Purpose
In the realm of international business, companies face the challenge of limited resources, necessitating a strategic approach to decision-making It is crucial for organizations to carefully evaluate which countries to target for sales, production, and administrative services Additionally, determining the optimal sequence for market entry and allocating appropriate resources and efforts in each operational country are vital for success.
Vietnam has emerged as one of the fastest-growing markets globally, making it highly appealing for foreign investment The apparel industry in Vietnam has experienced significant growth, marked by the rise of local brands and the entry of international fashion giants like H&M, Zara, and the upcoming arrival of Uniqlo With its immense potential, Vietnam continues to attract attention in the global fashion landscape.
21, as one of the most popular fast fashion retailers, shall take the opportunities to enter the market before the competition gets fiercer with the invasion of more international brands.
This report explores the international business opportunities for Forever 21, Inc in Vietnam by thoroughly analyzing and evaluating the country's business environment factors, ultimately providing strategic recommendations for their successful entry into the Vietnamese market.
We extend our heartfelt gratitude to our lecturer, MA Nguyen Hong Tra My, for her invaluable guidance and dedication in providing us with a solid foundation of knowledge in international business Her informative and practical lectures have been instrumental in helping us complete this assignment successfully.
Overview of FOREVER 21, Inc
Forever 21, a prominent American retail chain headquartered in Los Angeles, ranks #122 on Forbes' list of the largest private companies in the USA With a global presence of 480 stores, the company achieved impressive sales of $3.7 billion in 2013.
One of America’s most preferred retailers, Forever 21 was established as Fashion
On April 21, 1984, Korean immigrants Do Won Chang and Jin Sook Chang opened a small store in a 900 sq ft space at 5637 N Figueroa Street in the Highland Park district of Los Angeles This store, which remains operational today, continues to carry the original name of the chain.
Forever 21 initially focused on women's clothing inspired by South Korean fashion, catering primarily to the Korean American community in Los Angeles Today, the brand has expanded its offerings to include a diverse range of products such as accessories, beauty items, home goods, and apparel for women, men, and girls, including plus-size options Their website also features girls' clothing and various home and lifestyle products, reflecting the brand's growth and broader appeal.
Forever 21 is recognized for its fashionable clothing and affordable prices, with over 60% of its apparel produced in China The average store spans 38,000 square feet, while the largest location reaches around 162,000 square feet Since its inception in 1977, when it had just 40 stores, Forever 21 has expanded to include various brands under its umbrella.
21, Forever XXI, For Love 21, Gadzooks.
The company aims to offer customers an unparalleled range of contemporary fashion at affordable prices, embodying a brand identity that is "always changing and always in style."
THEORETICAL FRAMEWORK
Scanning versus Detailed Analysis
Examine too many or too few possibilities b) Information in scanning:
Resource Acquisition (contain Labor, Infrastructure, Ease of Transportation and Communications, Government Incentives and Disincentives)
Factors to Consider in Analyzing Risk download by : skknchat@gmail.com
Companies and their managers differ in their perceptions of what is risky.
One company’s risk may be another’s opportunity.
There are means by which companies may reduce their risks other than avoiding locations.
There are trade-offs among risks.
Types of risks Political Risk Analyzing Past Patterns Analyzing Opinions Examining Social and Economic Conditions, including:
Obsolescence and leapfrogging of products, Prices, Income elasticity, Substitution, Income Inequality, Cultural Factors and Trading Blocs.
Monetary Risk Exchange Rate Changes: Differences in the exchange rates can create gains or losses
Mobility of Funds: Liquidity among countries varies Competitive Risk
Making Operations Compatible Spreading Risk
Following Competitors of Customers Heading Off Competition c) Collecting and Analyzing Data
Information is needed at all levels of control.
Companies should compare the cost of information with its value. d) Problems with Research Results and Data Limited Resources
Misleading Data download by : skknchat@gmail.com
Reliance on Legally Reported Market Activities
Non-comparable Information: Most companies examine proposals one at a time and accept them only if they meet minimum threshold criteria. e) External Sources of Information Individualized Reports
Trade Associations f) Country Comparison Tools Grids
May depict acceptable or unacceptable conditions Rank countries by important variables
Decide on indicators and weight them
Evaluate each country on the weighted indicators g) Allocating Among Locations
Alternative Gradual Commitments: Companies may reduce risks from the liability of foreignness by
Going first to countries with characteristics similar to those of their home countries.
