\n| Design<\/td>\n | Supervised by Milan-based designer Giovanni Bressana, based on red<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nThe positioning of IPP Group \/ DAFC<\/h3>\nIPP Group is a leading company handling 70% of Vietnam's luxury brand distribution, with over 100 overseas brands under its wing. Major luxury names such as Burberry, Chanel, Calvin Klein, Salvatore Ferragamo, and Herm\u00e8s are developed via DAFC and ACFC.<\/p>\n Background | why Vietnam's luxury market is hot now<\/h2>\nWe organize this along three axes: Vietnam's disposable income, wealthy population, and consumption trends.<\/p>\n The trend of Vietnam's wealthy population<\/h3>\n\n\n\n| Year<\/th>\n | Wealthy (HNWI) population<\/th>\n | GDP growth rate<\/th>\n | Luxury goods market size<\/th>\n<\/tr>\n<\/thead>\n | \n\n| 2020<\/td>\n | About 14,800 people<\/td>\n | 2.9%<\/td>\n | About 950 million USD<\/td>\n<\/tr>\n | \n| 2023<\/td>\n | About 19,600 people<\/td>\n | 5.0%<\/td>\n | About 1.68 billion USD<\/td>\n<\/tr>\n | \n| 2025<\/td>\n | About 24,200 people<\/td>\n | 6.8%<\/td>\n | About 2.84 billion USD<\/td>\n<\/tr>\n | \n| 2026 (forecast)<\/td>\n | About 25,812 people<\/td>\n | 6.5%<\/td>\n | About 3.42 billion USD<\/td>\n<\/tr>\n | \n| 2031 (forecast)<\/td>\n | About 42,000 people<\/td>\n | 6.2%<\/td>\n | About 6.36 billion USD<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Sources: Mordor Intelligence, Knight Frank Wealth Report, Vietnam Ministry of Finance<\/p>\n Why Ho Chi Minh City accounts for 37.65% of the market<\/h3>\nHo Chi Minh City is home to 7,200 wealthy individuals and accounts for 37.65% of Vietnam's luxury goods consumption (as of 2025). On Nguyen Hue Street, Dong Khoi Street, and Le Loi Street around the Rex Hotel, a \"Saigon luxury street\" where Herm\u00e8s, Louis Vuitton, Chanel, Cartier, Tiffany, and others cluster has formed.<\/p>\n Data table | the state of luxury brands' expansion in Vietnam<\/h2>\nWe organize the year of the first Vietnam store opening and the number of stores for major overseas brands.<\/p>\n \n\n\n| Brand<\/th>\n | Year of first Vietnam store<\/th>\n | Current number of stores<\/th>\n | Main locations<\/th>\n | Vietnam distribution handler<\/th>\n<\/tr>\n<\/thead>\n | \n\n| Louis Vuitton<\/td>\n | 1997<\/td>\n | 4 stores<\/td>\n | HCM\/HN<\/td>\n | LVMH directly operated<\/td>\n<\/tr>\n | \n| Herm\u00e8s<\/td>\n | 2008<\/td>\n | 2 stores<\/td>\n | HCM\/HN<\/td>\n | DAFC<\/td>\n<\/tr>\n | \n| Chanel<\/td>\n | 2008<\/td>\n | 3 stores<\/td>\n | HCM\/HN<\/td>\n | DAFC<\/td>\n<\/tr>\n | \n| Burberry<\/td>\n | 2011<\/td>\n | 5 outlets<\/td>\n | HCM\/HN\/DN<\/td>\n | ACFC<\/td>\n<\/tr>\n | \n| Cartier<\/td>\n | 2012<\/td>\n | 1 store<\/td>\n | HCM<\/td>\n | DAFC<\/td>\n<\/tr>\n | \n| Dolce & Gabbana<\/td>\n | 2017 (flagship)<\/td>\n | 2 stores<\/td>\n | HCM<\/td>\n | DAFC<\/td>\n<\/tr>\n | \n| Bottega Veneta<\/td>\n | 2019<\/td>\n | 1 store<\/td>\n | HCM<\/td>\n | DAFC<\/td>\n<\/tr>\n | \n| Tiffany & Co.<\/td>\n | 2020<\/td>\n | 1 store<\/td>\n | HCM<\/td>\n | DAFC<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n A feature of Vietnam's luxury distribution is that IPP Group (DAFC and ACFC) functions as a de facto monopolistic agent. Unlike the Japanese market, it has a structure with a high degree of brand owners' dependence on local partners.