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Update news H&M
On the evening of April 2, the search phrase “H&M relation to problematic map" suddenly topped searches on the Chinese social network Weibo. As of 9:30 am on April 3, it had reached 410 million readers.
Some Vietnamese netizens have said that H&M (in China) has posted a "problematic" map that violates Vietnam's maritime sovereignty and called for boycott of this Swedish fashion brand.
Vietnamese fashion brands are feeling the heat as more and more foreign brands have arrived.
Vietnam’s garment-textile sector is expected to make breakthroughs in 2020 thanks to the Fourth Industrial Revolution.
A number of famous international fast fashion brands have arrived in the promising Vietnamese market.
As the fast-fashion trend has been spiralling down in the global market, H&M still accelerates its presence in Southeast Asia, especially Vietnam.
Selling nearly all of its shares to its Japanese partner, MTV Global Fashion, which owns the Vascara brand, has been added to the list of local companies bought by foreign firms.
UNIQLO, the Japanese global apparel retailer, today officially announced its launching date in Vietnam. The brand’s first store, UNIQLO Dong Khoi, will open on December 6 in Ho Chi Minh City.
Despite being the second-largest polluters in the world, fast-fashion brands are growing at a tremendous pace in Vietnam.
Vietnam is expected to see a fierce confrontation between fashion brands from Europe and from Japan.
In January, Vietnam’s fashion industry received good news: the collections of designers Cong Tri and Phuong My would appear during New York Fashion Week, one of the four most influential fashion week events in the world.
VietNamNet Bridge - Meeting barriers in export markets, Vietnamese garment companies are trying to return to the domestic market.
VietNamNet Bridge - The Spanish fashion giant, Zara, has been in Vietnam for two years, and the Swedish company H&M for one year.
H&M has been open in Vietnam for one year, while Zara celebrated its two-year presence in Vietnam recently. Both fashion brands have prospered here thanks to the number of Vietnamese fashion fans.
VietNamNet Bridge - The appearance of foreign fast-fashion brands in Vietnam has dealt a strong blow to Vietnamese brands.
Swedish fashion giant H&M - the world's second-biggest clothing chain - has posted a 61% profit fall for the three months to February amid weak sales.
Fashion, fast food, beverage, cinema and retail brands have been opening more and more stores in Vietnam as the retail sector has seen fast growth in recent years.
In the last 10 years, a number of fashion brands have quietly stopped operation or scaled down their business, while a few big enterprises have struggled in the home market amid the arrival of many foreign brands.
VietNamNet Bridge - More than 200 foreign fashion brands are present in Vietnam, providing a wide range of products from mid- to high-end products, which hold 60 percent of the market share, according to the Vietnam Retailers Association.
Vietnamese fashion and garment companies have usually focused on outsourcing and have ignored branding. But the business strategy will no longer fit the new circumstances as more and more foreign brands have landed in Vietnam.