Having experienced intermediaries handle operations for them.
Operating in formats requiring commitment of fewer resources abroad Moving initially to one or a few, rather than many, foreign countries. Geographic Diversification versus Concentration
Growth rate in each market Sales stability in each market download by : skknchat@gmail.com
Competitive lead time Spillover Effects Need for product, communication, and distribution adaptation Program control requirements
FDI-financial and human capital invested abroad
Depending on the success of the investment, the company may reinvest or consider using the capital elsewhere
Future change in prime locations
Future growth rates will have implications for locations of markets and labor forces.
Technological innovation allows for new trends in urbanization as more people are able to work from locations of their choosing. download by : skknchat@gmail.com
MARKET SELECTION PROCESS
Identifying business opportunities of Forever 21 in Vietnam
Vietnam has emerged as one of the fastest-growing markets globally, boasting a young population of over 89.71 million and a median age of 29.2 years As of 2013, the country's per capita GDP reached USD 1,902, making it an appealing destination for foreign direct investment (FDI).
Vietnam's economy has experienced an average growth rate of 6.4% annually over the past decade, but recent trends indicate a slowdown In 2013, the nominal GDP reached US$174.4 billion with a growth rate of 5.4%, and it is expected to stabilize in 2014 Despite the moderate growth being below its potential, Vietnam has successfully enhanced its macroeconomic stability, with headline inflation decreasing from a peak of 23% in August 2011 to approximately 4.2% by August 2014.
Despite challenges such as language barriers and varying business cultures, Vietnam's market potential is robust, with an anticipated annual growth rate of approximately 5% in the coming years The 2012/13 ASEAN Business Outlook Survey by AmCham Singapore and the US Chamber of Commerce highlights Vietnam as the top choice for expansion within the region.
ASEAN region by a wide margin Thailand is ranked second, followed by Singapore and the Philippines.
In January 2007, Vietnam officially joined the World Trade Organization (WTO), marking the culmination of its long-standing efforts to integrate into the global trading system, a process that began over a decade earlier Prior to its WTO membership, Vietnam had initiated trade liberalization measures, including tariff reductions, in line with its commitments as a member of the Association of Southeast Asian Nations (ASEAN).
Analyzing business opportunities of Forever 21 in Vietnam
Vietnam, a socialist nation led by the Communist Party, holds a national congress every five years to shape its direction and strategies This congress is crucial for establishing key policies aimed at addressing the country's socio-economic development challenges.
Vietnam operates under a mixed economy where the government plays a crucial role in planning and governance When considering investment opportunities in Vietnam, it is essential to pay attention to key political factors that may influence the business environment.
The Communist Party government appears committed to market-oriented reforms necessary to double 2000's GDP per capita by 2010, as targeted. download by : skknchat@gmail.com
The one-party system is generally conducive to short-term political stability
Relations with the US are generally improving, and Washington sees Hanoi as a potential geopolitical ally in South East Asia.
Corruption among government officials poses a major threat to the legitimacy of the ruling Communist Party.
There is increasing public dissatisfaction with the leadership's tight control over political dissent.
The government recognizes the threat that corruption poses to its legitimacy, and has acted to clamp down on graft among party officials.
Vietnam has allowed legislators to become more vocal in criticizing government policies This is opening up opportunities for more checks and balances within the one-party system.
The anticipated sharp decline in growth in 2009 may diminish public support for the one-party system, potentially leading to street demonstrations against economic hardships that could escalate into a significant challenge to undemocratic governance.
Vietnam's political landscape is expected to remain stable in the short term due to strong domestic control; however, the sustainability of its one-party system may be challenged in the long run.
The legal system must adapt to the significant socio-economic changes occurring in Vietnam, as these conditions have a profound impact on legal frameworks This necessity for transformation highlights the importance of aligning legal structures with evolving socio-economic realities.
Globalization: Vietnam became a member of WTO in 2007 World Trade Organization membership has reduced the tariffs and restrictions on download by : skknchat@gmail.com
Vietnam’s exports to other member states, which has benefited the country Also, all legal sectors have been reformed basing on the international trade rules.
Since joining the WTO, the legal landscape in the country has seen significant improvements, particularly in property registration, which is more straightforward than in many other regional nations (The World Bank 2010) Although recent challenges have arisen in joint ventures in Vietnam, including high-profile failures, partner disputes, and transparency issues in the law (Quang 1998), the overall situation is gradually getting better.
