Vietnamese market attracts global fashion brands

Uniqlo, Dickies, Pull&Bear, Forever 21 and H&M are also planning to open stores in Vietnam to get a share of the $4.5 billion garment market, according to local media reports.

In comparison to the innumerable export-oriented companies, there are only a few well-known Vietnamese brands that have a presence in the domestic market. These include Nha Be, May 10, Viet Tien, Ninomaxx and PT 2000. This is because the local companies consider their domestic market to be small scale compared to large export markets because of low spending per capita in Vietnam.

On the other hand, foreign brands find Vietnamese market attractive. For example, Maison has brought 21 mid- and high-end fashion brands and owns 44 outlets in Vietnam. Likewise, Son Kim Fashion has successfully brought Jockey, Vera, Wow and J.Bus brands to Vietnam. It has now tied up with two Japanese investors to bring the US Dickies brand to Vietnam.

H&M has just entered Vietnam with a fashion show at a shopping centre in HCM City recently, while Uniqlo is set to open two shops this year.

HCM City, Vietnam’s fashion capital boasts of over 50 well-known international brands such as Zara, Mango, Gap, Topshop and Old Navy. Affluent Vietnamese are happy with the opening of these stores as they no longer have to visit Singapore or Bangkok to buy latest styles. (RKS)

Fibre2Fashion News Desk – India