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Tag: Vietnam

  • Facebook’s Mark Zuckerberg to visit Vietnam

    Facebook’s Mark Zuckerberg to visit Vietnam

    Founder and CEO of Facebook Mark Zuckerberg is expected to arrive in Vietnam on Saturday.

    Zuckerberg is scheduled to visit world heritage site Ha Long Bay in northern Vietnam and take a seaplane tour around the bay on Saturday morning.

    This will be his second visit to Vietnam after his first trip in 2011, when he toured the country with his then-girlfriend-now-wife Priscilla Chan for a Christmas vacation.

    On this visit, the world’s fifth richest person according to Forbes magazine, will be accompanied by colleagues.

    In March, Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said Vietnam had invited Facebook leaders, including Zuckerberg, to attend the Asia Pacific Economic Cooperation (APEC) Summit that concludes Saturday in the central city of Da Nang.

    “We want Facebook leaders to join hands with Vietnam to support startups, and we hope Zuckerberg will accept the invitation,” he said.

    Facebook COO Sheryl Sandberg has been in Da Nang since Wednesday and delivered a speech at the APEC CEO Summit on Friday morning.

    She is scheduled to appear on a talk show to discuss equality in the workplace on Sunday in Hanoi.

    Vietnam is in the top 10 countries for Facebook users, and Google’s YouTube is also a popular platform.

    Last week, a draft law on internet security that would require foreign companies such as Google and Facebook to have offices and servers in Vietnam was met with strong opposition from experts and industry insiders.

    The VCCI said it went against commitments that Vietnam signed up to when it joined the World Trade Organization (WTO) and the EU-Vietnam Free Trade Agreement (EVFTA), as well as the Trans-Pacific Partnership Agreement (TPP).

    Insiders said if the bill is passed, Google, Facebook, Skype and Viber would have to invest in giant servers in Vietnam to legally operate in the country.

    In that case, local internet providers said there is a high possibility that they would drop out of the Vietnamese market.

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  • Mystery foreign investor buys $396 million stake in dairy giant Vinamilk

    Mystery foreign investor buys $396 million stake in dairy giant Vinamilk

    Vietnamese dairy giant Vinamilk sold a 3.33 percent to an unnamed foreign investor for VND8.99 trillion ($396 million) on Friday.

    The investor bought the 48.3 million shares on offer for VND186,000 ($8.20) apiece, 24 percent higher than the asking price.

    The share sale, which attracted 19 investors including six foreign firms, reduced the state ownership in Vinamilk, Vietnam’s biggest listed firm, to 36 percent, still enough to retain veto rights.

    Vietnam’s State Capital Investment Corporation had forecast the sale would fetch VND6.5 trillion to VND7 trillion ($286.3 million to $308.4 million).

    In December, the state investor put on offer a 9 percent stake in Vinamilk, but was only able to offload 5.4 percent to two investors – both units of existing shareholder Fraser and Neave Ltd.

    Investors looking to gain a degree of control over Vinamilk were deterred by the size of the stake on offer. The government had initially planned to sell its entire 44.7 percent stake.

    The government is trying to divest from hundreds of state-owned enterprises, including brewers Hanoi Beer Alcohol and Beverage JSC (Habeco) and Saigon Beer Alcohol Beverage Corp (Sabeco) in which it owns a combined $7.8 billion worth of shares by market value.

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  • Vietnam’s ‘Little Paris’ tells tourists to be ‘decent’ and ‘civilized’

    Vietnam’s ‘Little Paris’ tells tourists to be ‘decent’ and ‘civilized’

    Lam Dong Province, home to the popular highlands resort town of Da Lat, has issued a list of rules for tourists that includes a dress code and shopping guidelines.

    The code of etiquette, drawn up by the province’s tourism department, asks visitors to be “civilized, decent and responsible”, Tuoi Tre newspaper reported.

    They should wear suitable clothing, respect cultural differences, avoid littering and stealing, and queue in line when they are shopping or buying tickets.