Vietnam, as a middle-income country, is making strides towards establishing a rule of law and a democratic society The introduction of the Master Plan on Administrative Reform for the period 2011-2013 aims to create an effective, efficient, transparent, and robust administrative system at both central and local levels A key milestone in this reform process was the amendment of the 1992 Constitution in 2013, reflecting Vietnam's commitment to enhancing governance and public administration.
Currently, Vietnam has carried out reviewing all legal documents and has planned to promulgate new Laws in order to ensure that legal documents comply with the 2013 Constitution.
- The main legislation governing foreign direct investment (FDI) activities are the Law on Investment and the Law on Enterprises in Vietnam.
Vietnam is committed to establishing a robust legal framework for foreign direct investment (FDI) that aligns with international standards To this end, the country has entered into multiple bilateral and multilateral investment agreements with 46 nations and territories, including the Framework Agreement on the ASEAN Investment Area (AIA) In cases where the terms of these international agreements conflict with domestic FDI regulations, the provisions of the international agreements will take precedence.
Vietnam's commitment to multiple free trade agreements (FTAs) enhances its appeal to investors and strengthens its international economic integration As a member of the World Trade Organization (WTO) and the ASEAN Economic Community, Vietnam has signed 12 FTAs with various countries, of which 10 are currently in effect.
Six multilateral FTAs (Vietnam with ASEAN, ASEAN-China, ASEAN-Korea, ASEAN-Japan, ASEAN-India and ASEAN-Australia-New Zealand);
Vietnam has established several key bilateral trade agreements, including the Vietnam-Japan Economic Partnership Agreement, Vietnam-Chile Bilateral FTA, Vietnam-Korea FTA, and the Vietnam-Eurasian Economic Union FTA Additionally, Vietnam has successfully concluded the Vietnam-EU FTA and the Trans-Pacific Partnership, enhancing its international trade relations and economic integration.
Vietnam's accession to the WTO on November 7, 2006, and the implementation of its commitments from January 11, 2007, have significantly benefited the country's economy This membership has led to a substantial reduction in import duties on goods for both domestic production and consumption, as well as the liberalization of Vietnam's services market.
The services subsectors which used to be closed or restricted to foreign investment, such as distribution, transport, telecommunications and finance, are now largely liberalized.
Under Vietnam's Law on Enterprises 2014 (LOE), foreign investors are required to obtain an investment registration certificate (IRC) followed by an enterprise registration certificate (ERC) to set up a company Effective from July 1, 2015, the LOE governs the establishment, organization, restructuring, management, and dissolution of enterprises in Vietnam.
Vietnam's investment law emphasizes the growing significance of foreign investors in the nation's economic development To enhance foreign investment attraction, lawmakers have introduced innovative regulations aimed at capitalizing on opportunities presented by the ASEAN Economic Community and newly negotiated Free Trade Agreements (FTAs).
The Law on Investment (LOI) is pivotal in shaping the legal framework for attracting investment In 2014, a revised LOI was enacted, introducing significant changes designed to enhance the investment climate.
In 2016, Vietnam made significant strides in eliminating legal obstacles for businesses by revising the Law on Investment (LOI) Following the issuance of Decree 118/2015/ND-CP on November 12, 2015, which provided guidance on the implementation of the Law on Enterprises 2014, the government aimed to clarify new concepts and the scope of investment regulations This revision addressed previous challenges stemming from misunderstandings of legal concepts and the absence of key definitions, which had caused inconsistencies in how different licensing authorities interpreted the law, resulting in an unpredictable investment registration process.
Assessment of business opportunities of Forever 21 in Vietnam
potentialities a All-in-all trend
In late 2016, nine Japanese companies representing 14 fashion brands sought franchisees in Vietnam during a trade promotion event A company CEO highlighted Vietnam's appeal, citing its youthful population, growing economy, and rising income levels as key factors driving interest in the market.
According to a survey by Statistics Portal in Germany, the Vietnamese fashion market's revenue was projected to reach $358 million in 2017, with a compound annual growth rate (CAGR) of 22.5% from 2017 to 2022, potentially increasing revenue to $998 million by 2022.
The market analysis firm found that clothing is the biggest segment of the fashion market with estimated value of $245 million in 2017.
