When asked by Vietcetera on the motivations for his collections, Lam said I dont want women to be beautiful for men, I want women to be beautiful for themselves. Fashion is valued as the biggest luxury segment, followed by leather goods, cosmetics and fragrances. But basic pieces never fail usthey are long-lasting. Knowing her target audience, Coco Dressing Room runs pop-ups in cool, hip places across Ho Chi Minh City like Lusine and Le Cafe Des Stagiaires. Luxury products are usually promoted using photographs. Copyright 2023 FARFETCH UK Limited. As of April 2020, Viet Tien was the leading fashion store chain with 467 . Interestingly, future wealth trends appear to give Vietnam an edge over some of its regional neighbours where luxury brands continue to disproportionately invest. 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. Metiseko co-founders Erwan and Florence in their 157 Dong Khoi store. Moreover, among the most common account types followed by this market are influencers, experts, celebrities, and bloggers. Luxury Fashion - Vietnam Vietnam Highlights Revenue in the Luxury Fashion segment amounts to US$288.20m in 2023. And Lam Gia Khang still produces distinctly modern feminine tailoring using high-end fabrics and employing skilled folding techniques. There needs to be a holistic approach. Vietnam Briefingis produced byDezan Shira & Associates. Birthday Discount: In Vietnam, a large number of fashion stores have discount policies for customers on their birthday. 1. I love fashion and I want to continue to express our world through it. Pursuitists are ahead of the curve & authentic. 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. And top tier brands have done very well even during Covid-19, added Gautier. 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. And its a good idea to source 100% linen fabric from markets. Nguyens impeccable contemporary cuts are infused with poetic details such as handmade embroidery. Car sales and wine imports, before being impacted by the pandemic, had maintained consistent growth of 12.9 percent and 9.8 percent between 2016 and 2019. But she is actively developing the transparency of Profile Man. Luxury brands share these features: they are expensive, high quality and long lasting, and have a limited distribution. 2022 . Similar to inChina, the highly affluent in Vietnam are constantly looking for opportunities not only for investing their money, but also to spend it. 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. Big European luxury brands continue to appeal to the quality and logo obsessed shoppers of Asia. Tran believes global luxury brands in Vietnam are disadvantaged by not yet having access to professional staff training platforms. Prices: $60-$210. In no order of preference, these are our top 8 Vietnamese brands worth checking out! 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. Ive spent years traveling to various traditional fine-craft villages all over Vietnam to learn their techniques. Linda has launched SUPER VISION, a cycling-focused urban streetwear brand offering fashionable, functional clothing to the European market. Further, Vietnams middle-class population has expanded massively in the past years. Anyone can wear the clothes that I design and I only make them with natural fabrics, explains Tom. Read our full article about the evolution of the ao dai here. our latest doing business publications, and access to our Asia archives. Unsubscribe anytime at the bottom of our emails. Coming from four generations of tailors, it is no wonder Lams works are all about attention to detail. Also, Vietnam's number of High Earners, Not Rich Yet individuals (HENRYs), and ultra-wealthy are growing. Tien Nguyen, its deputy director in charge of luxury fashion brands, said demand from middle-class and wealthy clientele remained strong last year. Visit the Moi Dien studio, now in the heart of Ho Chi Minh City. You must have branding services to create your brand image and give an assertive message to your target audience. 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.. The degree to which Vietnam is underserved by global luxury brands is hard to estimate but the gap that exists in an adjacent high-end sector, the premium smartphone market, is revealing. Styles from Metisekos new organic cotton collection. A 2016 KnowtheChain ranking of the top 20 fashion brands' efforts to eradicate forced labour had similar findings. Nosbyn specialises in what they call lifestyle clothing and prefers not to see themselves as designer fashion they focus on everyday wearable clothing. Luxury car brands are expanding their presence in Vietnam. Thats what makes a fashion brand sustainable, Jo explains. 1: 1: Porsche: Germany: $33,713M: $34,326M: AAA: AAA-2: 3: Louis Vuitton: France: $23,426M: $14,858M: AAA: AAA-3: 2 . Inspired by Vietnams military, it won first prize in the New Idea category at the Vietnam Collection Grand Prix 2000. The European UnionVietnam Free Trade Agreement (EVFTA) should help stimulate more brands to do just that. The high-net-worth demographic in Vietnam is forecast to grow faster than in many of the more established luxury markets of Southeast Asia. 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. Imagine stopping by Tiffany and Co. on your way to lunch to pick out that perfect piece of luxurious jewelry and then spending the . According to the Worlds Top Exports data, from 2018 to 2019, wine consumption increased by 173.6 percent. This made Instagram a valuable platform for advertising, and influencers valuable assets for marketing . "The Vietnam market is at an ideal time for the entry of global luxury brands." In fact, the designer has embraced ethical fashion ideals since his undergraduate years after realizing that the fashion industry is one of the biggest contributors to pollution in the world. So we hitched a ride out to District 9 to hear her thoughts on five local brands pursuing sustainable fashion goals in Vietnam. In 2019, Moi Dien was one of the 16 finalist in the London International Fashion Showcase. The TimTay collection, on the other hand, takes a different approach. 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. It is about the experience, beyond just expensive products. KIDSWEAR. 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). Now, I apply those skills to my designs so others can appreciate them too, says Hoang Tu. 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. For more information read our Terms & Conditions. 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.. There is a sizable gap between Porsche and Gucci, and this has been widened over the past year. An aesthetic that is daring, playful, and not afraid of colour, Thuy Design House brings together tradition and ingenuity. Globally, e-commerce is facing a recession, but Vietnam appears well placed to weather the storm. Thuy is for the woman who wants to wear art. Founded in 1921, Gucci is one of the most recognizable fashion brands in the world. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. Voting Rules. You are currently shipping to Vietnam and your order will be billed in USD $. