Tag: Saigon Center

  • Chanel Vietnam opens first cosmetics boutique

    Chanel Vietnam opens first cosmetics boutique

    Chanel Vietnam has opened its first dedicated cosmetics and perfume boutique.

    The 133 sqm store is located on the ground floor of the Saigon Center shopping mall in the heart of Ho Chi Minh City. It is decorated with a three-color theme of black, beige, and burgundy.

    The store showcases Chanel’s latest collections of makeup, skincare, and perfumes – with special emphasis on the “Les Exclusifs de Chanel” perfume collection with 16 scents.

    Customers will also enjoy a special skincare service called Sublimage from Chanel beauty team.

  • Mujosh eyewear to open in Vietnam

    Mujosh eyewear to open in Vietnam

    Hong Kong-headquartered Mujosh eyewear is about to open its first store in Vietnam.

    The edgy brand, which made its international debut in Malaysia just last year, will open a store inside Saigon Center in Ho Chi Minh City. The mall houses the Takashimaya department store along with the first Japanese-headquartered Owndays shop in Vietnam.

    The store is undergoing fitout with a billboard promising an opening in “mid-March”.

    Established in 2010, Mujosh describes itself as “an innovative fashion eyewear brand” which combines unique elements and styles into frame designs.

    “Appreciating creative ideas, valuing the value of handicraft, cherishing the original touch of materials, Mujosh is deeply loved by fashion icons and wearers.”

    The brand also has stores in Singapore (on Haji Lane), Thailand and Australia. It plans to open 1000 stores globally within five years.

    Owned by Photosynthesis Group Co, Mujosh is the company’s first brand to go international since it started its international business expansion at the beginning of 2015.

    Edmonton marks Canadian debut

    Meanwhile, Mujosh opened its first store in Canada, a flagship in West Edmonton Mall, the largest shopping centre in North America. The mall hosts about 32 million visitors per year; between 90,000 and 200,000 daily.

    Among early customers was one who said she had become familiar with the brand while travelling in Shanghai and Singapore.

  • Vietnam retail rents rise as flurry of global brands arrive

    Vietnam retail rents rise as flurry of global brands arrive

    Prime Vietnam retail rents are rising as a flurry of international retail brands move into Ho Chi Minh City.

    The third quarter of 2016 saw major changes of supply market in HCMC, according to a research report by Colliers International.

    In recent months, more than 100,000 sqm of retail space has been added in the city with the opening of the revamped Saigon Center anchored by Japanese department store Takashimaya and a new Aeon Mall opening in Binh Tan.

    But average retail rental rates have slightly increased to US$126/sqm/month in the CBD and US$36/sqm/month in the suburbs.

    Saigon Centre has been completed and occupied by 400 local and foreign brands, including concessions in Takashimaya. Aeon’s Binh Tan mall is the company’s second in Ho Chi Minh City, home to a large supermarket, restaurants, fashion shops, cinemas and a variety of retail stores.

    Geert Jan ten Hoonte, retail advisor of Kusto Management Vietnam, said these two malls will bring an extra level into the market. “It will force other operators to rethink their offer to the consumers. It would be a good development if shopping centre developers start to think in location, functionality and market positioning for the malls they are planning,” he said.

    Foreign brands

    Vietnam’s retail industry’s latest quarter started with the departure of well-known F&B brand NYDC. The exit of the Singaporean dessert and coffee chain partly confirmed the struggle of international F&B brands face competing with domestic players.

    Q3 also saw the debuts of many international fashion brands. The first, and largest, was Spanish fast-fashion brand Zara, which has taken up 2400 sqm of Vincom Dong Khoi with its first flagship store in Vietnam. The opening day brought Zara more than VND5 billion sales, reportedly the highest first-day sales of any new Zara store opening worldwide.

    Saigon Center and Takashimaya has enticed many international brands to HCMC such as Dsquared2, Fred Perry, and Ted Baker.

    Other significant retailers to launch in the city during the quarter included faux Japanese, Chinese-headquartered retail chain Miniso, Naughty Cat and Innisfree.