<\/p>\n Price range (reference, USD\/JPY conversion)<\/h3>\n\n\n\n| Product category<\/th>\n | Vietnam retail price guide<\/th>\n | JPY conversion (1 USD = 147 yen)<\/th>\n<\/tr>\n<\/thead>\n | \n\n| Dolce & Gabbana handbag<\/td>\n | 1,800\u301c3,500USD<\/td>\n | About 265,000 to 515,000 yen<\/td>\n<\/tr>\n | \n| Same, shoes<\/td>\n | 650\u301c1,200USD<\/td>\n | About 96,000 to 176,000 yen<\/td>\n<\/tr>\n | \n| Same, ready-to-wear (dress)<\/td>\n | 1,500\u301c4,200USD<\/td>\n | About 221,000 to 617,000 yen<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Vietnam retail prices are 15 to 25% higher than in Europe (the home country) and 10 to 15% higher than Japanese retail prices. The wealthy still have a strong tendency to bulk-buy in Hong Kong and Singapore, and local retail largely functions as a \"place for brand experience.\"<\/p>\n Local reactions | voices of Vietnam's wealthy and industry insiders<\/h2>\nWe extract three, paraphrased and anonymous, from Vietnamese-language social media and fashion-media comments after the opening.<\/p>\n Comment 1 (woman in her 30s, entrepreneur)<\/h3>\n\"Herm\u00e8s and Louis Vuitton line up on Dong Khoi Street, but Dolce & Gabbana was a bit far away and hard to visit. By entering the Rex Hotel arcade, it became possible to drop by as part of a city tour. The new Sicilian-print dress sold out immediately.\"<\/p>\n Comment 2 (man in his 40s, Vietnamese local wealthy)<\/h3>\n\"I used to buy in Bangkok or Hong Kong, but if I buy at a Vietnam store, the tax-refund application is completed domestically, saving time. If the price difference is around 15%, I'll buy domestically.\"<\/p>\n Comment 3 (industry insider, editor of a Ho Chi Minh City fashion magazine)<\/h3>\n\"DAFC is bringing in three new brands this year alone. The purchasing power of Vietnam's wealthy is growing fastest in Southeast Asia, and European brands are also speeding up their test marketing.\"<\/p>\n Impact on Japanese readers | axes of judgment when considering entering Vietnam<\/h2>\nWhen Japanese companies enter Vietnam's luxury goods market, there are five points of discussion.<\/p>\n 1. The importance of partner selection<\/h3>\n\n\n\n| Point of discussion<\/th>\n | Axis of judgment<\/th>\n<\/tr>\n<\/thead>\n | \n\n| Direct operation vs. agent<\/td>\n | With a wealthy population on the scale of 25,000, the break-even point for direct operation is high<\/td>\n<\/tr>\n | \n| Is IPP Group the only choice<\/td>\n | Japanese brands can also opt for Mitsui & Co. or Sumitomo Corporation routes<\/td>\n<\/tr>\n | \n| Location negotiation<\/td>\n | The Rex Hotel, Vincom Center, and Takashimaya are the three big candidates<\/td>\n<\/tr>\n | \n| Tariffs<\/td>\n | For luxury goods, tariffs of 20-30% plus VAT 10% plus special consumption tax 15% are the basics<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n2. Cases of Japanese brands entering Vietnam<\/h3>\n\n- Shiseido<\/strong>: Developing mainly at the Takashimaya Ho Chi Minh City store, with SK-II and Cl\u00e9 de Peau Beaut\u00e9 doing well<\/li>\n
- Issey Miyake (ISSEY MIYAKE)<\/strong>: Boutiques in Hanoi and Ho Chi Minh City, with tropical-material limited models<\/li>\n
- Cosme de Beaut\u00e9<\/strong>: Flagship store near the Rex Hotel arcade<\/li>\n<\/ul>\n
3. Points to note in designing customer touchpoints<\/h3>\nSince Vietnam's wealthy use \"Zalo\" and \"Facebook\" more than a \"LINE-like SNS,\" the combination of a Japanese-style store experience plus digital customer service is important. At the [service] operated by Agriture,Food OEM Gateway<\/a>we provide information for food and lifestyle makers considering such entry into the Vietnamese market.<\/p>\nIndustry ripple effect | the trend of the Rex Hotel becoming a \"luxury hub\"<\/h2>\nThe Rex Hotel is a symbol of Saigon colonial architecture opened in 1959, and during the Vietnam War it was a main lodging for the foreign press corps. Located at the intersection of Nguyen Hue Street and Le Loi Street in District 1, it is an icon hotel now used for government hospitality too.