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. SOVRN pays a default commission of 12% (dropping to 9% on markdown products) and cites an average order value of $231.19, with an average conversion rate of 1.1%. 1. PUSW was founded in 2008 by Viet Max, a Vietnamese Hip Hop dancer, TV talent-show judge, video producer, illustrator, and artist. Being a . Instagram is a visual platform that allows luxury brands to showcase their best work. Lam Gia Khang, born in 1990, is a breakthrough designer in the Vietnamese fashion industry. However, Loans design philosophy is more quirky, which developed from her interest in unisex clothing, and style influences that include architectural forms. 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%. Country . . 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This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. Tran Thi Hoai Anh, GlobalLinks founder and president, said the new store will occupy the Pham Ngoc Thach Street frontage of Diamond Plaza, adding to her portfolio of multi-brand luxury boutiques, Runway and RRR, which have several locations in both Hanoi and Ho Chi Minh City. 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 gap between Vietnams increasingly diverse tourism sector and Thailands more advanced travel retail market also has the potential to narrow. The luxury industry in Vietnam is still underserved and underestimated despite the countrys growing demographic of high income and the countrys distinct favor of luxury brands. "Several high-fashion brands are slated to open [during the second quarter of 2022], and beyond. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. 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. The Best Luxury Fashion Brands. In this collection, co-founders Hoang Anh and Hoang Tu highlight traditional Vietnamese craftsmanship. Here are 60 Best Luxury Fashion Blogs you should follow in 2023. As Vietnamese fashion for women continues to take great strides into the high-end international market, weve put together a list of seven designers. 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.. They definitely have a holistic approach to sustainability., Locations: Mitsekos organic cotton store is at 157 Dong Khoi, District 1, Ho Chi Minh City, their Mulberry silk store at 101 Dong Khoi, District 1, Ho Chi Minh City, and four other locations in Vietnam. 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. 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. She sees sustainable fashion as not simply making clothes but a mindful way of creating and consuming fashion. 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. TL;DR: Several luxury brands had notable shifts in our annual ranking. (VIFW). Thuy Nguyen founded Thuy Design House in 2011 with hopes of blending art and fashion. 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. and Prada) came behind the high-street retailers. 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. 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.. Before you go out and about for a day of shopping, do check out our food guides for places to eat in Vietnam! Often, the fabrics are leftovers from textile factories, so they can be high-quality. If you are in Hanoi, do also check out visionary, sustainable brand Kilomet109 and functional workwear Ngo Thai Bao Loan. Updated April 24, 2022 62.4k votes 9k voters 360.9k views. Over the past few years, aside from Vietnam International Fashion Week (VIFW) and other home-based fashion events like the Elle Fashion Show and the Fashionology Festival, Vietnamese designers have received a large number of invitations to present their collections in major fashion weeks around the world. The cost of flying to Singapore is less than US$100. Thanks to these FTAs, luxury goods can become more affordable, allowing more access to shoppers. 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. I havent been able to completely develop this part of my brand yet because its so new. The finely crafted Italian pieces produced by this top designer are renowned for their high-quality and stylish designs. 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.. But Vietnam should no longer be an afterthought, say Vietnam-based industry veterans who contend that the market is underserved. 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. And theyre sustainable, explains Jo. 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. Loan has been building her independent boutique, NGOTHAIBAOLOAN, since 2013. 6 Thi Sach, Ben Nghe Ward, District 1, HCMC, Viet Nam. Trending now. 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. Men. US. 2021 . 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. While the most exclusive luxury brands sell truly expensive and uniquely stylish pieces, fashion houses from Salvatore Ferragamo . Gucci is the hottest brand online, again. 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. 2023 Vietnam Is Awesome. 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. Peace United Street Warriorz or PUSW is street style brand with a great story. Visit their shop in Saigon! What Morgan might be able to do is contact suppliers at the end of the season to purchase leftover fabric at a discounted price. 3. 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. From dreamy to frenetic. Overall, the luxury brands (these included Hugo Boss, Kering (Alexander McQueen, Gucci, Stella McCartney, etc.) Nosbyn is also one of the few Vietnamese casual clothes fashion brands to be stocked in the US in San Francisco and Los Angeles. I style the collared shirt, my favorite piece, with pants, dresses, and even skirts, but everyone is different Jo explains. Metiseko was founded almost a decade ago by Florence Mussouand Erwan Perzo in Hoi An. 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. Additionally, a report prepared by the World Bank expects Vietnam to reach upper-middle-income status by 2035 with a per capita income of more than US$7,000. Luxury brands have started to inject investment in retail outlets where clients are underserved. Hoi An also offers a wide range of shops where you can get custom-made clothes, check it out! The luxury sector can also benefit from Vietnams free trade agreements (FTAs). 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. Vietnamese Fashion For Women: 7 Of The Best Designers. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. Because you do need a professional design. Vietnam's Luxury Market Is Heating Up Gucci and Tiffany are among the brands investing in the Southeast Asian market. 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. Kids. GlobalLink-owned multi-brand luxury boutique Runway has several branches across Ho Chi Minh City and Hanoi, Vietnam. The epitome of luxury fashion, Gucci remains the world's top fashion brand and second-biggest luxury brand in the world. Unsubscribe anytime at the bottom of our emails. I did that many times with my brand!, Location: Nosbyn @ 77 Mac Thi Buoi, District 1, HCMC, Vietnam. 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.