Top Retail Companies in Vietnam

The Retail Industry in Vietnam has been a significant contributor to the country's economic growth and development, providing essential goods and services to the population. The industry has experienced significant growth over the past decade, driven by the government's investment in infrastructure and policies to promote domestic consumption. In this article, we will examine the key statistics from 2022, the factors contributing to the industry's growth and success, industry growth and comparison to previous years, key trends, challenges, and future outlook.

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CompanyHeadcountContactDescriptionDecision Maker
CARTIER8,895 +65 6738 8975

A French luxury Maison, open-minded and curious about the world, Cartier designs timeless creations and finds beauty wherever it may lie. In tune and engaged with its time and constantly enriching its legacy, Cartier continues to expand the limits of creativity and enhance beauty with its savoir-faire.Founded during the era of great inventions, Cartier has always been inspired by the progression of ideas and artistic movements. The Maison continues this progression today, all the while creating an expression of its own.Love, Trinity, Juste un Clou, Tank, Panthère, Santos… From high and fine jewelry to watchmaking, from leather goods to fragrances, eyewear and objects, Cartier reveals beauty in every creation, with just the right touch of panache and the secret signature of its unique expertise.

AL-FUTTAIM15,233 +65 6746 6555

As a family-owned business, we take a long-term view in everything we do, because we believe that sustainable success requires uncompromising commitment.That’s the reason why some of the world’s most admired and innovative brands from the USA, UK, Japan, Sweden, France, Germany and Switzerland – from sectors as diverse with each other as automotive, retail, real estate and finance – trust Al-Futtaim with their own reputation and commercial success since the 1930s.And through our inherent customer-centric approach and relentless pursuit of perfection, we add significant value – connecting consumers in 20+ markets with these brands in contemporary, powerful, meaningful and emotional ways that create longstanding relationships based on loyalty and mutual trust.Our decades-long experience allows us to embrace and foster new, forward-thinking business practices and seamlessly blend those into our corporate DNA and people-first philosophy whilst upholding the value of integrity within a spirit of collaboration.For a career with the Al-Futtaim Group please go to our careers site at www.afuturewithus.comBest Employer Brand on LinkedIn above 4000 employees: UAE- Al-Futtaim. (https://wam.ae/en/details/1395302805731)

AUDEMARS PIGUET1,794 +65 6933 9020

Audemars Piguet is the oldest fine watchmaking manufacturer still in the hands of its founding families (Audemars and Piguet). Based in Le Brassus since 1875, the company has nurtured generations of talented craftspeople who have continuously developed new skills and techniques, broadening their savoir-faire to set rule-breaking trends. In the Vallée de Joux, at the heart of the Swiss Jura, Audemars Piguet has created numerous masterpieces, testament to the Manufacture’s ancestral savoir-faire and forward-thinking spirit. Sharing its passion and savoir-faire with watch enthusiasts worldwide through the language of emotions, Audemars Piguet has established enriching exchanges among fields of creative practices and fostered an inspired community. Born in Le Brassus, raised around the world.

NORBREEZE GROUP63 +65 6221 2126

Founded in 2004 and headquartered in Singapore, Norbreeze Group is co-owned and operated by Danish duo Anders Peter Juel Sauerberg and Anne Trads Juel Sauerberg. Since then, the company introduced and represents AUGUST BERG, BERING, COCOMI, OLIVIA BURTON and TIMBERLAND TIMEPIECES in Singapore. The group also has presence in Malaysia, Hong Kong, Indonesia, Thailand, Vietnam and Philippines through shop in shops, concept stores and in-flight shopping platforms.Instilled with a deep passion for Danish design, the couple established the company with a focus to distribute, market, and build international lifestyle brands that share a timeless design philosophy with a consistent pursuit of functionalism and quality.The Group has successfully built international brands across key Asia cities and has more than 40 direct and indirect operated stores. The Group distributes to more than 150 stores throughout Asia. For more information, please visit www.norbreeze.com.