    The purchase of undocumented goods and wildlife products is deemed “inappropriate” behavior, the rules state.

    Hotels, restaurants and other services are also warned not to overcharge, sell copycat or low quality products, or pester customers.

    The code of conduct is based on a national set issued by the tourism ministry in March this year, and will be printed in Vietnamese and English in time for the annual Da Lat Flower Festival in late December.

    Lam Dong received around three million visitors in the first half of this year, of which foreign travelers increased 44.3 percent from a year ago to more than 204,400.

    The Central Highlands province is best known for Da Lat, which is often dubbed “Little Paris” due to its colonial history.

    But like many places across Vietnam, Da Lat has both benefited and lost out to the recent travel boom.The mostly quiet and charming town, surrounded by pine trees, flowers and vegetables farms, is famous for its cool climate and has gained in popularity both as a romantic getaway for lovers and an oasis in a country that usually sweats all year round.

    Its center is covered in garbage on big holidays, when complaints of thefts and rip-offs are not uncommon.

    This year, Da Lat has reported multiple cases of local gangsters and racketeering gangs colluding with businesses to scam travelers, usually on strawberry farms or in souvenir shops.

    The gangs have reportedly threatened to assault tour guides and drivers from several travel companies who have refused to lure tourists into their traps.

    The issue got physical in May when a tourist was beaten after trying to return a product, prompting the government to order immediate measures be taken to protect visitors from these new groups of gangsters.

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  • Saigon says delayed first river bus will launch in late November

    Saigon says delayed first river bus will launch in late November

    Saigon’s first river bus service will hopefully be up and running later this month, according to local authorities.

    The service will cruise 10.8 kilometers (6.7 miles) from Bach Dang Wharf in District 1 to Linh Dong Station in Thu Duc District, passing through District 2 and Binh Thanh District.

    With 12 stops in total, the entire trip will take half an hour, cutting a third off the time it would take to travel by road and costing just VND15,000 (66 U.S. cents).

    The first river bus was due to launch this summer, but the city has kept passengers waiting on the dock. In August, it said that construction delays would not allow the first river bus to set sail until October.

    The city’s transport department explained that as it is the city’s first river bus, it wants to make sure the service is as user-friendly and convenient for passengers as possible.

    However, the only passengers to have experienced the service thus far are those recruited by the city for two test runs.

    Saigon has more than 1,000km of inland waterways, so the river bus service should ease traffic and attract more tourists, director of the city’s transport department Bui Xuan Cuong told local media in August.

    A second route from Bach Dang Wharf to District 8 is scheduled to open in early 2018. The two routes are said to have cost an estimated VND120 billion ($5.28 million).

    In April, the city’s municipal administration approved two more routes connecting the downtown with new urban areas in District 7.

    In September, the city also agreed to a plan tabled by a private firm to add three more routes connecting the city’s downtown with the outlying districts of Can Gio and Cu Chi, as well as the stunning Con Dao Island, which is administered by the southern province of Ba Ria-Vung Tau and lies 230 kilometers (143 miles) away from Saigon.

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  • Vietjet evolving as a Consumer Airline in its next phase development

    Vietjet evolving as a Consumer Airline in its next phase development

    Fast growing Vietjet is evolving to become a “Consumer Airline” in its next phase of development, according to its President and CEO, Nguyen Thi Phuong Thao, at the APEC CEO Summit 2017 in Danang, Vietnam.
    Speaking at the session themed “Connecting for Growth,” Nguyen said Vietjet is heading to build up the airline that serves consumption demands, using e-commerce platform and logistics and consumption product distribution system.

    “We are leading a digitalization and automation trend in the 4.0 technology revolution. I believe that direction plays a very important role to fulfill the target of – connecting for growth,” she said.

    Sharing the Vietjet success story, Nguyen said “our pride named Vietjet” is a typical corporate culture trait which is the key of success for all our plans, all strategies and all ambitions.

    “Each of us is proud of being a member of our organization. We do strongly believe that with the connection of civilizations and nations and cultures, trading sectors which create ecological systems for human development and economic growth, there is a prosperous and brighter future in the sky. We are dedicated to realizing that future soon.”

