Social Affairs
H&M to launch its first store in Hanoi at Royal City in November
Following the success of the first fashion brand H&M 2 months ago in Ho Chi Minh city, H&M Vietnam is preparing for the launching of its second store in Hanoi on Saturday, November 11.
Located in the Vincom Megal Mall Royal City Hanoi, the store is expected to houses a selection of latest fashion and accessories for men, women, teenagers and kids, including the H&M Studio AW’17 women’s wear. Later in the year, the brand will also bring its global lines such as The Weeknd’s Selection and the recently announced ERDEM x H&M designer collaboration followed by the Holiday collection.
H&M’s Country Manager for Southeast Asia, Fredrik Famm said, we had had a great start at Ho Chi Minh city, and now the wait is over to bring H&M’s unique shopping experience to Hanoi fashionista”. Mr. Fredrik Famm also added, H&M aims to offer customers added value through fashion quality, and sustainability at the best price in a sustainable way.
On the opening day, the store will open for customers from 10:30 a.m to 10:00 p.m, with exciting performances of DJs, as well as limited gifts of H&M to first customers in line. After the opening day, customers can enjoy shopping at H&M from 9:30 am to 10:00 pm every day. In the beginning of September, H&M has launched its first store in Vietnam, which is located at Vincom Center Dong Khoi in District 1, Ho Chi Minh City, as the over 2,000 sqm flagship store spans over two levels.
One of the competitors of H&M, Zara also expects to open its first store in Hanoi in November at the Ba Trieu Vincom Center. Zara came to Vietnam last September with the first store at Vincom Dong Khoi, Ho Chi Minh City, covering 2400 sqm over two levels. The store reportedly achieved sales of VND 5.5 billion (US$246,000) on its first day’s trading. Early this month, H&M confirmed it would open at the same center, becoming Zara’s neighbor.
With the presences of Zara, H&M and other branches of Inditex such as Stradivarius, Pull & Bear, Massimo Dutti also joined the Vietnam market, the wave of fast fashion (contemporary term used by fashion retailers to express that designs move from catwalk quickly to capture current fashion trends) shows the Vietnam retail market has significantly transformed compared to the estimation 4 or 5 years ago from international organization, in which said Vietnam retail market would need at least 10 years to be fully developed.
This impressive breakthrough of the market stems from the high demands of Vietnamese customers for imported products with reasonable prices, which is only partially met through the hand carried goods sources. Evidently, revenue of Zara Vietnam is currently in the top 5 for the highest revenue stores of the brand in the world. This is seen as strong motivation for other fashion brands such as Uniqlo and Forever21 to approach Vietnam fashion market.
The first H&M store in Vietnam was launched in Ho Chi Minh city.
|
On the opening day, the store will open for customers from 10:30 a.m to 10:00 p.m, with exciting performances of DJs, as well as limited gifts of H&M to first customers in line. After the opening day, customers can enjoy shopping at H&M from 9:30 am to 10:00 pm every day. In the beginning of September, H&M has launched its first store in Vietnam, which is located at Vincom Center Dong Khoi in District 1, Ho Chi Minh City, as the over 2,000 sqm flagship store spans over two levels.
One of the competitors of H&M, Zara also expects to open its first store in Hanoi in November at the Ba Trieu Vincom Center. Zara came to Vietnam last September with the first store at Vincom Dong Khoi, Ho Chi Minh City, covering 2400 sqm over two levels. The store reportedly achieved sales of VND 5.5 billion (US$246,000) on its first day’s trading. Early this month, H&M confirmed it would open at the same center, becoming Zara’s neighbor.
First customer in H&M store in Ho Chi Minh city.
|
This impressive breakthrough of the market stems from the high demands of Vietnamese customers for imported products with reasonable prices, which is only partially met through the hand carried goods sources. Evidently, revenue of Zara Vietnam is currently in the top 5 for the highest revenue stores of the brand in the world. This is seen as strong motivation for other fashion brands such as Uniqlo and Forever21 to approach Vietnam fashion market.
