Zara and H&M to discount all items at Hanoi debut
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.
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These stores will showcase the latest menswear, women’s clothing, footwear, undergarment, and accessories product lines, as well as products for kids.
Zara has spent several months preparing for the opening of its store in Hanoi's Vincom Center Ba Trieu, including employee recruitment and site selection. By now, all preparation work has been completed.
Zara came to Vietnam last September with the first store at Vincom Dong Khoi, Ho Chi Minh City, covering 2,400 square metres. The store reportedly achieved sales of VND5.5 billion ($246,000) on its first day.
Vietnam promises great opportunities for Zara as the majority of the population is in the young-to middle-aged bracket. The rapid urbanisation and globalisation in Vietnam has seen the number of consumers who care about international high-street fashion increase dramatically.
Zara made the decision to enter the market because of the potential brought by more and more young Vietnamese pursuing fashion that is not readily available in the country.
Established in Spain in 1975, Zara now has 2,213 stores strategically located in leading cities across 93 countries. The brand is popular thanks to its diversified products and reasonable prices.
Currently, Zara Vietnam is in the top 5 of Zara’s highest revenue stores across the world. This is seen as strong motivation for other fashion brands, such as Uniqlo and Forever21, to approach the Vietnamese fashion market.
Regarding H&M, situated in Vincom Mega Mall Royal City in Hanoi, its second store in Vietnam is planned to target the same market segment of affordable fashion as the first one in Ho Chi Minh City.
The brand’s spokesperson shared that H&M is searching for new locations for store openings, without disclosing any further leads on the business plan. To boot, the brand promises to launch new designs at reasonable prices, which is likely a business strategy to compete with Zara’s store.
Fredrik Famm, H&M’s country manager for Southeast Asia, said that the fashion brand was off for a great start at the debut in Ho Chi Minh City and is counting down to the opening in the capital.
Fredrik also noted that H&M planned to deliver unique shopping experiences to fashionistas in Hanoi as well as customers supporting the brand by purchasing H&M products from overseas.
H&M’s first store was opened in on September 9, 2017, situated in Vincom Dong Khoi, District 1, Ho Chi Minh City, a two-storey 2,200-sq.m flagship.
According to the brand’s representative, the debut witnessed a record number of 4,000 customers queuing up for the opening and a total of 10,000 customers visiting on the opening day.
With two stores in the two metropolitan cities, Vietnam is H&M’s sixty-eighth market and the fourth in the Southeast Asia.
