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Tag: Vietnam

  • Vietjet Announces New Routes and IncreasesFlight Frequencies to Phu Quoc

    Vietjet Announces New Routes and IncreasesFlight Frequencies to Phu Quoc

    Vietjet has announced its plans to launch new routes and increase flight frequencies to and from Phu Quoc, one of Vietnam’s top beach destinations.

    The announcement was made on 29 July 2019 at the Kien Giang Investment Promotion Conference, titled “Kien Giang – Potential and opportunities for investments and sustainable development.” More than 500 industry and organizational leaders, investors and leading private enterprises attended the conference; Vietnamese Prime Minister Nguyen Xuan Phuc and senior leaders of the Vietnamese Government were also present at the event.

    Vietjet detailed its plans to operate two new domestic routes: Phu Quoc – Da Nang and Phu Quoc – Van Don. The new routes will operate at a frequency of seven flights per week from the end of this year and the middle of next year respectively. Two new international routes (air charters) were also announced: Phu Quoc – Chengdu (China) and Phu Quoc – Chongqing (China), with three round-trip flights per week starting from the end of 2019.

    The flight frequencies of two international routes Phu Quoc – Hong Kong (China) and Phu Quoc – Incheon (South Korea)will also be increased to six flights per week and fourteen flights per week respectively from the coming winter months to meet the increasing travel demands of Phu Quoc’s peak season.

    Since Vietjet’s first flight to Phu Quoc in 2012, its flight networks have continued to expand, connecting Phu Quoc to many other countries and cities in the region. Speaking at the conference, Prime Minister Nguyen Xuan Phuc expressed his support for investors and leading companies such as Vietjet in contributing to the economy of Kien Giang province.

    To celebrate the announcement of the new routes to Phu Quoc, Vietjet is offering 85,000 tickets from only S$0* for travelers to fly to Phu Quoc, the famous island of Kien Giang province. Promotional tickets are available for purchase from now until 31 July 2019 and are applicable for travel from 5 September 2019 to 31 December 2019 for domestic routes connecting Phu Quoc to Hanoi, Hai Phong and Ho Chi Minh City, and 5 September 2019 to 25 June 2020 for international routes connecting Phu Quoc to Hong Kong and Incheon.

     

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  • Tea chain Ten Ren Vietnam to close down

    Tea chain Ten Ren Vietnam to close down

    Ten Ren Vietnam will close all of its 23 stores on August 15, local franchise holder Vietnam Coffee Trading Service has announced.

    The company, whose main business is the fast-growing The Coffee House chain, said the current business model does not conform to the needs of the customer. It will close the chain and plan an “appropriate strategy” for the sector.

    The company wants to focus more on its Coffee House brand.

    All employees and partners of the Ten Ren chain will be offered the chance to transfer to The Coffee House.

    Ten Ren entered Vietnam in November 2017 initially planning 40 stores by the end of last year, but has fallen well short of that target. Its primary lines are milk tea and packaged teas.

    Given the brand is operated under a franchise it is likely the Taiwanese parent will seek a new operator for the market

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  • VIPshop buys Chinese outlet malls

    VIPshop buys Chinese outlet malls

    Discount e-commerce platform Vipshop has acquired a chain of Chinese outlet malls.

    The online business has paid RMB290 million (US$42 million) for Shan Shan, extending its offline footprint.

    The Tencent and JD-backed site has been making strong moves to trade offline since opening a store in Beijing last October, and has gone on to launch retail outlets in Guangzhou, Changsha, Shenyang, Tianjin, and Hefei. The new acquisition adds five outlet malls to VIPShop’s network in Taiyuan, Harbin, Zhengzhou, Nanchang, and Ningbo, with five more outlets in the works.

    “This represents another milestone in our efforts to explore online and offline integration in our core business,” said Vipshop founder Eric Shen. “Through this highly strategic transaction, we will gain presence in the offline outlet business in China, which further enhances our ecosystem and fortifies our leading position in China’s discount retail segment.”

    Vipshop’s first 2019 financial quarter saw it take in RMB21.3 billion (US$3.1 billion) in revenues, providing a net income of RMB872.3 million ($127 million).

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  • Vietnam budget airline VietJet to launch online business

    Vietnam budget airline VietJet to launch online business

    Vietnamese budget airline Vietjet is set to enter the e-commerce business. The firm is currently forging alliances with industry partners to enable it to offer a range of goods and services online as it seeks to build on and profit from its existing customer data. The new platform, which will be based on blockchain technology to facilitate transactions among partners, is expected to launch within the next two years.

