International fashion brands mark Vietnam

More and more international fashion brands have arrived in Vietnam along with the many high grade fashion centres in big cities.

In late April 2010, Vincom trade centre, located at the corner of Dong Khoi and Le Thanh Ton streets in central HCM City, made its debut. The trade centre has gathered a series of famous fashion names here, from Versace, Emporio Armani, D’Blance and Polo to John Henry, Giovanni, San Sciaro, Valentino Creations, Carven Paris and Pierre Cardin.

Prior to that, Parkson Flemington became operational on Le Dai Hanh Street, attracting a lot of famous brands of cosmetics, perfumes and clothiers.

At the same time, Kumho Asiana Plaza in HCM City opened with Debenhams fashion centre, Aldo and Converse shoes, Tissot watches, Playboy and Levi’s clothes, and many other brand names like Elle, Paris Hilton, Aubade and Carita.

According to Thoi bao Kinh te Saigon, every shopping mall is fully occupied with international fashion brand names. According to CB Richard Ellis CBRE, the distributor for Vincom Centre Shopping Mall, more than 90 percent of the total 58,000 square metre of the shopping is occupied by long-term renters.

More and more international fashion brands will arrive in Vietnam in the time to come, as more shopping malls in central HCM City open this year. The 68-story Bitexco Financial Tower BFT, scheduled to become operational in October 2010, will have six floors reserved for a shopping mall of 8000 square metres. HCM City will also have a new shopping mall on Dong Khoi street – the Eden Trading Centre.

Meanwhile, IPP Group, which once brought many brands to Vietnam, including Chanel, Lancome, Burberry, Salvatore Ferragamo, Bally, Coach, Tumi and Tag Heuer, has decided to cooperate with Saigon Tourist to upgrade the ground floor of Rex Hotel into a shopping centre of international brand names to be completed in the third quarter of 2010.

According to Tham Tuck Choy, General Director of Parkson Vietnam, business has been very successful over the last five years and the retailer has set up six big shopping centres in HCM City, Hanoi and Hai Phong.

Choy revealed that Parkson has an average growth rate of over 30 percent in Vietnam (over 40 percent in Hanoi, 50 percent in Hai Phong and 20 percent in HCM City). With such impressive business results, Parkson plans to set up many other malls in Vietnam’s big cities.

Thoi bao Kinh te Saigon

Tags: Vietnam fashion market, Vietnam retail market