    She also presented the Vietjet vision with a global development plan that comes with efforts to build up the airline into a multi-national company and multi-cultural environment homing staff from more than 30 countries.

    Defined by our motto “Sky Connection,” Vietjet international routes now account for more than two-third of our operating network, she said.

    “We are heading our international network via interlines with credited airlines in the world. We successfully did it with Qatar Airways, doing it with Japan Airlines and will do it with Asiana soon. We are also working with one carrier in the US and one carrier in EU for possible co-operations. Other than standard low-cost carriers which can only fly around with a radius of less than three hours, in a very near future, our passengers can fly to many destinations around the world,” she added.

    At the helm of Vietjet’s rapid expansion, Nguyen Thi Phuong Thao has been named by Forbes as one of the world’s top 10 power women in business. It is her ambition to grow Vietjet, which she founded in 2011 into an international airline. Vietjet, the first airline in Vietnam to operate as a new-age airline with low-cost and diversified services, was listed in the country’s largest IPO on the Ho Chi Minh City Stock Exchange last February.

    After only five years of operation, Vietjet has captured the biggest share of the Vietnam local market and become the country’s largest domestic carrier.

    The APEC CEO Summit 2017, held in Da Nang between 8 – 10 November, 2017 is Asia-Pacific’s premier business event. It provides unparalleled opportunities for global business executives to engage in dialogue with APEC Leaders, high-level government officials and influential thought leaders.

  • Vietjet Bags Best Ultra Low Cost Airline Award 2018

    Vietjet Bags Best Ultra Low Cost Airline Award 2018

    New age airline Vietjet is certainly no stranger in the aviation arena, making headlines for its innovative campaign executions and exponential growth in recent years.

    It comes as no surprise that the airline was recently bestowed the inaugural Best Ultra Low Cost Airline Award 2018 title by AirlineRatings.com – the world’s only air safety and product rating review website. Joining the likes of Air New Zealand and Singapore Airlines, Vietjet was named a winner of the Airline Excellence Awards by the website which promotes excellence in the airline industry.

    Geoffrey Thomas, Editor-in-chief of AirlineRatings,com said, “Vietjet is a real innovator bringing very affordable, safe and enjoyable travel with an outstanding product to millions across Asia and Vietnam. The airline has done the impossible – bringing top class travel to the region at amazing prices and ultimate flight experiences.”

    “The new award, taken out by Vietjet, celebrates a new breed of airlines that offer extraordinary value to passengers, while not compromising on product or service,” added Thomas.

    Since its debut in December 2011, Vietjet has rapidly grown its fleet and expanded its route networks to include a number of local and international destinations, opening up affordable travel to all across the region.

    To date, the airline has flown over 40 million passengers, and been presented with numerous awards including 32 domestic and nine international accolades such as being named ‘The Pioneer Airline’ by The Guide Awards 2017 at the annual festival of national tourism 2017 Vietnam and the ‘The Best Asian Low-Cost Carrier 2015’ at the TTG Travel Awards 2015.

    At the helm of Vietjet’s success is its Founder and CEO, Nguyen Thi Phuong Thao who was recently listed in Forbes World’s 100 Most Powerful Women list.

    “I have always aimed big and done big deals. I have never done anything on a small scale and this is the same driving force behind the growth of Vietjet. It is my goal to continue propelling Vietjet forward and leading it to its highest point of success,” said Thao. Vietjet plans to open six new routes in the fourth quarter, increasing its total new routes by 19 for the year 2017.

    The AirlineRatings.com Airline Excellence Awards, judged by six editors with over 180 years’ industry experience, combines major safety and government audits, with 12 key criteria – up from nine last year – that include: fleet age, passenger reviews profitability, investment rating, product offerings, and staff relations.

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  • Miniso Vietnam to open more stores

    Miniso Vietnam to open more stores

    Miniso Vietnam plans to open 500 more stores in the next two years, adding to the 30 outlets already established.

