CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Zara, H&M report high revenues in Vietnam
Ngoc Tung 18:24, 2018/08/20
For a population of nearly 100 million, of which the majority is at young age and with a steady growth of income per capita, Vietnam is considered potential market for fashion retailers.
In the first six months of 2018, revenue in Vietnam of the Indonesian retail operator Mitra Adiperkasa, - the operator of Zara retail stores in Vietnam, reached VND950 billion (US$40.87 million), doubling the figure recorded in the same period of last year, according to the company's financial statement.
 
Illustrative photo.
Illustrative photo.
Generating revenue of over US$40 million from the two Zara stores in Hanoi and Ho Chi Minh City, Vietnam has become the second largest market of Mitra, only behind its base in Indonesia. 

In addition to Zara, Mitra also franchises other international brands such as Starbucks, Burger King and Topman in Indonesia. 

Meanwhile, H&M with four stores posted revenue of VND322 billion (US$13.85 million) in the January - June period, of which, the fast fashion brand reported revenue of VND175 billion (US$7.52 million) in the second quarter, up 16% month-on-month, reported The Leader newspaper. 

For a population of nearly 100 million, of which the majority is at young age with a steady growth of income per capita, Vietnam is considered potential market for fashion retailers. In addition to Zara and H&M, other brands such as Uniqlo and Forever 21 are also planning to enter the Vietnam's fashion market. 

Mitra opened its first Zara store outside Indonesia in Ho Chi Minh City in September 2016, three months later, its second store was launched in Hanoi. 

By the end of 2017, H&M marked its entrance into the Vietnamese market with the opening of its first store in Ho Chi Minh City. The brand currently has four stores in the countries, of which two stores are in Ho Chi Minh City and two in Hanoi. 
Comments
Other news
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.
21:14, 2024/10/31
Vietnam, Brazil: Building bridges through shared history and new partnerships
Vietnam and Brazil are forging a future of mutual development, bridging continents through their shared history and new partnerships.
16:54, 2024/10/29
Hanoi to attract tourists by showcasing local specialties at wholesale markets
Hanoi aims to enhance supervision of food safety and traceability, along with promoting cashless transactions.
16:28, 2024/10/27
National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
This year's event will focus on celebrating and raising the status of Vietnamese products, according to the Ministry of Industry and Trade.
18:39, 2024/10/21
Vietnamese goods in rising demand among Hanoi residents
The domestic market, estimated to be worth US$180 billion and projected to grow to US$350 billion by 2025, presents an opportunity for Vietnamese goods to gain a foothold domestically.