    With its fast-growing young population and emerging middle class, Vietnam’s retail market is expected to mature into a more convenient, modern retail environment in coming years. Vietnam’s admission to the WTO and the upcoming TPP trade agreement will draw a significant amount of FDI from international retailers in the future.

    Online shopping

    Meanwhile, online shopping is growing rapidly, with the Vietnam eCommerce and Information Technology Agency (VECITA) forecasting some 30 per cent of the population will be buying goods online by 2020, spending US$10 billion a year.

    In 2015, online sales were $4.07 billion, and growing at 37 per cent on the previous year.

    Despite being comparatively small by Asian standards, Vietnam’s eCommerce market is growing exponentially with more than 54 per cent of the population now connected online.

    The government plans to boost eCommerce with a goal of 50 per cent of local enterprises setting up online stores and 80 per cent doing business through eCommerce platforms.

    -Yen Hai Nguyen

  • Carolina Herrera Vietnam flagship opens

    Carolina Herrera Vietnam flagship opens

    Carolina Herrera has opened a flagship store at Saigon Centre shopping mall.

    The first Carolina Herrera Vietnam store, it is located on Level 1, facing Le Loi St – one of the most visible spots in the city’s centre.

    Carolina Herrera Vietnam 1

    At the grand opening, CH introduced its latest Fall-Winter collection to customers, with the demonstration of models and Vietnamese Beauty Pageants.

    Founded in 1981 in New York by the “Fashion’s First Lady”Carolina Herrera, CH currently has 129 freestanding stores and more than 220 shops-in-shops in Europe, Asia, Africa, Middle East and America.

    Carolina Herrera Vietnam 2

     

    Carolina Herrera represents elegant lifestyles for men and women through fashion, fragrance, and bridal collections.

    The brand comes to Vietnam under the management of Maison, a local Vietnam fashion distributor which represents 21 international brands including Christian Louboutin, Jimmy Choo, Mango, and Topshop.

  • Dorothy Perkins Vietnam launches third store

    Dorothy Perkins Vietnam launches third store

    The UK fashion brand Dorothy Perkin has opened its third store in Vietnam after just one year in the country.

    The new Dorothy Perkins Vietnam store is located on level 11 of the Saigon Center, Ho Chi Minh City’s newest downtown shopping mall.

    At the opening, Dorothy Perkins presented its latest Fall Winter 2016 collection featuring velvet as the main material. The collection brings a romantic spirit and dynamic sporty trend to the store.

    Customers shopping at the store on the first week received gifts and giveaways from the brand.

    Dorothy Perkins VN

    Debuting in 1919 in the UK, Dorothy Perkins has 600 stores in the UK and more than 120 outlets worldwide.

    Before the brand’s first outlet at District 7 Vivo City opening last year, Vietnamese customers could only buy its items from online store dorothyperkins.com and the eCommerce site Zalora.vn.

    Dorothy Perkins Vietnam 1

    After just one year, it has been among the most popular international brands recognised by Vietnamese office women in the 25 to 35 age group.

    Dorothy Perkins comes to Vietnam via distributor Maison, which opened the first Dsquared2 store at Saigon Center last month.

  • Dsquared2 Vietnam makes debut

    Dsquared2 Vietnam makes debut

    Canadian fashion brand Dsquared2 has opened its first Vietnam boutique at the newly-revamped Saigon Center.

    Dsquared2 Vietnam is located at unit 11-12 on level 1 with the front spreading out over 18 meters onto Le Loi Street – one of main thoroughfares of the city center.

    The store’s interior is decorated with marble stones, ash gray and brown silk wool carpets. For the Vietnam store, Dsquared2 introduces its collections including Italian classics for men and a capsule line of cocktail and evening gowns for women. Also available in the store are underwear and accessories.

    Dsquared2 Vietnam 1

    Dsquared2 was founded by Canadian twins Dean and Dan Caten, who are its creative directors. The two worked together on the interior design of the Vietnam store in order to maintain the brand’s DNA.

    Dsquared2 Vietnam 2

    Dsquared2 Vietnam is the third Southeast Asian store after Singapore and Hong Kong. Talking about the opening of the store, Dean and Dan said, “We are proud to have a retail presence here, in a market where consumers that care about international fashion are constantly increasing and we believe this store represents a new chapter and an energetic retail future in Asia for our brand!”

