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Nov. 22, 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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  1. Luxury Unfiltered: Hermès and Patek Philippe prove trust is the true luxury
  2. ‘Copy Nothing’ campaign defines next era at Jaguar
  3. Erewhon to pilot pop-up juice bar in Las Vegas during F1 weekend
  4. Audemars Piguet unveils collaboration with artist Kaws
  5. Dolce & Gabbana, Skims release limited-edition collection
  6. Pomellato reveals exclusive residency at Bergdorf Goodman
  7. Luxury Unfiltered: Burberry is on the brink of self-destruction as it taps a new CEO
  8. Luxury brands losing ground with younger audiences: Bain
  9. Gucci channels spirit of giving
  10. Kering launches Generation Award X Jewelry to support sustainable design
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