Nielsen reports that clothing expenditures in Vietnam are currently the third highest priority for consumers, following food and savings Additionally, a market analysis firm has revealed that Vietnam ranks third globally in the number of individuals who prefer branded goods, with China and India taking the top two spots.
Q&Me, which conducted a market survey in early 2017 on customers aged 18-
39, found that 52 percent of polled people buy fashion products (clothes, footwear) more than once a month.
According to Dinh Thi My Loan, chair of the Vietnam Retailers Association, Vietnam is home to over 200 foreign fashion brands, attracted by the country's impressive average growth rate of 15-20 percent A representative from H&M noted that the brand dedicated two years to studying the Vietnamese market before launching its first store in Ho Chi Minh City and a second in Hanoi, emphasizing Vietnam's significant market potential He highlighted that Vietnamese consumers are keen on keeping up with the latest global fashion trends.
In September 2017, H&M inaugurated its first store in Saigon, drawing approximately 4,000 visitors Shortly after, on November 11, 2017, the brand expanded by launching a second outlet in Hanoi, coinciding with the opening of Zara's store in the city.
Gender & Age group: Male and female Age 18-35 Target audience is all young and dynamic people, catching up with updated international fashion.
A recent survey conducted among 500 individuals aged 20-39 revealed that the average monthly spending on fashion is 550,000 VND Notably, there is a growing trend of increased fashion expenditure, with 10% of respondents spending over 1,500,000 VND each month on fashion items.
In urban areas like Ho Chi Minh City and Hanoi, low to middle-income consumers typically seek affordable fashion at local shops and supermarkets, while top spenders prefer shopping malls and department stores However, the number of high-income shoppers is limited, making up only a small fraction of the nearly 17 million residents combined This demographic challenge complicates effective marketing for branded fashion items, highlighting that shopping malls and department stores in these major cities are the most suitable locations for retail operations.
Shopping habits: According to data collected, Vietnamese consumers have the highest purchasing habit of 2-3 times/month, then once a month The level of consumer shopping does not differ too much.
The average Vietnamese consumer spends approximately 1 million VND monthly on clothing, with low-cost items priced between 100,000 to 300,000 VND being the most popular choices Following this, products in the 300,000 to 500,000 VND range also see significant purchases Notably, consumers aged 30 to 39 are the primary demographic for these purchases.
Lifestyle: The fashion style of Vietnamese youth is diverse and updated with the world Modern dynamic and youthful Highly influenced by Korean, Japanese and American fashion.
A recent survey by the Business Association reveals a significant shift in consumer behavior, with online shopping growing from just 0.9% a year ago to 2.7% in 2018, indicating that the number of customers opting for online purchases has tripled within a year.
Vietnamese consumers are increasingly turning to popular international brands like Zara and H&M, with orders rising notably among the 18-35 age group This shift indicates that foreign brands have become more familiar and appealing to Vietnamese youth, reflecting changing market trends.
In Vietnam, clothing expenditures rank as the third largest category of consumer spending, following food and savings, according to Nielsen, a global marketing research firm Additionally, a report by Danish market survey firm Epinion reveals that in 2017, two-thirds of the Vietnamese population felt psychologically prepared to increase their spending compared to previous years, reflecting a resurgence in consumer confidence.
The demand is believed to be especially high from young consumers, who can earn money and want high-quality brand name goods.
A Nielsen survey of 29,000 individuals across 58 countries revealed that Vietnamese consumers rank third globally in their preference for branded products, following China and India Notably, 56 percent of those surveyed in Vietnam expressed a willingness to invest significantly in branded goods.
Market share: Incomplete statistics from the Association of Vietnam Retailers show that over 200 foreign fashion brands are now available in Vietnam, holding a market share of over 60 percent.
Consumer Spending: According to a report released today, in the second quarter of 2017 Nielsen, consumers in Vietnam are willing to spend more on fashion (36%).
After covering essential living expenses, approximately one in three Vietnamese consumers express a willingness to allocate their budget towards tourism (38%), shopping for new clothing (36%), acquiring new technology (31%), home repairs (30%), and external entertainment services (29%).
- From the attractive urge of the market
The growing of the Vietnamese foreign fashion market is a potentiality but also a risk to F21.
Major fashion brands in the world are very interested in Vietnam because of its high annual average market growth rate of between 15 to 20 per cent.
