In recent years, Vietnamese people have been more inclined towards buying products that are from luxury brands. Most of the time, purchases are extravagant and are often motivated by an emotional need rather than a genuine need. Successful luxury brands entice buyers in Vietnam through emotional experiences and resonate with target audiences. Here are 10 luxury fashion brands that come to dominate the fashion village in Vietnam today, let’s find out!
1. Louis Vuitton
Louis Vuitton is one of the most famous fashion brands in the world founded in France, famous for its leather goods line founded in 1854. Louis Vuitton brand is named after the designer and also is the founder of the company.
Louis Vuitton products are most famous for their classic Monogram Canvas, Damier motifs, and their signature brown color. First released in 1986, they immediately rocked the fashion village of the world in general and of Vietnam in particular, and that craze continues to this day.
In addition to famous leather products, the famous fashion brand Louis Vuitton also produces a variety of other luxury items such as clothing, shoes, accessories, jewelry, watches, and sunglasses.
In 2020, Louis Vuitton was honored among the top 3 fastest growing brands in the world. After a year of hiatus, LV was finally able to achieve 21% growth with a brand value of US$20 billion in 2022. In Vietnam, Louis Vuitton currently has two stores in Hanoi and Ho Chi Minh City.
2. ZARA
Zara’s shops in Vietnam are under the management of Inditex’s partner in Indonesia – Mitra Adiperkasa (MAP).
Zara’s products include fashion and accessories for children, men, and women with a variety of designs, beautifully designed, in line with Vietnamese consumer trends. Each year, Zara releases about 12,000 new designs. Generating revenue of over US$40 million from the two Zara stores in Hanoi and Ho Chi Minh City, Vietnam has become the second largest market of Mitra, only behind its base in Indonesia.
3. H&M
Founded in 1947 in Stockholm, Sweden. H&M is a fashion retailer known for its low-cost fashion products for all ages, all genders, and teenagers to children. Therefore, it is the brand at the top of the Vietnamese mind.
H&M currently has 9 stores in Vietnam in Hanoi, which are situated in Da Nang, and Ho Chi Minh City. In 2020, H&M generated 54.3 million U.S. dollars in revenue in Vietnam, indicating a significant increase from 2017.
4. Hermès
Another legendary fashion brand in the famous French fashion houses and from the fashion capital of Paris. Hermès was founded by Thierry Hermes in 1937, specializing in the manufacture, distribution, and retail of luxury leather goods, clothing, perfumes, and fashion accessories.
With 16 diverse and rich categories, Hermès always ensures all of its products are the most beautiful and best things for Vietnamese customers. The most prominent in the Hermes product list is the world’s most expensive Birkin handbag with prices ranging from $10,000 to $150,000, while the Hermès Himalayan Crocodile Birkin handbag can cost up to $400,000.
There are 6 stores in Vietnam:
- Ha Noi:
- HERMÈS Ha Noi
- HERMÈS LOTTE (Fragrances & Make-up)
- Ho Chi Minh City:
- HERMÈS Ho Chi Minh City
- HERMÈS TAKASHIMAYA (Fragrances & Make-up)
- HERMÈS DIAMOND PLAZA (Fragrances & Make-up)
- HERMÈS CRESCENT MALL (Fragrances & Make-up)
According to the latest announcement from Hermès, the brand’s 2022 revenue increased 29% to 11.6 billion euros, with a net profit of 3.4 billion euros.
5. GUCCI
Gucci with its full name The House of Gucci is the symbol of the Italian fashion village and founded in 1921.
Gucci has become a famous fashion brand in Vietnam with fashion and cosmetic product lines: bags, shoes, fashion accessories, home decoration, perfume, and makeup. Gucci owns 2 stores in Ha Noi and Ho Chi Minh City.
With a brand value increase of more than 20% in the past 12 months, the leading Italian fashion house – Gucci has excellently taken second place in the ranking of the highest luxury brand value in 2020 with US$17.63 billion.
6. CHANEL
One of the world-famous foreign fashion brands in Vietnam from the fashion capital of Paris, Chanel was founded by Coco Chanel in the years 1909-1910, known as a worthy high-end fashion brand. proudest of the French fashion industry. Chanel blew a new breath into the world fashion village when it brought all the quintessence and beauty of the classic fashion industry of the previous era.
Vietnamese consumers enjoy the Chanel brand due to its line of high-end hand-made garments, fragrances, jewelry, and fashion accessories. There is a total of 3 stores in Vietnam ( two stores in Ho Chi Minh City and one store in Ha Noi).
Chanel’s brand value in 2020 reached $ 13.7 billion with an impressive increase of 19.4%, helping Chanel to win fifth place in the recent brand value rankings.
7. BURBERRY
Burberry was founded in 1856 in Basingstoke, England by Thomas Burberry.
Burberry is one of the famous modern, elegant fashion houses specializing in the production, distribution, retail of clothing, fashion accessories, cosmetics, perfumes, and sunglasses. Fashion products with characteristic square stripes have made Burberry one of the top brands favored by young people in Vietnam.
Vietnamese people can come to the following stores to buy luxury clothes:
- Ho Chi Minh City:
- Rex Hotel
- Opera View
- Diamond Plaza
- Ha Noi:
- Opera Business Center
In 2020, Burberry continues to maintain the 15th position in the ranking of premium brand values.
8. Prada
Prada is a famous Italian fashion brand with high-end product lines such as shoes, bags, garments, and fashion accessories for both men and women.
Instead of following the trend, Prada focuses on creating products with unique, sophisticated designs and creating their own trends for the brand. It is the feature that attracts Vietnamese buyers. There is only one store in Vietnam, specifically in Ha Noi.
9. Christian Dior
The French luxury fashion house Dior opened its first store in Vietnam on Thursday, 28th March.
Fashion products, cosmetics, perfumes … of this luxury brand every time that is launched, attract a huge amount of Vietnamese people’s attention. The majority of customers that the company targets are mainly women. In recent years, Dior has gradually expanded the market to both men and children. Christian Dior group recorded revenue of US$ 84.5 billion in 2022 and profit from recurring operations of US$22.14 billion, both up 23%.
Vietnamese consumers can visit 2 stores in Ha Noi and Ho Chi Minh City.
10. CARTIER
Cartier is a French luxury goods conglomerate that designs, manufactures, distributes, and sells jewelry, leather goods, and watches.
Cartier has always invested meticulously in both quality and design. This is also the factor that makes Cartier products always highly appreciated by customers in Vietnam. Love bracelets from Cartier are considered a symbol of peace, becoming the language representing love and stopping war all over the world – “make love not war”. With a meaningful message and trending image, this branded item is causing sobbing for the young generation in Vietnam.
There are two Cartier stores in Ha Noi and Ho Chi Minh City.
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