VietNamNet Bridge – The Vietnamese branded goods market is believed to be controlled by the four “big guys.” Johnathan Hanh Nguyen proves to be the biggest trader who controls 70 percent of the market.
In early 2011, the businessman invested $40 million on Rex Arcade located at Rex Hotel, known as a luxury goods center. All the items displayed at Rex Arcade are branded goods, priced at between several hundreds to tens of thousands of dollars.
The experiences in trading duty free goods over the last 20 years in Vietnam might be a great advantage which helped IPP access the French biggest luxury goods group–LVMH to obtain the right to distribute the products with well-known brands such as Chanel, Burbery, Cartier or Rolex. Analysts have noted that 16 out of the 48 brands LVMH owns have been present in Vietnam through IPP.
The businessman has been developing the distribution network in the big cities with the purchasing power high enough to ensure the average growth rate of 15-20 percent.
Besides Rex Arcade, IPP also has shopping malls at Vincom tower, Eden and Trang Tien in Hanoi, in which he spent huge investment worth several trillions of dong.
Doan Viet Dai Tu, Chair of Openasia
He has been known as the biggest rival for Johnathan Hanh Nguyen. He has also been famous as the person who has brought Starbucks to Vietnam. His Openasia Group has become better known in the field of luxury goods distribution, even though its core business is providing the investment banking and finance consultancy services.
Openasia imports and distributes branded goods directly to consumers through its retail chain. Dai Tu reportedly can spend $2-4 million or $6 million as the initial investment on a retail shop.
The group has had 9 branded goods shops in Hanoi and HCM City with the estimated investment capital of $70 million, through which it distributes the products of 7 brands.
Do Ngoc Minh, son-in-law of Tuan Chau Island’s King
Minh, who has two master degrees in economics, a senior executive of a Singaporean investment bank in Vietnam, is the owner of DX Fashion, a branded goods trade company. It has become the partner of many international fashion brands such as Canali, Escada, Etro, Van Laack, Hiltl, the products of which have been distributed through Minh’s chain of 7 shops in Hanoi and HCM City.
In 2011, Minh opened one more luxury goods distribution shop, LUALA, located on the most expensive street in Hanoi. LUALA manages Milano which distributes Dolce Gabbana’s Roberto Cavalli’s products.
Minh is the only son of former Agribank’s Chair Do Tat Ngoc and the son-in-law of Dao Hong Tuyen, called the Tuan Chau Island’s King.
Ly Nha Ky, the pretty woman
On March 20, Ly Nha Ky, a well-known actress, a celebrity in the Vietnamese showbiz, a once tourism ambassador, had a meeting with the press to introduce her fashion showroom, which was then followed by a noisy opening ceremony.
With the total area of 600 square meters, the 3-storey shop is located on the most expensive street in HCM City – Dong Khoi Road in district 1.
The pretty woman declined to reveal the figure about the investment capital, but she said everything at the showroom was imported. Many items displayed here were bought by Ky from the world’s leading craftsmen.
The showroom displays the products of the world’s 20 fashion brands such as Georges Hobeika, Alexis Mabille, Richard Nicoll, Jaonathan Saunders, Alberta Ferretti.
Nguoi Dua Tin