French luxury brand to open store in Trang Tien in December.
The Maison Joint Stock Company, one of Vietnam’s leading fashion brand distributors, has recently announced a Christian Louboutin flagship store will open at 23 Trang Tien Street in Hanoi’s Hoan Kiem district in the beginning of December.
“Our long-term vision is to expand the list of international luxury brands in Vietnam,” said Ms. Pham Thi Hong Nhue, Director of Maison Hanoi. “As the exclusive distributor for Christian Louboutin in Vietnam we are happy to finally open its first store in Hanoi. Despite the challenging retail market and the limited vacant space in the CBD, Maison believes that Christian Louboutin’s first store in Hanoi will be an attractive destination.”
Savills has assisted Maison in finding suitable retail space in a location that meets the high standards of the global luxury brand.
The store has a 200 sq m area in a two-storey prime address. Renovations are underway and it will officially open in December to meet the shopping needs of luxury customers in the holiday season.
The past three years have been a tough time for Vietnam’s retail market due to global economic crisis, increasing unemployment rate, and consumers’ tightened spending, according to Ms. Hoang Dieu Trang, Senior Manager of Commercial Leasing at Savills Hanoi.
Vietnam still has potential in the eyes of luxury retailers, however, as it is an emerging market with a young population and fast-growing spending habits. “The grand opening of Christian Louboutin will not only appeal to luxury shoppers but also to international retailers who want to expand their business and networks in Asia,” Ms. Trang added.
Christian Louboutin is a French luxury brand famously known for its signature red-lacquered-sole footwear. Since opening its first store in 1992 it has continuously expanded its business and now has more than 100 stores worldwide.
In 2011 Maison JSC successfully distributed the luxury brand in Vietnam, at 143 Dong Khoi in District 1, Ho Chi Minh City.
Founded in 2002, Maison JSC has been an exclusive distributor of world famous brands in Vietnam with more than 60 stores, including Topshop / Topman, Mango, Karen Millen, Coast, Warehouse, Oasis, Charles & Keith, Pedro, Accessorize, Havaianas, Bebe, NYS, Miss Selfridge, Dorothy Perkins, MAX&Co., and Max Mara.