Since then, the designer has continued to evolve, and more recently developed an interest in avant-garde fashion, which is why he decided to found The House of NGUYEN CONG TRI, concentrated on haute couture design and employing handmade techniques like hand-ironed pleating, interlacing and sequin embellishments. Her garments are a perfect balance of clean cuts, luxury fabrics, and bold patterns. Nguyen Cong Tri: The pioneer of Vietnamese haute couture Among the top Vietnamese designers today, Nguyen Cong Tri is perhaps the most recognized name. 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. 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 company manufactures products like processed milk, curd, ice cream, and mayonnaise. Though some brands continue to underestimate the market, others are investing in retail outlets where clients are often underserved. 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.. 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. It brought two new fashion brands to Vietnam last year, Tiffany & Co and Montblanc, and opened their first stores in Hanoi and HCMC respectively. Venus Tran, editor-in-chief of Harper's Bazaar Vietnam and chairwoman of Sunflower Media, notes that luxury purchases in Hanoi have been somewhat more commonplace in the past, while Ho Chi Minh. 5. In the new Vietnam, theres an emerging environmental consciousness happening as the country grows economically. 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. We feel overwhelmed by the options in our wardrobe, none of which seem wearable. There is very little formal retail industry training in the country, aside from companies own in-house programmes. One of Vietnams biggest fashion distributors, Duy Anh Fashion and Cosmetic (DAFC), added Tiffany & Co. and Montblanc to its portfolio of more than 60 international brands last year, following the return of Christian Louboutin in 2020. That makes Linda the perfect person to curate sustainable fashion in Vietnam. However, Loans design philosophy is more quirky, which developed from her interest in unisex clothing, and style influences that include architectural forms. The finely crafted Italian pieces produced by this top designer are renowned for their high-quality and stylish designs. Country . And Lam Gia Khang still produces distinctly modern feminine tailoring using high-end fabrics and employing skilled folding techniques. CONG TRI is a subsequent luxury label in Vietnam which is established by Nguyen Cong Tri - the most Vietnamese famous fashion designer. Also brands such as Prada founded in 1913, Chanel founded in 1909, and Burberry founded in 1856, seem to confirm this thesis. From dreamy to frenetic. 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 . "In French, 'metis' or 'metissage' is used to describe something that is a combination of two different cultures," Erwan Perzo explains. Gautier described the market as still having a challenging bottleneck for international brands. Thuy is for the woman who wants to wear art. 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. 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 . In Hanoi and Ho Chi Minh city, the luminous storefronts of luxury powerhouses like Louis Vuitton and Dior dominate prestigious . https://www.facebook.com/cocodressingroom/. 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. Styles from Metiseko's new organic cotton collection. With over 30 million socks manufactured annually, the Japanese brand is conscious about the it's environmental footprint. Sales have plummeted, leading to forecasts for a precipitous decline in 2020 revenue and massive uncertainty about the ability of many brands to rebound. Subscribing grants you this, plus free access to our articles and magazines. Agenda-setting intelligence, analysis and advice for the global fashion community. The Vogue Business Luxury Fashion Index, which surveyed more than 8,000 luxury consumers worldwide, found that Alexander McQueen, Versace and Valentino outperformed its peers in digital marketing and brand perception. Lindas insights: I like the timeless style. In 2020, Vietnam overtook Thailand as the Southeast Asian country with the highest ownership of iPhones by proportion of population. It stands as a model for sustainability in the industry. Recently her designs were even the star of a movie, Co Ba Saigon, about an ao dai tailors in pre-75 Saigon. If you have more time in Saigon, these new brands, Lykke and Giulia Fashion House have just arrived and are making a splash on the scene, while Lib is a hot favourite among the youth. Styles from Metisekos new organic cotton collection. Meanwhile, the country has a relatively young population, with a median age of 32.5 years. In the second annual BrandZ France ranking, released today by WPP and Kantar which tracks and anticipates the evolving environment for the country's . 