    “Following our concept of ‘Consumer Airline’, we will have an e-commerce platform to serve not only air tickets but whatever they need,” said Vietjet’s VP Nguyen Thi Thuy Binh in Tokyo in an interview with the Nikkei Asian Review. “All the suppliers and partners will join our platform to serve the products to not only our 30 million passengers but also hundreds of millions of customers in Vietnam and other parts of the world.”

    The service will offer banking, insurance, hotel bookings and consumer goods, among other planned features. It will initially target passengers on the airline before expanding to the general public.

    Vietjet is expected to fly 30 million passengers this year, an increase of 30 per cent over last year’s total. While its revenues have been increasing over the period, rising fuel costs and intensifying competition have increased pressure on the firm’s core business. Vietjet has already formed a partnership with finance firm HD Saison Finance to allow customers to purchase air tickets ‘on loan’ in hope of attracting sales even from travellers who cannot immediately afford to buy.

    Vietjet currently flies 119 domestic and international routes, with a fleet of almost 80 aircraft.

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  • Vietnam franchise opportunities Booming

    Vietnam franchise opportunities Booming

    Fourteen international brands are seeking for Vietnam franchise partners.

    The brands will gather at VF Franchise Consulting headquarters in Ho Chi Minh City on July 9 to meet with prospective area or master franchisees for the market. The franchises are in the food-and-beverage sector, education, services, and come from the US, Taiwan, Thailand, Singapore, India and Japan.

    Of the 14 brands, 11 are in the retail space:

    * ACE International, a home-improvement franchise with more than 5200 stores in more than 60 countries.

    * Little Caesars Pizza, a takeaway pizza chain from the US.

    * Coldstone Creamery, a premium ice-cream chain from the US.

    * Mango Tree, a Thai casual-dining business from Thailand.

    * Mango Chili, a fast-casual Thai dining chain.

    * Cha Ji Tang, a Taiwanese fragrant hot-and-cold herbal/flower tea cafe.

    * Yang Xiang Ting, a Taiwanese dim sum conveyor-belt restaurant concept.

    * Fidele, an American-inspired seafood, and pizza chain.

    * Bing Girl, a Taiwanese sweet dessert cafe.

    * Machida Shoten, a Japanese ramen chain.

    * Mennya Kokoro, a popular Japanese dry-ramen chain.

    According to Vietnam’s Ministry of Industry and Trade, there are already more than 200 foreign brands registered in Vietnam, and the number of international brands seeking to enter Vietnam continues to grow by 15–20 percent annually.

    “With nearly 95 million citizens, Vietnam has one of the fastest growth rates when it comes to franchising and licensing,” says Sean T Ngo, founder, and CEO of VF Franchise Consulting.

    “Franchises that do well are in the food-and-beverage, education, retail, and services sectors. Goldman Sachs predicts Vietnam will be the 20th largest economy in the world by the year 2050.”

    The leading Thai company, Mango Tree, will be seeking its first franchisee for its Vietnam branch.

    “Mango Tree is one of the world’s most innovative and best-known Thai culinary lifestyle brands, serving contemporary Thai cuisine from authentic classics to modern updates to old favorites, complemented by creative mixology, expertly curated music, and buzzing locations,” said Trevor MacKenzie, Mango Tree’s MD. The company has already expanded into Hong Kong and Macau.

    Taiwanese bubble-milk tea chain Cha Ji Tang already has stores in Taiwan and Vietnam, and is in discussions over outlets in the Philippines, Korea, and Japan.

    “We are very excited about introducing our successful F&B franchises (Cha Ji Tang, Bingirl, Yan Xiang Ting, and Fidele) to Vietnam,” said Andy Hsu, owner of Reng Feng Brands, the parent company of Cha Ji Tang.

    “Taiwanese food and drinks are very popular in many countries, and we believe many Vietnamese will appreciate and enjoy authentic cuisine from Taiwan.”

    The minimum investment levels for the 14 franchise brands range from US$300,000 to $3 million.

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  • Vietjet Recognised as One of “Vietnam’s 50 Best Performing Companies in 2018”

    Vietjet Recognised as One of “Vietnam’s 50 Best Performing Companies in 2018”

    Vietjet was recognised as one of the leading companies in “Vietnam’s 50 Best Performing Companies 2018”. Held in Ho Chi Minh City on 27 June 2019, the award ceremony celebrated the leading companies listed on Vietnam’s stock market for their significant contribution to the economy.