    Co-founder/chief designer Miyake Junya says he has signed a strategic co-operation agreement with Vietnamese developers, including Vincom, which includes plans for 300 stores next year.

    He says Miniso will open 10,000 stores in 100 countries by 2019, with expectations of global revenue reaching US$15 billion.

    In its four years, the Chinese discount chain already has 2000-plus stores in more than 60 countries and regions.

    Miniso Vietnam launched in August last year.

  • Vietnam’s richest man leapfrogs Donald Trump on Forbes’ billionaires list

    Vietnam’s richest man leapfrogs Donald Trump on Forbes’ billionaires list

    Vietnam’s richest man and first billionaire has climbed past U.S. President Donald Trump on Forbes magazine’s real time list of the world’s billionaires.

    Pham Nhat Vuong, founder and chairman of Vingroup JSC., was the world’s 640th richest person with a net worth of $3.5 billion as of 5 p.m. GMT on November 8.

    Since the release of Forbes‘ 2017 billionaires list in March, when Vuong was ranked 867th, his net worth has increased by over $1 billion. This gain is largely attributed to Vingroup’s shares gaining nearly 50 percent in the last six months and the IPO of Vingroup subsidiary Vincom Retail earlier this week.

    Meanwhile, the U.S. president and real estate mogul dropped from 544th to 734th with a net worth of $3.1 billion. His fortune has been declining over the past year due to a tough New York real estate market, a costly lawsuit and an expensive presidential campaign, according to Forbes.

    Meanwhile Nguyen Thi Phuong Thao, founder of budget airline Vietjet Air and Vietnam’s second billionaire, was ranked 1246th with a net worth of $1.9 billion.

    At the top of the billionaires list was Amazon’s founder Jeff Bezos with a net worth of $94.9 billion, followed by Microsoft co-founder Bill Gates at number two with $89.5 billion.

    Vingroup is one of Vietnam’s largest real estate conglomerates, and has also been expanding rapidly into retail, logistics, agriculture, education and healthcare. As of the end of September, its subsidiary Vincom Retail was managing, operating and renting 41 shopping malls with a total area of over 1.1 million square meters (272 acres). It also has 22 projects under construction and another 50 in early development.

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  • Vietnam stock hits fresh near 10 years high

    Vietnam stock hits fresh near 10 years high

    Vietnam shares gained 0.9 percent, with real estate developer Vingroup Joint Stock Company climbing 4.7 percent to an all-time peak.

    Global equities were largely muted as concerns of a delay in U.S. tax reform proposal and apprehension over Saudi Arabia’s rising tensions with Iran soured investor sentiment.

    “Markets seem unsure which way to go next – equity markets are largely becalmed…,” ING analysts said in a note.

    Most Southeast Asian stock markets were muted today, with Indonesia slipping from a record close, as investors took a breather in the absence of market-moving data.

    Indonesian stocks slumped 0.3 percent from a record close, dragged by the telecommunications sector, with Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, down 1.7 percent.

    Singapore index was largely flat, with real estate giant CapitaLand Ltd down 1.1 percent and Keppel Corp Ltd giving up 0.9 percent.

    Philippine stocks edged 0.3 percent lower, with industrial stocks accounting for majority of the losses, as SM Investments Corp slumped 2.8 percent, and food processor JG Summit HoldingS dropped 1.2 percent.

    Real estate stock Ayala Land was the biggest drag on the index, declining 2 percent. Manila-based RCBC Securities analyst Fio De Jesus attributed the stock’s move to profit-taking after it rose 1.3 percent in its previous session on strong nine-month earnings.

    Thai shares pared early gains in the session to trade down 0.1 percent ahead of the Bank of Thailand’s rate decision due later in the day. The central bank is expected to leave its benchmark interest rate near record lows again, with the current level seen supporting the country’s economic recovery while inflation stays benign.

  • Telco giant Viettel named biggest tax payer in Vietnam

    Telco giant Viettel named biggest tax payer in Vietnam

    A list of the 1,000 businesses that paid the most tax last year in Vietnam has been released, and includes three foreign firms in the top 10.

