Boom of fast fashion trend lately in the country has offered challenges and opportunities for local textile and garment firms.
Vietnamese apparel manufacturers need to embrace new technologies to meet the growing global fast fashion trends, according to the Vietnam Textile and Garment Association (VITAS).
Vietnamese fashion and garment companies have usually focused on outsourcing and have ignored branding. But the business strategy will no longer fit the new circumstances as more and more foreign brands have landed in Vietnam.
The competitive pressure exerted on domestic fashion firms by the increasing presence of world renowned brands is unavoidable, but it could have positive impacts in the long run, experts say.
VOV.VN -Following the success of its flagship store in Ho Chi Minh City, Zara, the world’s leading fashion company, opened their second store at Vincom Center Ba Trieu in Hanoi on November 9.
On November 8, on the first day of opening in Hanoi, both Zara and H&M will offer customers to join a complementary discount for all items at their stores in the capital.
An increasingly wealthy population has global designer brands looking to stitch up the market.
VOV.VN - H&M, the world’s leading fashion company, is making preparations for the opening of its second store in the Vietnamese market on November 11.
The fourth Vietnam Junior Fashion Week 2017 (VJFW 2017) will be held in HCM City from October 13 to 15.
The opening of a number of foreign fast fashion brands in Vietnam have lowered the already small market share held by Vietnamese brands.
Undeniably, fast fashion brands are enjoying great success in one of the two largest cities in Vietnam. However, while they are toasting success, local retailers are stepping back in the game.
The time of fast fashion in Vietnam has finally arrived, according to the latest report released by consulting firm Savills.
Vietnamese businesses believe there will still be enough customers for Vietnamese products, despite growing competition from foreign fashion stores.
Shopping malls in Ho Chi Minh City draw attention of young people as the sales season kicks off; most of them are white-collar workers who are interested in internationally famous brand names like Zara.
The images of fans standing up in long queues in front of fashion shops waiting for their turn to buy goods show the great potential of the Vietnamese market.
The influx of foreign fast fashion brands into Vietnam is threatening local retailers’ market share, forcing the firms to move to keep their foothold in the market, Dau tu (Vietnam Investment Review) newspaper reported.
VOV.VN - The flagship branch of Inditex group, Zara has announced it will make its retail debut in Hanoi with the opening of a store at Vincom Center Ba Trieu in Hanoi in October, reports VN Economy.
French retailer Decathlon just announced that it is waiting for the approval from the Ho Chi Minh City People’s Committee to set up a 5,000-square metre supermarket at Rach Chiec National Sport Complex in District 2.
Though only around 10 Vietnamese footwear brands exist in the home market and each holds a modest 2% of market share, the products have begun conquering the local consumer market.
More and more affordable international fashion brands enter Vietnam, heating up competition and bringing more choices for Vietnamese customers.