion store chain with 467 . 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. 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. An aesthetic that is daring, playful, and not afraid of colour, Thuy Design House brings together tradition and ingenuity. The Best Luxury Fashion Brands. You are currently shipping to Vietnam and your order will be billed in USD $. 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. KIDSWEAR. Metiseko is known for its casual, comfortable style that appeals to both older and young people alike. Profile Man, formerly known as Profile 11, is the Vietnamese fashion brand for the modern working professional. And its a good idea to source 100% linen fabric from markets. With four years of experience, Loan is a designer who shows great promise in the Vietnamese fashion industry. Take a trip to Ho Chi Minh Citys central districts to understand the fashion renaissance bourgeoning. 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). The regions $89 billion fashion industry is set for unprecedented change in the upcoming years thanks to a mix of factors, from shifting consumer behaviours to new government investment policies, according to BoF Insights new report. His attire can be seen on numerous covers of ELLE Vietnam and Harpers BAZAAR Vietnam. Interestingly, most of the biggest luxury brands come mainly from several countries around the world. Beware Moi Dien is not for the fainthearted customer. US. 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. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. Vietnam is home to talented designers whose brands are increasingly being thrust into the international spotlight. Nosbyn specialises in what they call lifestyle clothing and prefers not to see themselves as designer fashion they focus on everyday wearable clothing. Devon Nguyen, a Poland-based designer, shifted from Central Saint Martins to The London College of Fashion to pursue her passion for womenswear. From dreamy to frenetic. 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. When international brands map out their Southeast Asia expansion strategies, Singapore and Thailand are usually top priorities followed by Malaysia and Indonesia. Vietnam's startup sector benefits from a myriad of supportive policies and regulations. The annual report on the most valuable and strongest luxury & premium 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 . Founder Morgan Truong describes the style as minimalism with a twist. Loan has been building her independent boutique, NGOTHAIBAOLOAN, since 2013. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. Knight Frank estimates that the number of people with a net worth of $1-30 million will balloon by 32 percent to over 25,800 by 2025. Find spotlight and explainer articles, news updates, factsheets, useful tools, as well as webinars featuring on-the-ground advisors. Vietnam Briefings Doing Business guide provides vital economic, geographic, and regulatory insights for business investors, managers, or expats to understand Vietnams. A 22.7% drop in sales has seen the Italian fashion house's valuation dip from $17.6 billion in 2020 to $15.5 billion in 2021. This potent combination means that we cannot wait to see what else they come up with. Known to sell quality fabrics and outfits with subtle details, Nosbyn is a good place to shop for wardrobe staples t-shirts, midi dresses, collared stops, neat skirts. How much does it cost to start a luxury clothing brand? It is about the experience, beyond just expensive products. Metiseko co-founders Erwan and Florence in their 157 Dong Khoi store. Discover the latest in . He opened his eponymous brand in 2014 to showcase ready-to-wear collections inspired by images of elegant, chic downtown girls. She sees sustainable fashion as not simply making clothes but a mindful way of creating and consuming fashion. Luxury Brand: Definition, Characteristics & Examples