Japan’s casual clothing group Stripe International has acquired Vietnamese fashion retailer Global Fashion, which owns women’s accessories brand Vascara, marking its second M&A (merger and acquisition) deal in the Southeast Asian country in two years. The acquisition was completed earlier this month, Global Fashion said in an announcement on Monday, without disclosing the value of the deal or the stakes now owned by the Japanese company. Harigae Tsutomu, general director and CEO of Stripe Saigon, a Vietnamese subsidiary of Stripe International, hailed Vascara as a "brand that has great potential for development." Stripe International, with experience and technology accumulated from many markets around the world, will help the brand’s development, expand its system of stores, and serve millions of Vietnamese consumers, Tsutomu added. Following the deal, Global Fashion has transferred all of its 134 Vascara outlets across Vietnam to Stripe International. The … [Read more...] about Vietnamese women’s accessories brand Vascara acquired by Japan’s Stripe International
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Bidoup Nui Ba could be integral for the Central Highlands The region is one of six major economic zones in Vietnam, including the five provinces of Kon Tum, Gia Lai, Dak Lak, Dak Nong, and Lam Dong, covering a natural area of 54,474 square kilometres and accounting for 16.8 per cent of the nation’s natural area. The region is famous for its reserves of mineral resources and industrial cultivation of crops currently accounting for a large proportion of Vietnam’s agricultural exports such as coffee, rubber trees, and pepper. However the tourism sector, another precious resource for the Central Highlands, has not yet been fully tapped into. With diverse terrain from high mountains to large valleys, the region enjoys a cool climate all year round, has many attractive natural landscapes with high biological value, and is also home to 47 ethnic minority groups with unique local cultures. In 2017, provinces in the region attracted around 1.9 million visitors, an increase of 9 … [Read more...] about Brand-building in Central Highlands
All banks in the country have to adopt the standard version of Basel II and then switch to the advanced version by 2025. — Photo baokiemtoannhanuoc.vn In 2016 the State Bank set a deadline of January 1, 2020, for 17 banks to meet Basel II norms under a national banking sector development strategy. Also, by 2025 all banks in the country have to adopt the standard version of Basel II and then switch to the advanced version. Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. It comprises minimum capital requirements, supervisory review and market discipline to enhance competition and transparency in the banking system and make banks more resistant to market changes. Basel II requires banks to have a capital adequacy ratio (CAR) of at least 8 per cent. However, the SBV has allowed 10 banks to adopt Basel II standards earlier than the 2020 deadline. They are Joint Stock … [Read more...] about Basel II deadline rapidly approaching, are banks on course to meet norms?
Miss Thuy Dung, together with many models and businesswomen, participated in the catwalk session. (Source: VNA) HCM City (VNS/VNA) – The Institute of Vietnamese Costumes has officially been launched with a mission to honour and preserve the beauty of Vietnamese clothing. The opening ceremony, held at the HCM City Museum, was attended by many cultural experts, lecturers, businesspeople, and popular artists. According to Prof. Nguyen Khac Thuan, head of the institute, the institute’s establishment aims to promote traditional clothing via many activities including compiling, translating and collecting in-depth documents on Vietnamese costumes and ethnic minorities, and restoring and developing innovative outfits based on traditional values that are suited to modern life. The institute will also work with other cultural institutes and universities with fashion faculties and invite their students to intern and do research at the … [Read more...] about Institute of Vietnamese Costumes officially makes debut
Nguyen Dieu Cam, general director at T&A Ogilvy and director of Ogilvy Consulting Vietnam What role does communication play in building a successful financial brand? We can all see that competition is fierce within the financial sector in recent years. Various new services are launched to meet the demand of customers, who are getting more and more sophisticated. Financial services are no longer a playground for traditional banking giants but a battlefield for all, with the rapid entrance of newcomers. During only four years, from 2014 to 2018, the number of traditional banks in Vietnam has increased by about 43 per cent, while new financial organisations also made an “explosion” with incredible growth. However, there is no substantial differentiation among their offered products or services, while no banking and finance organisation is powerful enough to dominate the overall market. This existing landscape results in a more intensive battle for market leaders. In a … [Read more...] about Driving massive business growth through financial sector communication