H&M has confirmed the opening of its first shop in Vietnam in 2017. However, the brand still has not given any further information about the plan, including its launch, the number of stores and the venues.
Few days ago, a notice about job recruitment in Vietnam was reportedly released by Manpower Group, a human resource service provider, on behalf of H&M. The fashion brand plans to employ 100 workers in Hanoi for the first shop that covers an area of 2,000 square metres.
Prior to that, in 2016, Zara, another high-street fashion brand, had opened its first shop in Ho Chi Minh City. Phuong Thuy, an office worker in Hanoi, said if international fashion brands open their shops in Hanoi, she would no longer buy products from privately run shops. “The selling prices in Vietnam would be higher than in their native countries. However, I think I will buy products at shops in Vietnam. This will be more convenient. I will also buy H&M products,” she said.
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Local fashion retailers are now worried as they may lose their jobs because of the official presence of the foreign brands in Vietnam. Thuy Hoa, the owner of a shop that sells goods carried to Vietnam across border gates, admitted that the number of orders has decreased since the launch of Zara’s shop. She said she would have to reconsider her business strategy if international high-street fashion brands open more shops in Vietnam.
