Italy’s OVS fashion brand will open its first outlet in Ho Chi Minh City this, Vietnam weekend.
ACFC, distributor of IPP Group, a major Vietnamese fashion retailer, has confirmed that they are introducing the OVS brand in Vietnam.
OVS is a popular fashion brand in Europe. In Italy, the brand has 15 percent of the market share in the country’s children aged 0-14 segment.
The company’s products range is geared towards consumers of all ages. Its collection stretches from bold, urban looks, to elegant, formal office attire. At the same time, the OVS price tag targets the mass consumer segment.
An increasing middle-class population has made Vietnam a magnet for international fast fashion brands, industry insiders have noted.
Market research firm Nielsen estimates the number of middle and affluent class Vietnamese will reach 44 million by 2020 and 95 million by 2030.
Thus, the foray of these international brands such as Zara, H&M and more shows the caliber of the Vietnamese fashion market.