TIFFANY & CO.10,003 +65 800 518 5555

In 1837 Charles Lewis Tiffany founded his company in New York City where his store was soon acclaimed as the palace of jewels for its exceptional gemstones. Since then TIFFANY & CO. has become synonymous with elegance, innovative design, fine craftsmanship and creative excellence. During the 20th century fame thrived worldwide with store network expansion and continuous cultural relevance, as exemplified by Truman Capote’s Breakfast at Tiffany’s and the film starring Audrey Hepburn.Today, with more than 13,000 employees, TIFFANY & CO. and its subsidiaries design, manufacture and market jewelry, watches and luxury accessories – including more than 5,000 skilled artisans who cut diamonds and craft jewelry in the Company’s workshops, realizing its commitment to superlative quality.The Company operates more than 300 TIFFANY & CO. retail stores worldwide as part of its omni-channel approach. To learn more about TIFFANY & CO. as well as its commitment to sustainability, please visit tiffany.com.

NEW BALANCE7,170 +65 3138 5133

In 1906, New Balance began as a humble one-man operation founded on the belief that “we were born to move,” and has since grown into an international corporation, selling footwear and apparel in over 120 countries and employing over 8,000 associates worldwide. Our mission has always been to support the performance of athletes, and with an unparalleled focus on quality and craftsmanship, we’ve come to set the standard for comfort and fit in an industry all too often driven by hype. We’re incredibly proud of our history and how far we’ve come, but companies don’t thrive for over a century by being content. Whether it’s setting a new style trend, retooling our manufacturing process, or building a new state-of-the-art headquarters, we pursue innovation with a spirit of fearless independence. As the only privately held major footwear company in the world, we’re free to do things our way, pushing limits and testing boundaries as we continually reimagine what could be. After all, the status quo isn’t static.But doing things our way wouldn’t mean much if we weren’t also doing them the right way. We invest in our associates as they invest in us, and as we move forward, we make a point of giving back, supporting communities around us through ambitious philanthropic efforts and involvement programs. We are a company that cares, and our culture is one of integrity and teamwork where together we become greater than the sum of our parts.

NU SKIN4,171 +65 6837 3363

Nu Skin Enterprises, Inc. (NYSE: NUS) is a leading beauty and wellness company, powered by a dynamic affiliate opportunity platform. The company helps people live, look and feel their best with products that combine the best of science, technology and nature. Backed by more than 35 years of scientific research, Nu Skin develops innovative products including Nu Skin® personal care, Pharmanex® nutrition and the ageLOC® anti-aging brand which includes an award-winning line of beauty device systems. Nu Skin operates in nearly 50 markets worldwide in the Americas, Asia, Europe, Africa and the Pacific. Rhyz Inc. is the company’s strategic investment arm that includes a collection of technology and manufacturing companies to support growth in the core Nu Skin business. Nu Skin is committed to sustainability, including global initiatives such as transitioning to reduced and sustainable packaging for all products by 2030. The Nu Skin Force for Good Foundation also strives to improve children’s health, education and economic circumstances throughout the world. For more information, visit nuskin.com.

PANDORA14,479 +65 6804 6481

Pandora is the world’s largest jewellery brand. The company designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices Pandora jewellery is sold in more than 100 countries through more than 6,500 points of sale, including more than 2,500 concept stores.Headquartered in Copenhagen, Denmark, Pandora employs 32,000 people worldwide and crafts its jewellery at two LEED-certified facilities in Thailand using mainly recycled silver and gold. Pandora is committed to leadership in sustainability and has set science-based targets to reduce greenhouse gas emissions by 50% across its own operations and value chain by 2030. The company is listed on the Nasdaq Copenhagen stock exchange and generated revenue of DKK 26.5 billion (EUR 3.6 billion) in 2022.See all our products and collections on pandora.netVisit our guidelines for this channel, and what types of post we accept here: https://pandoragroup.com/media/Corporate-social-media-principles

ROLEX6,368 +65 6737 9033

The leading brand in Swiss luxury watches, Rolex enjoys an unrivalled reputation for excellence, performance and prestige. Pioneer of the wristwatch since 1905, the brand is at the origin of landmark innovations in watchmaking, including the first waterproof wristwatch - the Oyster - and the Perpetual rotor self-winding mechanism.Its watches have accompanied explorers and achievers around the world, from the top of the highest mountains to the deepest reaches of the ocean.Rolex is also actively involved in supporting the arts, sports, exploration, the spirit of enterprise through a broad palette of sponsoring activities and philanthropic programmes.