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. Although Vietnamese fashion is still its nascent stage, it is slowly and surely making its mark on the world. Luxury Fashion - Vietnam Vietnam Highlights Revenue in the Luxury Fashion segment amounts to US$288.20m in 2023. Born and raised in Hanoi, the nations capital, designer Thuy Nguyen was strongly inspired by traditional art and Asian paintings from an early age. The company's smartphone, Vsmart, which was launched in 2018, quickly grew to become one of the top five brands in Vietnam. Though the glamour quotient kept high society matrons talking about the gala for weeks, business leaders were focused on another aspect of the event that had piqued their curiosity. Nancy noted that she could not find what she was looking for, something simple, beautiful, and affordable. Distributors of luxury brands in Vietnam seem to be doing well. Examples of popular luxury fashion brands include Louis Vuitton, Burberry, Hermes, Salvatore Ferragamo, Gucci and Prada. The countrys import of watches increased by 28.2 percent annually from 2016-to 2020. Smart retailers have the potential to benefit from the burgeoning consumer class in Vietnam. Copyright 2023 FARFETCH UK Limited. We wanted to create a 100% environmentally and socially responsible brand made with high-end fabrics and production and distribution all in the same country., For Florence, the companys other co-founder, Metisekos mission to promote sustainable practices in the fashion industry is personal. A 2016 KnowtheChain ranking of the top 20 fashion brands' efforts to eradicate forced labour had similar findings. The top scoring luxury brand was PVH with 57 out of 100. 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%. The majority of the luxury segment in retail is consolidated under a few conglomerates. As a famous Local Brandwith diverse designs from T-shirts, Hoodies, Croptops, shirts, tote bags, hats, keychains. I understand how hard it can be hard for a Vietnamese fashion brand to get fabric from a supplier when ordering small quantities. Vietnam International Fashion Week (VIFW) CEO Trang Le with designer Vo Cong Khanh and models in the May 2022 edition. The cost of flying to Singapore is less than US$100. Join our Facebook Group with over 168.100 travelers, expats and locals who love Vietnam. From bamboo furniture to graceful gemstone jewelry, here are 10 product designers in Vietnam you should know about. Peace United Street Warriorz or PUSW is street style brand with a great story. Instagram is a visual platform that allows luxury brands to showcase their best work. 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. 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. This is indicative of the remarkable strides into the global high-end fashion market Vietnamese designers have taken. 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. Sign up for promotions, tailored new arrivals, stock updates and more - straight to your inbox . (GlobalLink). 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. Vietnam is home to talented designers whose brands are increasingly being thrust into the international spotlight. 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. Vietnam already accounts for the third-largest ASEAN wine consumer market. Nosbyn is one of the most loved Vietnamese casual clothing brand, with many locations across Ho Chi Minh City and Hanoi. clothing manufacturing was over 70% of that slice. His attire can be seen on numerous covers of ELLE Vietnam and Harpers BAZAAR Vietnam. ; Most brands, especially those in the top 10 . Featured brands. Women. I incorporate minor trendy details, like stripe variations, while retaining the everyday wearability of the clothes, she explains. Moreover, clothing manufacturing was over 70% of that slice. Some of these classic designer brands like Herms and Louis Vuitton originated in the 1800s but have evolved to present-day ideas. Vietnamese are also buying more watches. 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. By 2025, it is forecast to cross the US$1 billion. The future is also bright for VinFast, the Vietnamese automaker, which has begun delivering its battery-electric SUV the VF-31- to customers in its home market. 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. Instagram influencer marketing has been proven to bring success to brands entering Vietnam. In 2011, she returned to Vietnam and founded Devon London. Appealing to young Vietnamese not just because of its unique style, Moi Dien speaks their language, understanding the new fashion has to be sustainable fashion for the younger gen. Moi Dien is at the forefront of green fashion in Vietnam leading the charge is Moi Diens founder and designer Tom Tran. The increase in privately-owned cars also significantly impacts the demand for some segments of high-end apartments, resort real estate, and land plots. 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. 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