    The brand was brought into Vietnam through Maison, a fashion distributor launched in 2012 and home to more than 17 international brands including Coach, Dorothy Perkins, Karen Miller, Mango and Topshop.

    dsquared2-vietnam

  • Ted Baker Vietnam makes debut

    Ted Baker Vietnam makes debut

    Unconventional British fashion brand Ted Baker has opened its first store in Vietnam.

    Ted Baker Vietnam joins other luxury brands at the revamped Saigon Center in Ho Chi Minh City, with its re-opening celebrated at an event featuring Vietnamese entertainers. Guests included representatives from the UK Consulate General.

    Brought to Vietnam by retail management company Maison, Ted Baker was described at the event by British Business Group Vietnam (BBGV) director Peter Rimmer as “the most outstanding luxury fashion brand in the UK” and an inspiration for people seeking an individual style.

    Ted Baker introduced its latest collection with a mini-catwalk show at the event. Many of the guests were also wearing the label.

    Established in 1988 with a focus on menswear, the London brand has also produced collections for women seeking to blend traditional and contemporary styles.

    Maison, launched in 2012, has brought more than 17 international brands to Vietnam including Coach, Dorothy Perkins, Karen Miller, Mango and Topshop.

  • Takashimaya Vietnam opens doors

    Takashimaya Vietnam opens doors

    Three years after the Japanese luxury department store chain announced plans to enter Saigon, Takashimaya Vietnam opened its doors at the weekend.

    As the anchor tenant of  downtown Ho Chi Minh City’s Saigon Center, Takashimaya takes up a whole five floors making it by far the nation’s largest department store – and likely its most expensive.

    The first impression that the department store makes is its spacious interior. Concessions to brands have been arranged to leave unusually wide aisles – ensuring the store was comfortable even on its crowded grand opening day.

    Takashimaya Vietnam - interior

     The central atrium of the expanded Saigon Center featuring Takashimaya’s first Vietnam store.

    The first floor of Takashimaya houses the food maison, most of which is filled by Japanese F&B brands such as Minamoto Kitchoan, Gyumaru, Azabu Sabo, Yamazaki and Suizan. Some tea brands make their way into that space, including Vietnam’s own Phuc Long, Singapore’s TWG tea, and B Tea.

    Targeting the high class consumers in Saigon and Vietnam, Takashimaya has chosen carefully the brands to appear in their stores, including luxury brands coming to Vietnam the first time, complemented by the high level of customer service Takashimaya offers elsewhere in the world.

    Takashimaya Vietnam

    The second floor is exclusively for ladies with international fashion names such as Banana Republic, Bebe, Bonia, Braun Buffel; footwear from Clarks, Geox, Cole Haan; bags from Carlo Rino, Cromia; and Furla with its first flagship in Vietnam after years being distributed by Ha Vang company.

    The rest space is occupied by cosmetics brands, including Korean labels Skinfood, which marked the store’s opening with a special event ‘Makeup Style for Your Summer’.

    Takashimaya Vietnam - Skinfood

    “We offer free makeup and manicure for our customers for two days. Besides, when they buy our products, they will receive a gift set,” said Kieu Oanh, senior PR & marketing executive of Skinfood Vietnam.

    For women, the excitement continues on the next level of Takashimaya: a heaven of luxury cosmetics, jewelleries and fragrances. Christian Dior is prominently located at the front, with rival Lancome opposite. Lancome also opened its own ‘Lancome Cafe’ – a style boutique, where women can take free makeup lessons and receive gifts for the best ‘artwork’.

    Takashimaya Vietnam - Lancome

    Other brands include Bobbi Brown, Shiseido, Estee Lauder, Swarovski, and Mac.

    Takashimaya Vietnam - Yves Rocher

    The next floor features international fashion and cosmetics brands including Diane von Furstenberg, Hugo, Versace and Paul & Shark, along with restaurants and cafes. This level has a rest space with some chairs for visitors arranged around a huge grey pillar.