VALIRAM1,140 +65 6723 8088

Valiram was established in 1935 in Kuala Lumpur, Malaysia, originally specialising in the textile trade. Today, Valiram is Southeast Asia’s leading luxury goods and 360° retail specialist with presence in Malaysia, Singapore, Indonesia, Australia, the Philippines, Thailand, Russia, Macau and Vietnam. Operating more than 350 stores, a number which continues to grow, the group represents in excess of 200 brands across various categories, from fashion and accessories, timepieces and jewellery, perfume and cosmetics to confectionery and dining concepts. Its portfolio comprises internationally renowned brands such as Bath & Body Works, Kate Spade New York, Michael Kors, Tumi and Victoria’s Secret, as well as original and innovative retail concepts Luxury Fashion, Swiss Watch Gallery, Flying Emporium, Vie Beaute and Flow. Creating world-class retail environments that offer compelling and luxurious shopping experiences is the hallmark of the group, and it will continue to bring the most desirable international brands and cutting-edge concepts to the region. The group is headquartered in Kuala Lumpur, Malaysia. Discover more at valiram.com or join in the conversation on Facebook and Instagram: #Valiram.

FASHIONVALET GROUP160 +60 3-2730 2103

We are the leading & fastest-growing Modest Fashion group in Southeast Asia.At FashionValet, we are dedicated to continuously understand and deliver everyday on-trend fashion that meets the nuanced but essential needs of today’s modern and modest women.Our brands, dUCk and L I L I T. are iconic in Malaysia, Singapore and Brunei, and they dominate Modest Fashion with a wide assortment of scarves, apparel, bags, cosmetics, accessories & more, all worn as daily fashion necessities.Founded in 2010 as a curated fashion marketplace, we are now a direct-to-consumer (D2C) brand owner with a significant online presence supplemented with over 13 physical stores in Malaysia & Singapore.

ZENYUM221 +65 8939 4840

Zenyum is on a mission to help Asia smile more. Were a consumer-focused healthcare brand that removes medical jargon, cancelled appointments, price variations and puts convenience at the centre of your smile journey. The result? Affordable dental treatment that actually works.Founded in 2018 in Singapore, Zenyum provides Smile Cosmetics, produced under the highest quality standards. Led by a team of experienced tech entrepreneurs and doctors, we bring the highest level of care to our customers by partnering with experienced local dentists across Asia. Zenyum operates in Singapore, Malaysia, Hong Kong, Indonesia, Taiwan, Thailand, and Vietnam.

PT. MITRA ADIPERKASA TBK5,088 +62 21 80648333

Incorporated in 1995, MAP Is the leading lifestyle retailer in Indonesia with over 1,900 retail stores in 66 major cities of Indonesia and a diversified portofolio that includes Sports, Fashion, Department Stores, Kids, Food & Beverage, and Lifestyle products. With over 100 retail concepts, MAP has been a Anchor Tenant in major mall in Indonesia.Listed on the Indonesia Stock Exchange in 2004, MAP was twice voted Best Managed Company in Indonesia by Asia Money Magazine in 2005 and Finance Asia Magazine in 2007. Also featured in Forbes Indonesias TOP 40 Companies in 2011 and TOP 20 Indonesias Most Admired Companies in 2012Our Vision To be the leading omni-channel retailer in Indonesia.Our MissionTo bring health, happiness and a more fulfilling lifestyle to our valued customers through our portfolio of world class brands, delightful shopping experience and omni-channels.Business Philosophy We are a P.E.O.P.L.E Oriented Company* People Centered Approach* Empowerment* Originality* Principles* Loyalty* EarningsLooking for an opportunity? Check our career page below!

THE HOUR GLASS352 +65 6787 2288

The Hour Glass is one of the worlds leading specialist watch retailers with an established presence of over 45 boutiques in twelve key cities in the Asia Pacific region. Our network of multi-brand and standalone brand boutiques are all strategically located in the key luxury retail corridors in Singapore, Kuala Lumpur, Bangkok, Phuket, Hanoi, Ho Chi Minh, Hong Kong, Tokyo, Sydney, Melbourne, Brisbane and Auckland. Fostering a global appreciation of watches, we endeavour to remain the primary port of call for all watch enthusiasts and collectors alike. Whether you are new to watches or are a seasoned connoisseur, our team of passionate Watch Specialists remain poised to assist you on your journey with The Hour Glass.

