Japanese fashion brand Uniqlo has announced plans to open two more stores in Hanoi, taking its total number in Vietnam to six.
Japanese apparel retailer Uniqlo will open its second store in Ho Chi Minh City at SC VivoCity shopping mall in District 7 on May 15, indicating its continued interest in this market.
Vietnam is a strong candidate among the alternative investment destinations as Japanese enterprises are moving away from China due to the COVID-19 pandemic, according to Hirai Shinji, Chief Representative of the Japan Trade Promotion Organisation (JETRO) in Ho Chi Minh City
Vietnamese large fashion houses may suffer more heavily than small ones if COVID-19 lasts more than six months.
VOV.VN - Japanese brand UNIQLO officially launched its second flagship store in the nation on March 6, with the new site covering an approximate area of 2,500m2 at Vincom Pham Ngoc Thach street in Dong Da district, Hanoi.
Local suppliers of overseas fashion brands may have a bumpy road ahead as materials from China have been blocked due to COVID-19.
Vietnam, with its young demographic, growing incomes and large population, is considered a hugely promising market for retailers.
Many retailers from Japan, including Miki House, Akuruhi and Uniqlo, are rushing to do business or open new stores in Vietnam due to the popularity of Japanese goods among Vietnamese consumers.
Services and retail are forecast to attract a large amount of Japanese direct investment into Vietnam this year.
With the opening of Japanese fashion giant Uniqlo in HCM City, locals now have another shopping option for affordable clothing, but the new store could also pose a threat to the local fashion industry.
Chairman of the People’s Committee of Hanoi Nguyen Duc Chung pledged to create the best possible conditions for Japan’s Uniqlo company to do business in the city, during a reception on February 20 for Uniqlo Vice President Koyama Noriaki.
A number of famous international fast fashion brands have arrived in the promising Vietnamese market.
The additional supply drives up Hanoi's retail space to roughly 1.2 million square meters in the fourth quarter 2019.
Japanese global apparel retailer UNIQLO on January 7 announced the location of its first store in Hanoi, set to open in spring this year.
With the opening of the first Uniqlo store in Vietnam, HCM City has added another fashion giant to its growing list of popular brands.
Japanese fashion retailer Uniqlo announced on December 25 it will open the first Hanoi store in the Spring of 2020, months after its country debut in Saigon.
VOV.VN - Uniqlo, a global apparel retailer from Japan, opened its first store in Vietnam on Dong Khoi street, a high-end shopping street in Ho Chi Minh City’s District 1 on December 6, with hundreds of fashion lovers turning out to mark the launch of the store.
Zara’s revenue reached VND1.7 trillion in 2018, six times higher than 2016 thanks to the Vietnamese people’s preference for fast fashion styles.
Swedish fashion brand Hennes & Mauritz (H&M) opened its first store in Da Nang and eighth in the country on November 28.
High land lease prices, local preference on exported clothing, and the custom of shopping at local stores may not favour Japanese-based UNIQLO’s plan to make waves in Vietnam.