;
Home / Knowledge / News / Fashion / Foreign fashion brands eye mergers, acquisition in Vietnam

Foreign fashion brands eye mergers, acquisition in Vietnam

11
Nov '18
Foreign fashion brands eye mergers, acquisition in Vietnam
Though many foreign fashion brands like Zara, H&M and Mango have been present in Vietnam, many such brands from abroad are now acquiring stakes in Vietnamese companies to strengthen their position in the domestic market. Japan’s Uniqlo recently acquired a 35 per cent stake in Vietnamese firm Elise and will open its first store in Ho Chi Minh City next year.

Elise has more than 100 outlets across Vietnam.

Uniqlo’s store in Vietnam will be operated through a joint venture between Fast Retailing and Mitsubishi Corporation.

Another Japanese apparel manufacturing giant Stripe International also acquired Vietnam’s NEM Group’s women’s casual brand NEM late last year to penetrate the country, according to Vietnamese media reports. Stripe saw Vietnam as a strategic market.

Tran Thi Thanh Thuy from the Multilateral Trade Policy Department under the Ministry of Industry and Trade said that the deals proved that the Vietnamese market is attractive to foreign firms with advanced technologies, experience, efficient governance and strong finances.

More than 200 foreign fashion brands operate in Vietnam, offering a wide range of products from mid- to high-end ones, and holding 60 per cent of the market share, according to the Vietnam Retailers Association.

Foreign brands’ interest is because of the industry’s high average growth rate of 15-20 per cent, said chairwoman of the Vietnam Retailers Association Dinh Thi My Loan. A Nielson report said Vietnamese spending on clothes is now the third priority, after spending on food and savings. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pxhere

Textiles | On 24th Jan 2019

Cabinet okays National Bench of GST Appellate Tribunal

The Union Cabinet, chaired by Prime Minister Narendra Modi, has...

Courtesy: Pxhere

Textiles | On 24th Jan 2019

China's textile & apparel exports up 3.5% in 2018

Textile and apparel exports from China increased by 3.5 per cent...

Textile firm fully owned by blacks launched in S Africa

Textiles | On 24th Jan 2019

Textile firm fully owned by blacks launched in S Africa

A multi-million-rand textile firm, Africa Bespoke Apparel (ABA), was...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


January 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search