    Military-run telco giant Viettel topped the list after earning a pre-tax profit of nearly VND40 trillion ($1.76 billion), followed by Japanese motorbike and automobile producer Honda and state-owned energy group PetroVietnam, according to a report by the General Department of Taxation.

    Viettel is Vietnam’s largest telecom firm in terms of earnings, and operates mobile networks across 10 countries in Southeast Asia, South America and Africa with further plans for expansion. UK-based Brand Finance ranks its brand value seventh in Southeast Asia and 93rd globally.

    Japanese automobile maker Toyota and Dutch brewery Heineken were also named among the top 10 biggest tax payers in Vietnam last year.

    The rest of the top 10 was made up of state-owned enterprises: telecom firm MobiFone, major lenders Vietcombank and VietinBank, dairy giant Vinamilk and the Airports Corporation of Vietnam.

    Details of how much tax each company paid were not released, but the report said that the 1,000 biggest payers contributed more than VND90 trillion (nearly $4 billion) to the state budget in 2016, up 12 percent from the previous year.

    The top 10 accounted for nearly 75 percent of that figure, it said.

    Vietnam imposes a corporate tax rate of 20 percent.

  • Vietnam’s stock capitalization rockets to $132 billion

    Vietnam’s stock capitalization rockets to $132 billion

    Vietnam’s total stock market capitalization in the first 10 months reached $132 billion, up 83 percent from the end of last year and equal to 61 percent of Vietnam’s gross domestic product, the National Financial Supervisory Commission reported on Wednesday.

    During the first 10 months, the benchmark VN-Index on the Ho Chi Minh Stock Exchange increased by 20 percent from the last day of trading last year.

    Notably, on Wednesday, the VN-Index closed at 859.7 points, marking a 10-year high.

    On the bond market, funding raised from government bonds also witnessed an improvement. In October, the State Treasury of Vietnam issued $307 million worth of government bonds, an on-month increase of 41 percent.

    According to the commission, demand for short-term government bonds (five-year and seven-year terms) increased, but demand for long-term bonds (more than 10-year terms) declined.

    As of October, the State Treasury had completed 85 percent of its bond issuance target for 2017, which has been set at $8.03 billion.

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  • Vietnam’s richest woman wants a Walmart connection on her airline

    Vietnam’s richest woman wants a Walmart connection on her airline

    The founder and CEO of Vietnamese budget carrier VietJet has said she wants to sell products from the world’s biggest retailer Walmart on her airline.

    Nguyen Thi Phuong Thao, the first and only female billionaire in Vietnam according to Forbes magazine, presented the idea to Scott Price, executive vice president of Global Leverage for Walmart International, at the ongoing Asia Pacific Economic Cooperation (APEC) Summit in Vietnam’s central city of Da Nang.

    “We call ourselves a consumers’ airline,” Thao said on Thursday at the APEC CEO Summit.

    “The idea to work with Walmart is an example of VietJet’s customer-oriented approach, emphasizing our philosophy of providing more convenient services for Vietnamese clients in the near future,” she said.

    She also spoke about the role of technology in trade and business, suggesting a tech connection with Walmart for VietJet’s passengers.

    Price said the company is willing to work with VietJet as it has yet to open any stores in Vietnam, providing there is demand for its products.

    “We plan to expand further,” Thao said. “Vietnamese airlines play an important role in connecting Southeast Asia. In the near future we’ll collaborate with more airlines, such as Korea’s ASIANA.”

    Vietjet already has deals with Quatar Airway and Japan Airlines, and is in talks with an airline in the U.S. and another in Europe.

    “Thanks to the connections that VietJet is building, passengers can fly anywhere they want to around the world,” Thao said.

    The CEO Summit has gathered more than 2,000 local and foreign businesses and is one of the most important events at the APEC Summit. It is hosting leaders from the 21 Pacific Rim nations and thousands of businesspeople, including Facebook COO Sheryl Sandberg, UPS CEO David Abney, and chairman and CEO of J.P. Morgan Asia Pacific Nicolas Aguzin.

