After three years of presence in Hanoi, Japanese fashion brand Uniqlo opened another three stores for the autumn/winter season of 2022. Kicking off the campaign, Uniqlo opened its fifth store overall in Vincom Centre Ba Trieu, bringing the total number of its stores to 15 nationwide.
Covering an area of 2,000 square metres across three floors, the store conveys a contemporary spirit in line with the lifestyles and living pace of Hanoians, from interior decoration to product display.
Osamu Ikezoe, general director of Uniqlo Vietnam, said that the company gives top priority to meeting the needs of customers with the strategy of opening stores in the right locations, and in seasons that customers desire the most.
Competitors like Zara, H&M, and Mango often also appear in places like Vincom Centre Ba Trieu despite having the same target customers and high traffic of shoppers.
Luxury retail spaces have become increasingly scarce in terms of both quantity and quality in the major localities in Vietnam. As a result, acquiring premises in these strategic locations distinguishes world-famous fashion brands. It took Uniqlo two years to secure the location for its first store at Parkson Saigontourist Plaza, in Ho Chi Minh City’s District 1. The delay in the grand opening was partly because rental prices were skyrocketing in Vietnam.
Along with Uniqlo, other major retail chains like Muji, Haidilao, and Central Group have ramped up their expansion in Vietnam.
According to high-end premise brokers, foreign retailers remain upbeat about the potential of Vietnam’s real estate market in 2023. Some luxurious and high-end brands like Berluti, Cartier, Victoria’s Secret, and Urban Revivo have also penetrated the market.
However, the most enduring challenge for foreign retailers is to find premises in a suitable location; it also takes time to apply for licences. In addition, amid current