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Vietnam’s local brand struggle due to entry of global brands

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vietnams-local-brandVietnam’s homegrown fashion brands are struggling while international brands are receiving a hearty welcome from customers. Zara, the Spanish fast fashion brand, opened its first store in Vietnam in September 2016 and received a tumultuous response. Many other moderate and budget fashion brands such as Mango, GAP, and Topshop are also in Vietnam and are opening new stores on a regular basis.

In contrast, many stores of domestic designers are struggling to attract and retain customers despite affordable prices and regular promotions. There is a clear segmentation of consumer fashion in Vietnam as younger generation of Vietnamese with an interest in fashion and a good income are more inclined to opt for international brands. Japanese casual wear designer, manufacturer and retailer Uniqlo is also looking for a local franchisee to enter the Vietnamese market in the near future.

With apparel products targeting all ranges of customers, men, women, teenagers and children alike, gathering at one single retailing area spanning thousands of square meters, such brands introduce between 5000 and 10,000 new designs every year on an average so they appeal to a very wide base of customers.

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