    Last week, Thao secured 55th spot on the World’s 100 Most Powerful Women 2017 ranking, jumping seven places from the previous year, and was the only Vietnamese national named on the list compiled by Forbes.

    According to the magazine, Thao has an estimated net worth of $1.93 billion, eclipsing the figure of $1.2 billion it calculated in March.

    Thao launched VietJet in 2011. Her “bikini” airline, nicknamed after its unique yet controversial promotion scheme of putting female crew in bikinis on some flights, now offers 300 flights a day, or more than 40 percent of the country’s flights, with a fleet of 45 jets.

    In May, It is reported that the Hanoi-based VietJet Aviation Joint Stock Co. was in talks to become the first Vietnamese company to list on an overseas stock exchange.

    “We’ve been approached by some foreign stock exchanges including London, Hong Kong and Singapore, which expressed their interest in our stock,” Thao was quoted as saying in the report.

    According to Bloomberg, VietJet reportedly received shareholder approval in April to boost its foreign ownership limit to 49 percent from 30 percent.

    She told Bloomberg in an interview a year ago that she has plans to make VietJet a global airline. “We want to make VietJet the Emirates of Asia.”

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  • What Justin Trudeau does in Vietnam in spare time?

    What Justin Trudeau does in Vietnam in spare time?

    Canadian Prime Minister Justin Trudeau capped a hectic day in Ho Chi Minh City by jogging along the Nhieu Loc-Thi Nghe Canal on Thursday evening, catching locals off-guard and setting the media abuzz.

    The charismatic prime minister was on an official visit to Vietnam’s biggest city before going for a jog along the canal, which is considered an example of smart urban development.

    According to media reports, he started jogging at around 7 p.m. With his cap on, Trudeau, flanked by several of his guards, ran past many locals who were exercising outdoors.

    “He looks so handsome and gentle,” an elderly woman who was working out along the canal said.The surprise appearance of the Canadian prime minister attracted widespread attention.

    “When I realized he was the Canadian prime minister, I was in awe of such a young, handsome and down-to-earth leader,” Nguyen Thi Thanh, 61, said.

    Last May, another photo of Trudeau jogging past a group students taking prom photos in Vacouver, Canada, also went viral, creating a made-for-meme internet sensation.

    But after it was pointed out that the shot was snapped by his official photographer, his critics blasted the media for continuing to fall for what “seems to be a constant stream of PR stunts”, The Guardian reported in May.

    The report cited Robyn Urback, a columnist for the Canadian Broadcasting Corporation, as saying that in politics, even the most spontaneous run-ins are carefully set up. “And public photobombs by politicians in their Sunday sweats usually involve some sort of prior coordination,” she said.

    in-vietnams-biggest-city-justin-trudeau-concludes-official-visit-by-jogging-past-locals-1
  • Trump to sell new Asia policy at regional summit

    Trump to sell new Asia policy at regional summit

    President Donald Trump is expected to bill a new policy for Asia during his two-day stay in Vietnam this week, but the U.S. administration needs to follow through with concrete actions to restore waning confidence in a region weary of his erratic diplomacy.

    At the Asia Pacific Economic Cooperation (APEC) this week in the central Vietnamese city of Da Nang and his state visit later on in Hanoi, Trump will promote the concept of a “free and open Indo-pacific region”. Japan first floated this idea, tailored to push the U.S. to coalesce three other maritime democracies — Japan, Australia, and India. According to American officials, this sales pitch is aimed at demonstrating America and the Trump administration’s commitment to the Indo-Pacific region.

    But political rhetoric only will not be enough to reassure a region increasingly anxious about U.S. commitment, analysts say.

    A survey in March by the Iseas Yusof Ishak Institute in Singapore that polled government officials, business representatives, academics and journalists in Southeast Asia found that around 75 percent of the respondents saw China, not the U.S., as the most influential player now and in the next decade. Two-thirds of respondents also viewed the U.S. less favorably than four months ago, according to the survey.