    The annual event was conducted by Nhip Cau Dau Tu Magazine (Investment Bridge Magazine) in partnership with Thien Viet Securities, with expert economic and business consultants from Harvard Business School. The awards take reference from world ranking charts such as Bloomberg Businessweek, Fortune and Forbes to recognise and award listed companies for their performance and business results between 2016 and 2018. Success is based on Revenue Growth Rate, Return on Equity (ROE) and Earnings per Share (EPS).

    Vietjet’s SR-CAGR (Compounded Annual Growth Rate) and ROE were at 39.24 per cent and 59.7 per cent, respectively. Market capitalisation reached 2.68 billion USD, making Vietjet one of the largest capitalised enterprises on the Vietnam Stock Market. Since its listing, Vietjet has been recognized as a representative for successful Vietnamese enterprises.

    The top 50 companies this year have a total market capitalisation of 98 billion USD, with 17 companies exceeding 1 billion USD. Enterprises in the top 50 also generated a total of 1,200,000 billion VND (approximately 51 billion USD) and 127,000 billion VND (approximately 5.5 billion USD) in profits, an increase of 52 per cent and 47 per cent compared to the same period in previous years. In the context of an unsustainable global economy due to political reasons, the performance of Vietnamese enterprises in 2018 showed the potential for strong development and sustainability from leading Vietnamese companies.

    Hundreds of influential business leaders, financial institutions, macroeconomic executives, prestigious domestic and foreign investors attended the award ceremony and also participated in talks concerning the Macroeconomic forecasts for 2019 to 2020, amongst other international and local business topics.

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  • Aeon Vietnam to build another Hanoi mall

    Aeon Vietnam to build another Hanoi mall

    Aeon Vietnam will invest US$280 million for its third property in the capital city, Hanoi.

    The mall, in South Hanoi, is scheduled to open by the end of next year, according to Aeon executive director and general director of Aeon Mall Vietnam, Yasutsugu Iwamura.

    The Japanese retail giant plans to have 20 malls in Vietnam by 2025. It already has four trading,  in Ho Chi Minh City, Hanoi and the southern province of Binh Duong. Two others are under construction in Hanoi and the northern city of Hai Phong.

    The retailer hopes to have a strategic partnership with Vietnam retailers, increasing sales of agricultural products to Japan through its system.

    It plans to double imports from Vietnam to US$500 million next year, and double again to US$1 billion by 2025.

    Last year Aeon’s imports were worth US$245 million, with clothing accounting for 55 per cent of that figure.

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  • Vinomofo looks beyond massive bulk orders

    Vinomofo looks beyond massive bulk orders

    Vinomofo is thinking outside the box to give new customers a better first experience with the brand.

    The online wine retailer last week launched a ‘welcome kit’, including a three-pack of red, white or mixed wine, as well as a magazine filled with articles, advice and recipes that explain what Vinomofo is all about.

    The kit is like a physical manifestation of the welcome email that most online retailers send. But while digital versions typically include a discount for the next purchase, or a call-to-action to sign up for the loyalty program, Vinomofo’s welcome kit is all about introducing customers to the culture and ethos of the brand.

    “The idea came about during a session we had exploring how to deliver a more beautiful and complete welcome experience,” Justin Dry, Vinomofo co-founder and CEO said.

    “It was important to us that this was simple and elegant but clearly represented who we are and the why and how of what we do.”

    The company has made a name for itself by offering great wine at low prices, which it makes possible by buying large volumes from growers. Customers typically are required to buy six or 12 bottles of the same vintage to access the enticing per bottle discount that Vinomofo advertises.

    For some customers, however, this is a significant investment they may not be confident making online. For others, they simply don’t know the ins and outs of how Vinomofo works. The welcome kit, which costs $69 and up, aims to tackle both issues.

    “We know that once someone has tried Vinomofo, they’re very likely to stay, so if we can remove as many barriers as possible, it’s a good thing,” Dry said.

    “However it’s mostly about delivering a beautiful experience for our new mofos and introducing them to who we are and what we do.”

    Vinomofo recently appointed its first employee in Singapore. Michael Parmeter has been appointed general manager, and will look after ground operations, strategic growth, merchandise and local area marketing.

    The country represents a strong growth market for Vinomofo, which also operates in New Zealand, and is looking to launch in the US in the near future.

    Dry said that Vinomofo has achieved its goal of returning to profitable growth in FY19, and will be looking to accelerate its global growth again in FY20.

