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Nov. 14, 2024
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Can Vietnam become the next China?

January 6, 2022

The luxury industry has pursued every opportunity in China’s high-growth market. Yet, thus far, it has ignored this other market in the Asia-Pacific region. Image credit: Shutterstock The luxury industry has pursued every opportunity in China’s high-growth market. Yet, thus far, it has ignored this other market in the Asia-Pacific region. Image credit: Shutterstock

 

By Adina-Laura Achim

The luxury industry has pursued every opportunity in high-growth markets such as Greater China, Japan, Singapore and South Korea. But it failed to use the same razor-sharp focus to conquer other emerging markets in the region. Take, for example, Vietnam — a country where domestic demand for luxury goods has skyrocketed in the past few years.

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