With the dynamic development of the economy, Vietnam now has more millionaires and super-rich people.

Vietnam currently has five USD billionaires and may have six by 2025. With the rise of the rich, the Vietnamese market will be a fertile land for luxury brands.

Vietnam pales in comparison with Japan and China in regard to the size of the luxury market, but it has a great potential to become a highly profitable market in the near future.

VietNamNet Bridge - All products bearing luxury brands come to Vietnam through two big distributors – DAFC and Tam Son.

VietNamNet Bridge - Though Vietnam is among the countries with lower average income, many Vietnamese are still willing to spend big money on luxury goods.

VietNamNet Bridge - Listed among the four least developed countries in ASEAN, Vietnam is one of the world’s biggest luxury goods markets.

 VietNamNet Bridge – Despite economic difficulties that have forced the majority of consumers to tighten their budgets, producers of branded goods have reaped steady profits because of high-income earners.

 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.

VietNamNet Bridge – The two giants Openasia Group and IPP have been competing vehemently in the battle of distributing branded goods. However, in the eyes of outsiders, they have been coexisting in peace.