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  • Vietnam Airlines Unlocks New Perspectives into Customer Experience Insights with Qualtrics

    Vietnam Airlines Unlocks New Perspectives into Customer Experience Insights with Qualtrics

    Qualtrics, the leader in experience management, today announced Vietnam Airlines, a leading airline in South East Asia and national flag carrier of Vietnam, is using Qualtrics CustomerXM™ as part of the company’s efforts to create a more robust and tailored customer experience for its 22 million annual passengers.

    With Qualtrics CustomerXMTM – a comprehensive experience management platform – Vietnam Airlines is able to capture and respond to customer feedback in real-time. The national carrier of Vietnam has also increased the volume of customer engagement captured and research scope.

    “Qualtrics initiatives have enabled Vietnam Airlines to reduce the time needed to collect and respond to customer feedback from months to weeks. The speed at which we are now able to operate, along with the ability to garner new insights from our passengers, are key differentiators for us. Powered by the speed and accuracy of the Qualtrics CustomerXMTM platform, Vietnam Airlines is able to capture customer insights, which serve as very important input for creating breakthrough customer experiences – characterized by Vietnam’s rich culture and identity – helping cement our position as one of the leading carrier in the region,” said Ngo Hong Minh, Director of Passenger Service Department, Vietnam Airlines.

    Vietnam Airlines deployed a number of dynamic data collection tools on Qualtrics CustomerXMTM to derive new perspectives of its entire customer experience. These include dynamic and custom data collection tools that can focus on priority areas in the customer journey, real-time website feedback, QR code feedback capabilities for higher response rates in regions such as China and Singapore where this method of engagement is preferred, and an offline app for “mystery shoppers” to use.

    Customer responses are presented back to Vietnam Airlines in role-based dashboards that can be accessed from any device in real-time. Stakeholders collaborate to create unique pages and apply filters to pinpoint specific moments – like reservations, check-in, and online booking – across the carrier’s 30+ branch offices and representative offices in more than 20 countries and territories.

    “Combining experience data captured by Qualtrics CustomerXMTM with operational data has inspired a number of changes to the customer experience we create at Vietnam Airlines – from the food and drink we serve through to conversations at check-in. Since going live on the Qualtrics platform in late 2017 we’re proud to have maintained  our Skytrax 4-Star status which now extends to fourth year running, and achieved a record profit of VND 2.8 trillion in 2018,” added Minh.

    “Airlines across the globe are looking for ways to compete in increasingly competitive markets on more than price alone. Customer experience is therefore a significant and invaluable differentiator. Vietnam Airlines’ investments and accolades in creating breakthrough customer experiences is testament to the carrier’s tireless devotion and commitment to improving quality across products and services. Qualtrics is proud to support Vietnam Airlines through this exciting and unprecedented period of growth by helping it optimise its customer experience at the moments that matter most,” said Foo Mao Gen, Head of Southeast Asia, Qualtrics.

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  • VinFast Starts Production Of Two Cars Designed By Pininfarina At Its New Plant

    VinFast Starts Production Of Two Cars Designed By Pininfarina At Its New Plant

    The first two cars designed by Pininfarina for the Vietnamese brand VinFast will be manufactured in the new plant which was inaugurated by VinFast Production and Trading LLC at Dinh Vu Industrial Zone, Cat Hai, Hai Phong. It is built on an area exceeding 500,000 square meters out of the 335 hectares of the entire complex, meeting the requirements of Industry 4.0 automation and data exchange system. The designed capacity of the first and second phases are to grow from 250,000 vehicles per year to 500,000 vehicles per year, respectively, with the production speed reaching 38 vehicles per hour.

    The Vietnamese brand will produce the new Pininfarina-designed LUX A2.0 sedan and LUX SA2.0 SUV, both of which made their debut at the 2018 Paris Motor Show. After unveiling 20 concept designs submitted by world-famous design houses including Pininfarina, Vinfast asked customers to vote which they thought were in line with world trends and fitting with Vietnamese tastes and demand. Nearly 62,000 participants voted in the contest. The Sedan and SUV designs that collected the most votes were the two that Pininfarina will develop.

    VinFast has in fact already received 10,000 preorders, a year prior to the launching of its final products and that’s quite a record it’s set. After the inauguration of the factory, VinFast will organize the delivery and release of the first cars. Specifically, delivery of VinFast Fadil cars to customers started on June 17, while Pininfarina-designed Lux A2.0 sedan and Lux SA2.0 SUV will be delivered at the end of July 2019.

