Vietnam Business Channel

H&M Vietnam Will Open Third Store

H&M Vietnam announced that it plans to open its third store in Vietnam, at Vincom Mega Mall Thao Dien, located in Ho Chi Minh City’s upscale district 2 on January 27 and will provide limited-edition gifts to its first customers.

H&M arrived in Vietnam in September 2017, launching its “flagship store” at Vincom Dong Khoi Shopping Mall in Ho Chi Minh City. The store covers 2,000 square meters of space on two levels and presents H&M’s latest fashion and accessories for men, women, teenagers and kids.

The store opening included a pre-opening VIP party with DJ’s, champagne and canapés for selected consumers and media. On the grand opening day, More than 4,000 people queued up for the grand opening and a limited edition H&M Vietnam tote bag with H&M goodies was handed out to the first 1,000 customers. As was expected, the grand opening was covered extensively in broadcast and print media.

The second H& Vietnam store was opened in November 2017 in the Vincom Mega Mall Royal City Hanoi, and like the HCMC store, generated considerable consumer and media interest.

Vietnam was one of five new markets for H&M in 2017, which also marked the company’s 70th year in business. H&M Vietnam has said that it plans to open additional stores across Vietnam during the next two years and is actively looking at suitable retail locations in Vietnam’s major cities.

When H&M opened its HCMC store in September 2017, Fredrik Famm, Country Manager for H&M in Southeast Asia said “This is the best time to be in Vietnam - it’s H&M’s 68th and a highly-anticipated market with so much potential in retail and we hope to exceed customer expectations with our varied range of inspiring fashion that lets them explore and develop their personal style.”

While outside of the city center, H&M’s new store at Vincom Thao Dien is expected to be very popular with young upscale consumers who live in district 2 as well as consumers in the adjacent district 9 and Thu Duc areas. Vincom Thao Dien has a number of local brands and a few smaller international brands in its shopping center and H&M is expected to be a cornerstone tenant that will lift sales to all of the stores located there.