More than 200 foreign fashion brands present in the country occupying more than 60 per cent of the market share. download by : skknchat@gmail.com
Participating in this competitive landscape may pose challenges for F21; however, with a clear strategy and a strong competitive advantage, the brand is well-positioned to secure a stable market presence.
Fueled by the growing middle class, the fashion and garment industries are booming in Vietnam There is a fierce competition between local and foreign companies.
The numerous factories in Vietnam producing for large international brands also enable them to serve the Vietnamese market and provide high quality clothes, shoes and accessories at low prices.
Competing against global brands and local discount markets, Vietnamese producers are also developing their own brands to distribute in the country, creating a very diverse offer for the Vietnamese consumers.
The emergence of more international brands would compel domestic companies to diversify their products in all market segments.
The continuous stream of foreign brands entering Vietnam’s fashion markets will have some impact on the domestic fashion industry, but are viewed as short- term impacts.
In the long term, increased competition in the fashion market will positively impact consumer behavior, encouraging a shift towards branded products over non-branded alternatives.
The looming presence of the foreign brands will also help customers compare domestic and global fashion products, and understand that prestigious Vietnamese brands are not inferior.
RECOMMENDATIONS
Mode of entry and targeted locations
Vietnam, with a population of 92.7 million in 2016 and rising incomes, presents a large and competitive market, particularly for fashion retailers like H&M, Zara, Uniqlo, Topshop, and Mango This growth creates significant opportunities in the fashion industry, making it an attractive destination for international brands For Forever 21 (F21), a joint venture could be an effective entry strategy, leveraging the manufacturing capabilities and local knowledge of a domestic partner while combining it with F21's market expertise This approach is especially beneficial in navigating the challenges of establishing retail outlets in a competitive landscape.
The joint venture mode of entry offers significant advantages for F21 in the Vietnamese market Firstly, it allows F21 to leverage the local partner's market knowledge, facilitating a quicker and smoother entry into the foreign market Additionally, sharing costs and risks with the Vietnamese partner mitigates financial burdens, while also reducing political risks associated with international business This mode of entry helps F21 navigate challenges such as tariff barriers, unstable tax regimes, and potential license denials by fostering partnerships with local businesses, thus avoiding stringent state ownership and licensing requirements.
F21's entry into the Vietnamese market is primarily challenged by demographic and cultural factors With a population of approximately 92.7 million, Vietnam presents a broader target market than anticipated As income levels rise, there is an increasing demand for quality and fashionable clothing Additionally, cultural concerns are critical, as understanding and respecting local perspectives and beliefs is essential for successful market integration.
To effectively reach its objectives in Vietnam, F21 should focus on selling a diverse range of both local and international clothing lines while keeping F21 as the main brand Targeting top positions in the Vietnamese clothing market—ideally first or second—will enable F21 to enhance its manufacturing, marketing, and distribution capabilities Achieving these market positions will provide a solid foundation for F21 to successfully promote its clothing lines and unique fashion products.
In the fast-fashion industry, securing prime locations is essential for both retail stores and distribution centers Retailers must choose highly visible and densely populated sites to attract customers, while distribution and fulfillment centers should be centrally located to efficiently serve a wide network of retail locations This strategic positioning is crucial for maximizing operational benefits and ensuring rapid service delivery.
Vietnam has emerged as a hub for international fast fashion brands, driven by its large youth demographic and rising income levels The country's population distribution highlights this growing market potential.
When considering expansion in Vietnam, F21's management must evaluate both the high population and the development status of various cities and provinces Development is crucial for enhancing customer access to foreign apparel brands Fortunately, five cities—Ho Chi Minh City, Hanoi, Hai Phong, Can Tho, and Da Nang—align with F21's growth expectations, as they are among the ten wealthiest regions in Vietnam Competitors like H&M and Zara have also targeted Hanoi and Ho Chi Minh City for their expansions Further recommendations for competitive advantages will be discussed in subsequent sections.
F21 should focus on expanding into major shopping centers like Vincom Centers and Lotte Marts, strategically located in the heart of cities These venues attract both locals and tourists, making them prime spots for shopping, particularly for foreign brands As Vietnamese consumers frequently visit large shopping centers for their purchases, Vincom Centers and Lotte Marts present exceptional opportunities for F21's growth in these key urban areas.
