More than 50 well-known brand names, such as Giordano, Mango, Zara, Topshop, Gap and Old Navy, have opened stores in Ho Chi Minh City.
First store of Old Navy in Vietnam. Photo: afamily.vn
While Old Navy opened its first store last month, H&M launched its brand name last weekend with a fashion show at a leading shopping center in the city.
Other fashion companies, including Pull&Bear, Uniqlo and F21, will also enter the market this year with their own stores scheduled to open in Hanoi shopping centers.
“Before launching our designs in Vietnam, we spent time researching the country’s economic development, culture and living conditions," said a representative of Zara, who noted that the country would become one of the most important markets for the popular fashion brand from Spain.
Although their prices are higher than local products, ranging from VND 300,000 (USD 15) to over VND 1.5 million (USD 70) with accessories sell for an average of VND 100,000 (USD 4) per item yet customers, particularly young people, are thrilled they are here.
Customer Tran Thi Anh Nhung of District 3 spent almost VND 5 million (USD 230) on nine items at Zara after discounts last weekend, saying she was delighted she no longer had to go Singapore or Bangkok for the latest styles.
Nhung, a senior marketing executive for a foreign-owned advertising agency in District 1, said: “Zara and Topshop offer ready-to-wear products in the trendiest styles at reasonable prices. A mini-dress sells for VND 500,000 (USD 22) compared to a Vietnamese one at VND 300,000 (USD 15). Customers aged 18 to 30, who change their clothes every season, are interested in that kind of stores.”
Another customer, Vu Chi Hung, 32, said she was a fan of Topshop because their merchandises are both stylish and practical and can be purchased for around USD 22 a piece.
“The foreign brands located in shopping centers like Diamond, Vincom and Takashimaya guarantee their services and quality are the best for customers,” he added.
Ho Tran Da Thao, brand name creative director of the Tsafari Fashion Company, said: "The appearance of international fashion houses in Vietnam and so-called ‘fast fashion’ or ’casual wear’ brand names is sure to create fierce competition in the country’s fashion industry."
“Vietnamese brands should try to capitalize on the shopping seasons and spend more money on advertising to grab the attention of consumers,” she added.
Source: VNA