    “Some of Trump’s statements and actions since he came to power have undermined the U.S. strategic position in the region, but most regional countries would like to see Washington’s continued engagement with the region,” Le Hong Hiep, a research fellow at the Iseas Yusof Ishak Institute, said.

    “As such, his concept of a ‘free and open Indo-Pacific’ is likely to be welcomed by most regional countries,” Hiep said. “But again, at this stage, it is just a policy concept. Washington needs to follow up with concrete actions aimed at maintaining and strengthening economic and strategic engagement with the region to restore its strategic position in this part of the world.”

    His attendance at the APEC Summit is part of his 13-day five-nation Asia tour, the longest tour of Asia by any U.S. president since George Bush in late 1991. Trump had planned to skip the East Asia Summit, a key gathering of Southeast Asian leaders in the Philippines on November 13. He only made a last-minute change to attend apparently at the request of other leaders.

    “It is still not too late for the U.S.,” Dennis C. McCornac, an economics professor at Loyola University Maryland in Baltimore, said, “to come to its senses and understand that this so-called ‘American first’ policy is really a disguised form of isolation – a policy that will and has never really worked for any country,”

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  • Precita flagship store in Ho Chi Minh City

    Precita flagship store in Ho Chi Minh City

    Emerging jewellery brand, Precita, has opened a stylish flagship in the centre of Ho Chi Minh City in Vietnam, designed by a Hong Kong company.

    With its traditional focus being on monetary value, the Vietnamese jewellery market is proving a challenge for international brands. With that in mind, Stefano Tordiglione, chief designer for the company bearing his name, sought to create a balance between sensitivity and boldness, introducing fashionable jewellery pieces in a modern and chic light with an eye on the classic vogue. His client was Ben Thanh Jewelry JSC.

    Stefano Tordiglione Design - Precita 10

    Visitors to the bright, 150sqm store are drawn in by the jewellery cabinets with smooth lines of subtle blue edging. The grandeur and the historical structure of the Vietnamese building is softened by soft stucco white walls and large wall cabinets reminiscent of windows, where a sense of contemporary feel is highlighted in a touch of sky blue – the brand’s colour.

    Stefano Tordiglione Design - Precita 5

    The feature wall behind the circular display unit highlights a geometric pattern reinterpreting the word ‘Precita’ in oak and glass, a unique expression of the brands identity created by the designer.

    Stefano Tordiglione Design - Precita 2

    A VIP area displays higher-value items in a secluded area inside the boutique.

    “Here transparent cabinets and mirrors are accompanied and differentiated by wooden lines, which descend to hold them suspended in an atmosphere of lightness and curiosity,” explains Tordiglione.

    “The floor is a deliberately open space that looks out over the entryway, inviting a breath upon entry and exit with an ample double-height space over the 8m-high facade.”

    The materials were chosen to represent the character of the brand. The cabinets are off-white, with subtle recalls of the Precita pattern in relief, rose-gold coloured metal edging the glass and brand pattern and colour.

    Stefano Tordiglione Design - Precita 11

    “The brand logo frame is given modern assurance by a scraped concrete background, while clean grey stone flooring is surrounded by oak to add warmth. Wood also holds the legs of the cabinets where they meet the floor, giving a sense of lightness. The store lights marry form and function, illuminating the precious pieces and also forming a starry night from the exterior.”

    Stefano Tordiglione Design - Precita 3

    The facade, inspired by American 1950s style, stands unique and clean.

    Explains Tordiglione: “It expresses the defining elements of the store in layers – the cool blue lines against clean beige stone, the unique Precita pattern that forms the visual identity of this new brand.

    Stefano Tordiglione Design - Precita 7

    Together with the repeated light fixtures, they all combine to create a tone of graceful dynamism.

    “At night the LED lights come on, framing and confirming the presence of a new brand, and a refreshed way of thinking about jewellery.”

    Stefano Tordiglione Design Ltd completed the project in May of this year. Precita currently has three stores in Ho Chi Minh City.

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