  • Shopee on top of the 10 m-commerce players in Vietnam

    Shopee on top of the 10 m-commerce players in Vietnam

    Shopee heads the list of the top 10 m-commerce players in Vietnam for the first quarter of this year.

    The findings were released in a ranking by Iprice Group and App Annie Intelligence, which ranked shopping apps according to the number of monthly active users. It noted that mobile shopping is quickly becoming an important feature of e-commerce business in Vietnam.

    According to Google and Temasek’s report last year on the Southeast Asian ‘e-conomy’, more than 90 per cent of Southeast Asians are now connecting to the internet primarily through their smartphones, making this region one of the most mobile-first globally.

    Iprice Group also noted that during last year’s Singles’ Day, the rate of consumers accessing its e-commerce platform by mobile has risen rapidly from 62.5 per cent in 2017 to 80.4 per cent last year.

    Facing these customer behaviour trends, online retailers in Vietnam are now scrambling to improve and promote their mobile apps. Shopee, in particular, has invested a lot on campaigns to attract consumers to its app.

    “Shopee has focused on mobile from the beginning and built its user interface around it,” read an assessment report by marketing research agency Econsultancy last year. “This made users’ mobile shopping experiences faster and more intuitive – users can buy or sell their items in less than 30 seconds – allowing Shopee to capture a large group of mobile users in Southeast Asia and Taiwan.”

    Ranked number two of the top 10 e-commerce players in Vietnam is Shopee’s biggest regional competitor Lazada. This is perhaps a more surprising result, as according to Iprice Group’s previous report, which ranked Vietnamese e-commerce companies based on average website traffic, Lazada’s monthly traffic has been on a decline that puts them in third place behind Shopee and Tiki.

    However, when it comes to mobile, the e-commerce giant is now shifting to put a bigger emphasis on mobile shopping.

    Ranking in the top five behind Shopee and Lazada are apps from three local e-commerce platforms: Tiki, Sendo and Adayroi. These three companies also have been achieving positive results in terms of average website traffic for the recent quarter, making them worthy opponents for the two regional companies.

    Behind this top five in the ranking are AliExpress, Amazon, eBay, and Alibaba – all of which are currently not officially operating in Vietnam.

    Lotte.vn – the South Korean hypermarket group’s local subsidiary – rounded out the top 10 m-commerce players in Vietnam rankings.

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  • Vietnamese e-commerce platform Tiki set to raise US$100 million

    Vietnamese e-commerce platform Tiki set to raise US$100 million

    Vietnamese e-commerce platform Tiki is raising another US$100 million from a Northstar Group-led funding round.

    The deal, was initially aiming for $75 million, but has been scaled up with support from Tiki’s current Korean backers, and may pull in as much as $150 million if certain KPIs are met.

    Tiki, which acquired competing platform Lazada last year, is now Vietnam’s second-largest e-commerce player after Shopee. It attracted a $44 million investment from Chinese industry partner JD early last year, and recently extended its national logistics operations in partnership with Vietnamese firm Unidepot.

    “Supply chain is a billion-dollar industry in Vietnam with surprisingly rapid growth,” said Tiki CEO Tran Thai Son. “However, Vietnam’s supply chain has not achieved its peak efficiency. For example, for an order worth 100,000 dong, logistics costs can be up to [25,000] dong.”

    Tiki’s infrastructural investments have seen the firm accumulate losses of around VND1 trillion ($43.3 million) over recent years.

  • Vietnam’s Vingroup new factory to produce 125m smartphones

    Vietnam’s Vingroup new factory to produce 125m smartphones

    Vingroup JSC, Vietnam’s biggest listed firm by market value, said on Monday it has started work on a second smartphone factory with a capacity to produce 125 million units a year.

    The new factory in the capital, Hanoi, will vastly increase Vingroup’s current capacity of five million units at its facility in the northern city of Haiphong, the conglomerate said in a statement.

    Construction is expected to be completed by early 2020 and the jump in capacity will help the company meet orders from Europe and the United States, Vingroup CEO Nguyen Viet Quang said in the statement.

    “After a period of deploying and participating in the smartphone manufacturing industry, our products have been positively received by the market,” Quang said.

    “We received many processing orders from major partners in Europe and the United States. That’s why we have invested in a factory with 25 times the capacity of our current factory in Haiphong, to meet with domestic and international demand,” he added.

    A company spokesman declined to provide the names of the European and US partners.

    Vingroup launched its smartphone brand, Vsmart, in December last year, seeking to win market share from popular brands Samsung and Apple in Vietnam, which has a population of 95 million people.