<\/p>\n Current Rex Hotel arcade tenants (as of April 2026)<\/h3>\n \n\n\n| Brand<\/th>\n | Format<\/th>\n | Floor<\/th>\n<\/tr>\n<\/thead>\n | \n\n| Dolce & Gabbana (new)<\/td>\n | Fashion<\/td>\n | Arcade 5-6<\/td>\n<\/tr>\n | \n| Cartier<\/td>\n | Jewelry<\/td>\n | Arcade 3<\/td>\n<\/tr>\n | \n| Versace<\/td>\n | Fashion<\/td>\n | Arcade 4<\/td>\n<\/tr>\n | \n| Salvatore Ferragamo<\/td>\n | Leather<\/td>\n | Arcade 7<\/td>\n<\/tr>\n | \n| Vietnamese high-end lacquerware<\/td>\n | Crafts<\/td>\n | Arcade 10-12<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n For the tourist route of Ho Chi Minh City's luxury street, seethe sightseeing guide to District 1 of Ho Chi Minh City<\/a>is also a helpful reference.<\/p>\nPractical information table | Rex Hotel D&G visit guide<\/h2>\n \n\n\n| Item<\/th>\n | Details<\/th>\n<\/tr>\n<\/thead>\n | \n\n| Name<\/td>\n | Dolce & Gabbana Rex Hotel Pop-up<\/td>\n<\/tr>\n | \n| Address<\/td>\n | 141 Nguyen Hue Blvd, Ben Nghe Ward, District 1, HCMC<\/td>\n<\/tr>\n | \n| Hours<\/td>\n | 9:30-22:00 (open daily)<\/td>\n<\/tr>\n | \n| Access<\/td>\n | About 5 minutes' walk from Ben Thanh Market<\/td>\n<\/tr>\n | \n| Parking<\/td>\n | Rex Hotel underground parking available (VIP card required)<\/td>\n<\/tr>\n | \n| Payment<\/td>\n | Cards, cash, and Apple Pay accepted<\/td>\n<\/tr>\n | \n| Tax-refund procedure<\/td>\n | VAT refund receivable at the international airport by presenting your passport<\/td>\n<\/tr>\n | \n| Dress code<\/td>\n | Smart casual recommended<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nSummary | Vietnam's wealthy market enters the \"real-demand phase\"<\/h2>\n\u30c9\u30eb\u30c1\u30a7\uff06\u30ac\u30c3\u30d0\u30fc\u30ca\u306e\u30ec\u30c3\u30af\u30b9\u30db\u30c6\u30eb \u30dd\u30c3\u30d7\u30a2\u30c3\u30d7\u306f\u3001\u5358\u306a\u308b\u65b0\u5e97\u30aa\u30fc\u30d7\u30f3\u3067\u306f\u306a\u304f\u300c\u30d9\u30c8\u30ca\u30e0\u5bcc\u88d5\u5c64\u304c\u56fd\u5185\u3067\u30e9\u30b0\u30b8\u30e5\u30a2\u30ea\u30fc\u3092\u8cb7\u3046\u6642\u4ee3\u300d\u306e\u8c61\u5fb4\u3067\u3059\u3002\u5bcc\u88d5\u5c64\u4eba\u53e325,812\u4eba\u30fb\u5e02\u5834\u898f\u6a2134.2\u5104USD\uff08\u7d045,027\u5104\u5186\uff09\u306e\u5e02\u5834\u306f\u3001\u30b7\u30f3\u30ac\u30dd\u30fc\u30eb\u30fb\u30bf\u30a4\u306b\u6b21\u3050\u6771\u5357\u30a2\u30b8\u30a2\u7b2c3\u4f4d\u306e\u898f\u6a21\u306b\u80b2\u3061\u3064\u3064\u3042\u308a\u307e\u3059\u3002<\/p>\n The three actions for Japanese companies entering Vietnam are as follows.<\/p>\n \n- Monitor the latest tenant trends of Ho Chi Minh City District 1's major malls (Takashimaya, Vincom Center, Rex Hotel) each quarter<\/li>\n
- Keep distribution partners other than IPP Group (Mitsui & Co. and Sumitomo Corporation affiliates) in view too, and compare multiple channels<\/li>\n
- Targeting domestic-consumption-type wealthy customers, start Vietnam incorporation and local marketing early<\/li>\n<\/ol>\n
For the Vietnamese market, a combination of \"cross-border e-commerce plus a first store in Ho Chi Minh City\" is the optimal solution for now. The speed of the wealthy's expansion rivals Japan's growth in the late 1980s, and judgment that doesn't miss the entry timing is required.<\/p>\n References and sources<\/h3>\n\n- Retail News Asia\u300cDolce & Gabbana Pop-Up Launches in Vietnam: Explore Now!\u300d
\n https:\/\/www.retailnews.asia\/dolce-gabbana-pop-opens-vietnam\/<\/li>\n - CPP-Luxury\u300cDolce & Gabbana opens in Ho Chi Minh City its first store in Vietnam\u300d<\/li>\n
- Mordor Intelligence\u300cVietnam Luxury Residential Real Estate Market Report 2026-2031\u300d<\/li>\n
- Knight Frank Wealth Report 2025<\/li>\n
- IPP Group \/ DAFC official release<\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"
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