The Vietnamese market consists of about 200 international fashion brands, occupying more than 60% market share. The remaining 40% belong to the internal brands
The fast growing economy
According to Fredrik Famm, the Regional Manager of H&M in Asia, Vietnam is a very potential market for fashion as the young population grows fast. But more importantly, this is the market is determined to have good fashion standards, young people are very interested in and love fashion.
"I find Vietnamese youth is more interested in fashion than many countries in the region. Although I have researched the market and been aware of the Vietnamese fashion market for many years, I am still astonished by actual potential of the fashion market in this country. People here have a very demanding taste as well as the passion for fashion. Personally saying, I know we were right when deciding to invest in Vietnam, "said Fredrik Famm.
Zara has announced their sales revenue of more than $ 5.5 billion on their opening day, breaking the sales records across all of the 2,000 global selling points in 88 countries.
Ready to go global
The ability to catch up with the latest trends in fashion of people here has made Vietnam become the most potential market for the industry in Asia. Although it is not as developed as Korea or Singapore, Vietnam still has an extremely huge potential for growth. The way the people get updated on the new trends illustrates the significant capability of the country to go global.