    Takashimaya Vietnam - Diane von Furstenberg

    Local luxury multibrand retailer Runway comes back after closing its store in Vincom Center in March. As usual, it has a large space in the center, gathering all women’s favourite brands with modern and elegant designs.

    Takashimaya Vietnam - Runway

     The new Runway store replaces the local multi-label luxury brand’s previous space at Vincom. 

    Another highlight is the ready-to-launch space of women handbags Kate Spade New York. That outlet is expected to open soon.

    Takashimaya Vietnam - Kate Spade

    Coming soon: Kate Spade.

    The last level of Takashimaya is filled with men’s fashion and casual wear and children’s clothing and toys. Tommy Hilfiger has the largest outlet here, opposite the first authentic Fred Perry store.

     

    With more than 180 years of experience and US$290 million investment, it is expected that Takashimaya will not only take Vietnamese shopping to a higher level but also mark a turning point for economic development and quality retail in Vietnam.

  • Official debut for Fred Perry Vietnam

    Official debut for Fred Perry Vietnam

    Tennis-inspired clothing brand Fred Perry is to open its first official store in Vietnam this month.

    The subcultural fashion line announced last week on its Fred Perry Vietnam Facebook page that the new store will be located on Level 3 of the refurbished and expanded Saigon Center in District 1. The centre, which includes Japanese department store Takashimaya, will open on July 30 and fitout of the Fred Perry store is expected to be completed in time.

    fred perry vietnam

    Alongside the success of crossing from sportswear to streetwear fashion, the brand has a subcultural music appeal internationally. To celebrate the official opening of the first Fred Perry Vietnam shop, a live party will be held on Friday, August 5 at Piu Piu Bar.

    Fred Perry is a clothing line founded by the Wimbledon champion Fred Perry in 1952, and become popular internationally since. The brand is now owned by Japan-based company Hit Union.

    In Vietnam, the brand is famous for its shoes and classic polo shirts. The official arrival of Fred Perry in Vietnam will come as great news for Vietnamese fans. For years, they have shopped “laurel wreath” products online and through hand-carried importation services – always with a high chance of ending up with fake merchandise.

  • Saigon retail market to be put to the test

    Saigon retail market to be put to the test

    Is there too much retail space in Saigon – downtown Ho Chi Minh City – the commercial hub of Vietnam?

    With more than 1.1 million sqm of retail space, it looks like the Saigon retail market is oversupplied. The closing of Parkson Paragon in the city’s District 7  last month only amplified such concerns.

    But Cushman & Wakefield Vietnam GM Alex Crane begs to differ. He says demand is there if the retail formats are built to meet the market.

    He believes with the population of 10 million, the city is far from overloaded with retailers. The main problem lies in the wrong location or design – and incorrect retail segments.

    “I think the real test will show in the opening of shopping malls in the city center. Let’s just wait,” Crane said.

    The malls he may well be referring to are the upmarket Japanese department store Takashimaya-anchored Saigon Center 2 under completion now in District 1 and The One opposite Ben Thanh market when will be connected to the underground rail network currently at easing stage prior to construction.

    When these malls are operating, it will be easier to evaluate the real positioning of the retailers and the real demand of the market, says Crane, who is optimistic that it is not about the balance of population and retail space, but the practical demand.

    To Sigrid Zialcita, MD of Research Department, the key for shopping malls is to have suitable retailers (for market demand) and logical space designs – as well as market-savvy managers.

    “Joining WTO and TPP is turning Vietnam into a rising star in the retail market,” added Zialcita.

    HCMC’s demand for F&B, household supplies and fast moving consumer goods remains high based on the young population. But retailers entering the market need to conduct careful research to ensure their positioning strategies meet the market.

    While the retail market requires constant change and adjustment to customer demands, globally there is a continuing trend towards ‘one stop shopping’. Vietnamese are increasingly looking to go to places where they can eat, entertain and shop in a modern, air conditioned mall.

    According to data from AT Kearney, Vietnam has been one of the top 30 rising retail markets for foreign investors since 2008. Retail and consumer merchandising revenue has increased considerably between 2011 and 2015.