SWAROVSKI9,577 +65 6273 0707

Masters of Light Since 1895Swarovski creates beautiful crystal-based products of impeccable quality and craftsmanship that bring joy and celebrate individuality.Founded in 1895 in Austria, the company designs, manufactures and sells the worlds finest crystal, gemstones, Swarovski Created Diamonds and zirconia, jewelry, and accessories, as well as crystal objects and home accessories. Swarovski Crystal Business has a global reach with approximately 2,400 stores and 6,700 points of sales in around 140 countries and employs more than 18,000 people. Together with its sister companies Swarovski Optik (optical devices) and Tyrolit (abrasives), Swarovski Crystal Business forms the Swarovski Group. A responsible relationship with people and the planet is part of Swarovski’s heritage. Today this legacy is rooted in sustainability measures across the value chain, with an emphasis on circular innovation, championing diversity, inclusion and self-expression, and in the philanthropic work of the Swarovski Foundation, which supports charitable organizations bringing positive environmental and social impact.

DFI RETAIL GROUP7,670 +65 6891 8100

DFI Retail Group is a leading pan-Asian retailer that covers food (grocery and convenience), health and beauty, home furnishings, restaurants and other retail businesses. The Group has interests in 13 countries and territories, operates over 10,500 outlets, and employs more than 216,000 team members. The Group’s parent company, DFI Retail Group Holdings Limited, is incorporated in Bermuda and has a primary listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Groups businesses are managed from Hong Kong by DFI Retail Group Management Services Limited through its regional offices.DFI Retail Group is a member of the Jardine Matheson Group.

LUXASIA1,090 +65 6281 9559

LUXASIA is the leading beauty omnichannel brand-builder of Asia Pacific. Since 1986, it has successfully enabled market entry and brand growth for more than 100 luxury beauty brands, the likes of Aveda, Bvlgari, Calvin Klein, Diptyque, Hermes, La Prairie, Montblanc, and SK-II. LUXASIA has also established Joint Ventures with the likes of LVMH Group, Elizabeth Arden, Puig, Yves Rocher, and By Terry. The Groups integrated brand-building capabilities include luxury retail, online commerce, consumer marketing & analytics, and supply chain management. LUXASIA is powered by a diverse and dynamic #OneTeam of 2000 talents across a growing footprint of 15 markets.WHY JOIN US?At LUXASIA, we believe that there is beauty within every talent – that is you. We grow you by building your competencies and unleashing your potential. We have curated a vast portfolio of over 100 luxury brands in across Asia Pacific, and growing. Your work will enrich the lives of millions of consumers across Asia Pacific. With us, you get to be an entrepreneur, running the business like it is your very own. We give you autonomy but not without guidance and genuine care. We are a diverse and inclusive team that is courageously innovative. Together as #OneTeam, we celebrate differences, embrace change, explore new ideas, take risks, fail fast, and drive results. While challenges at work are inevitable, the journey promises to be fulfilling. With LUXASIA, an exciting career filled with robust professional growth awaits you. Isn’t that beautiful?Here are the Core Values that guide us:• Respect – Treating everyone right and being inclusive• Entrepreneurship – Running the business like it is our own• Speed – Responding fast to circumstances and challenges• Passion – Loving what we do• Excellence – Doing our best• Courage – Daring to try• Transformation – Be Water, changing for growth and to be future-readyJOIN US and let’s grow together.

BATA GROUP10,190 +65 9754 2912

The Bata Group is one of the worlds leading manufacturers and retailers of quality footwear. A global concern with more than 32,000 employees, 21 production facilities, over 5,300 stores in more than 70 countries across the globe, Bata has been providing the best shoes at the best prices, backed by unparalleled service, for 125+ years.Since its founding on September 21, 1894, by Thomas Bata, the company has consistently demonstrated its commitment to responsible and innovative business models in the belief that capital is not just money, buildings or technology, but, more importantly, people, knowledge and core values. This visionary approach has enabled the company to meet each new challenge with creativity and foresight, while earning the trust and confidence of customers, employees and the communities in which it does business.Today, Batas pioneering decentralized production system, featuring semi-autonomous regional facilities guided by three regional business units, allows the company to quickly adapt to changes in the marketplace and seize potential growth opportunities. It also continues Batas long tradition of being sensitive to cultural and national differences, and enables it to proudly function as a local company in every country it serves.Follow us on facebook.com/bata

SPECIALIZED BICYCLE COMPONENTS2,395 +65 6223 1314

Founded on the principle of performance and fueled by innovation, our focus on the rider and their needs is our constant. From seasoned pros and weekend warriors, to kids and commuters—if you ride, we’re for you. The passion we have for sharing our love of bikes with the world can be seen in those who choose to work here. Headquartered in Morgan Hill, CA, the passionate and creative teammates at Specialized have designed and manufactured the worlds most innovative bikes and gear since 1974. Are you ready to join our team and help pedal the planet forward?