    Vsmart phones use chips from Qualcomm and run Google’s Android operating system, and went on sale at a price of 3.39 million dong ($145) to 6.59 million dong ($282).

    In March, the company began selling Vsmart phones in Spain and planned to expand into other European markets. Its phones went on sale in regional neighbour Myanmar last month.

    It is part of a diversification strategy that has seen Vingroup, once focused on real estate and retail, become Vietnam’s first fully-fledged domestic carmaker in 2018.

    Electronics is a vital part of Vietnam’s economy as firms such as Japan’s Sony Corp and South Korea’s LG Electronics and Samsung Electronics reorganise production in the face of slumping global demand.

    Samsung said in December it will close one of its mobile phone plants in China as it focuses on low-cost countries like Vietnam, where it is the largest single foreign investor.

    In April, LG Electronics said it would stop making smartphones in South Korea and move production to Vietnam.

    South Korean chips-to-energy conglomerate SK Group said last month that it had agreed to buy 6.1% of Vingroup for $1 billion as it expands its investments in Vietnam.

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  • One million promotional tickets priced from MYR0 are up for grabs!

    One million promotional tickets priced from MYR0 are up for grabs!

    Pack your bags and get ready for an exciting summer as Vietjet is offering travellers an easy and affordable way to explore Vietnam and other parts of the region through its latest summer promotional campaign ‘Fly for Love – Show your summer version’.

    From 19 – 21 June 2019, 1,000,000 super-saving tickets from as low as MYR0 (*) will be up for grabs during the golden hours of 1pm to 3pm (Malaysian time). The offer is applicable for travels between 20 August 2019 to 31 December 2019 (**).

    The promotional tickets are applicable for all domestic routes in Vietnam and international routes from Vietnam to Kuala Lumpur (Malaysia); Bali (Indonesia); Seoul, Busan, Daegu (South Korea); Kaohsiung, Taipei, Taichung, Tainan (Taiwan); Hong Kong; Singapore; Bangkok, Phuket, Chiang Mai (Thailand); Yangon (Myanmar); Siem Reap (Cambodia), as well as all domestic and international routes in and from Thailand.

    Those looking to travel from Vietnam to Japan will be in for a special treat as the promotional fares will be up for grabs at all hours of the day during the promotion period. This is the perfect chance to grab your promotional tickets for a getaway trip in Vietnam and beyond with Vietjet’s expanding network around Asia.

    The promotional tickets are available for purchase via all sales channels including the airline’s website. Vietjet’s summer campaign is specially designed for people who are passionate about travel experiences and wish to step out of their comfort zone and start living the dream! This campaign is also a wonderful opportunity for people to leave their worries at the door, express themselves in a fun way and immerse in the jubilant festival atmosphere this summer.

    That’s not all! Those unafraid to showcase their fun side will also be rewarded with exclusive gifts as Vietjet passengers dressed up in their favourite cosplay costume while travelling on a Vietjet flight from 1 June 2019 to 31 July 2019 will also receive a special gift.

    Since operating its first flight in 2011, Vietjet has been a pioneering airline, winning the hearts of millions of travellers thanks to its exciting promotions, in-flight entertainment, especially during the festive seasons. With high-quality services, diverse ticket classes, Vietjet offers its passengers flying experiences on new aircraft with comfy seats and delicious hot meals served by a lovely, dedicated and friendly cabin crew, and many more enticing add-on services

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  • Zara Posts Dramatic Growth in Vietnam

    Zara Posts Dramatic Growth in Vietnam

    Zara is outpacing archrival H&M in one of their fastest-growing markets, Vietnam.

    Zara Vietnam’s revenue reached US$73 million last year, six times the 2017 figure.

    The Spanish fast-fashion retailer has opened two stores in Vietnam – one in Hanoi and one in Ho Chi Minh City.

    During three years of operations, Zara Vietnam has achieved US$128 million. Rival H&M, which runs seven Vietnam stores, reportedly achieved revenue of $33 million last year, double that of its first year in the country.

    Along with three other Inditex’s brands, Massimo Dutti, Pull & Bear and Stradivarius, Zara is distributed by Indonesia’s Mitra Adiperkasa Group.

    According to Mitra Adiperkasa’s financial report, Zara remains its main revenue earner and Vietnam is its second-largest market after Indonesia.

    The company’s revenues in Vietnam last year were almost double the previous year’s figure and four times higher than its sales in Thailand.

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