RICHEMONT29,921 +65 6734 4986

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship, creativity, and diversity, which cultivate expert curation and technological innovation to deliver exceptional products and services. As a family-spirited group, Richemonts ambition is to nurture the unique heritage and values of its Maisons and businesses, while enabling them to grow and prosper in a responsible, sustainable manner over the long term.At Richemont, people are our most distinguished asset, the heart of our business, and the foundation of our outstanding creations. We value solidarity, collegiality, loyalty and freedom and succeed by respecting and empowering individuals from all walks of life. Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar including G/FORE, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division.

Top Retail Companies in Vietnam

Key Statistics from 2022

According to the General Statistics Office, the retail industry contributed 12.7% to Vietnam's GDP in 2022, an increase of 0.3% compared to the previous year. The industry also provided employment opportunities to over 3 million people. The top retail segments in Vietnam include food and beverage, fashion, and electronics. The growth of e-commerce has also been a significant contributor to the industry's growth, with online retail sales reaching USD 21 billion in 2022.

Factors Contributing to its Growth and Success

The growth and success of the Retail Industry in Vietnam can be attributed to various factors, including the government's investment in infrastructure and policies to promote domestic consumption. The government has implemented policies to stimulate domestic consumption, such as tax incentives, streamlined administrative procedures, and improved consumer protection regulations.

Another factor contributing to the industry's growth and success is Vietnam's young and growing middle class. With rising incomes and increasing urbanization, the middle class has become an important driver of domestic consumption, particularly in the food and beverage and fashion segments.

Industry Growth and Comparison to Previous Years

The Retail Industry in Vietnam has experienced significant growth over the past decade. In 2011, the industry contributed 8.8% to Vietnam's GDP, and by 2022, it had increased to 12.7%. The growth of e-commerce has been a significant contributor to the industry's growth, with online retail sales increasing from USD 1.6 billion in 2015 to USD 21 billion in 2022.

Key Trends

Technological advancements have been a key trend in the Retail Industry in Vietnam. The adoption of new technologies, such as mobile payment systems, artificial intelligence, and digital platforms, has become increasingly popular in the industry, allowing for more efficient and personalized customer experiences. Additionally, the development of omni-channel retailing, which integrates online and offline retail channels, has improved customer engagement and sales.

Another trend is the increasing focus on sustainability and social responsibility. With the growing awareness of the importance of environmental sustainability and social responsibility, there is a growing emphasis on developing sustainable and socially responsible retail practices. This presents an opportunity for the industry to invest in sustainable and socially responsible practices to enhance their brand reputation and appeal to socially conscious consumers.

Challenges

Despite the industry's growth and success, it still faces several challenges. One of the main challenges is the limited supply chain infrastructure. The lack of reliable and efficient supply chain infrastructure can lead to higher costs and delays in product delivery, hindering the industry's growth and competitiveness.

Another challenge is the high level of competition in the industry. With the growth of e-commerce and the increasing number of retail players entering the market, the industry has become highly competitive. This can lead to price wars and reduced profit margins, presenting challenges for small and medium-sized retailers.

Future Outlook

The future outlook for the Retail Industry in Vietnam is positive. The country's growing middle class and rising domestic consumption make it an attractive destination for retail players seeking to expand their operations in the region. Looking ahead, the industry will continue to play a critical role in the country's economic and social development.

One potential area for further growth in the industry is the development of experiential retail. With the increasing demand for unique and personalized shopping experiences, there is an opportunity for the industry to invest in creating experiential retail spaces that provide customers with memorable and engaging shopping experiences.

Another potential area for growth is the development of sustainable and socially responsible retail practices. With the growing awareness of the importance of sustainability and social responsibility, there is an opportunity for the industry to invest in sustainable and socially responsible practices that appeal to socially conscious consumers.

Conclusion

In conclusion, the Retail Industry in Vietnam has been a significant contributor to the country's economic growth and development. The industry has experienced significant growth over the past decade, driven by the government's investment in infrastructure and policies to promote domestic consumption. Addressing challenges such as limited supply chain infrastructure and high competition will be critical to sustaining the industry's growth in the long term. The development of experiential retail and sustainable and socially responsible retail practices presents exciting opportunities for the industry to continue its contribution to the country's economic and social development.

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By Melissa Goh
Published on 31 May 2023