Strategies
In the competitive Vietnamese fashion market, Forever 21 faces significant rivals, including H&M, Zara, Uniqlo, and Topshop, all offering similar clothing at comparable price points To successfully penetrate this market and stand out from the competition, Forever 21 must develop effective marketing and business strategies tailored to local consumer preferences.
F21 is experiencing significant global expansion and profitability, leading to a continued focus on concentrated growth as its corporate strategy By targeting the Vietnamese market, particularly its largest and most developed cities, F21 is effectively implementing a recommended strategy of concentration growth.
Business strategies are essential for the success of firms like F21, which, despite its weaknesses in original design, excels in offering affordable prices This pricing advantage is particularly beneficial in Vietnam, where the population has a lower-middle income F21's target demographic primarily consists of teenagers aged 18 to 24, who typically have limited financial resources compared to older age groups Therefore, we recommend that F21 adopt a focused cost-leadership strategy aimed at this young consumer segment This approach can be effectively implemented by reducing production costs, a feasible option for F21 due to its reliance on quick production and distribution processes rather than creative design.
F21 aims to broaden its customer base by diversifying its styles and leveraging social media to enhance brand awareness and increase sales In expanding into Vietnam, F21 can implement three key online marketing strategies: first, creating a visually appealing and user-friendly website tailored for the Vietnamese market, integrated with platforms like Facebook, Twitter, and YouTube; second, developing a dedicated shopping app to streamline the purchasing process; and third, producing optimized video blogs that showcase product information and innovative styling tips These strategies could significantly boost F21's sales and reputation in the region.
To enhance offline marketing, F21 should focus on targeted print media advertising in magazines like Hoa Hoc Tro and The Gioi Phu Nu, which cater to their ideal customers Additionally, implementing successful in-store promotions, featuring well-decorated stores, enticing sales, and exceptional customer service, can significantly attract potential customers and ultimately drive revenue and profit growth for F21.
After six months, F21 should assess their products and strategies to evaluate their effectiveness and identify necessary adjustments In the fast-paced fashion industry, it is vital for companies to keep trend-conscious consumers informed and engaged Therefore, maintaining stability and consistency in marketing techniques is essential for F21's success.
This assignment analyzes the business environmental factors in Vietnam using PESTLE and SWOT analyses to identify and assess the opportunities for Forever 21's market entry.
Vietnam presents significant opportunities for expanding Forever 21's apparel business, yet potential risks stemming from the country's unique national environment may pose challenges To navigate these obstacles effectively, it is essential for the company to conduct thorough research on business opportunities, which will inform strategic development and enhance the likelihood of success in this new market Recommended strategies for this endeavor have been outlined in the concluding section of our assignment.
Despite the thorough preparation of this assignment, we recognize certain unavoidable limitations stemming from time constraints and a lack of reliable data sources We hope this work serves as a valuable reference for future studies focused on analyzing international business opportunities, particularly within the fast-fashion sector.
● A Look at Vietnamese Language, Culture, Customs and Etiquette, [online] available at: https://www.commisceo-global.com/resources/country-guides/vietnam-guide
● Daniels, Radebaugh, Sullivan, 2009, International Business Environments and
Operations, 12 th Edition, Pearson International Edition, Prentice Hall
● Dao Tri Uc, Institute of Developing Economies, 2003, Doing Legal Research in
Asian Countries - Vietnam: Basic Information for Legal Research: A Case Study of Vietnam
● DATAMONITOR, 2009, COUNTRY ANALYSIS REPORT: Vietnam In-depth
In November 2017, Dr Vinh Quoc Nguyen, Kien Trung Trinh, and Phu Thanh Nguyen from Tilleke & Gibbins discussed the challenges of doing business in Vietnam, particularly focusing on the difficulties faced in sourcing input materials for E5 gasoline production For more details, visit their article [here](http://ndh.vn/nguyen-lieu-dau-vao-san-xuat-xang-e5-con-gap-nhieu-kho-khan-20171018031827991p150c169.news).
● Le Bao Dung, LAHTI UNIVERSITY OF APPLIED SCIENCES, 2015, Challenges in entering Vietnamese market for companies in the sharing economy
● MATRADE Trade Commissioner, Vietnam: Market Overview and Opportunities, [online] available at: http://www.massa.net.my/message-from-matrade-trade-commissioner- vietnam-market-overview-and-opportunities/
● PWC, 2016, Vietnam Doing Business Guide
● Thi Lan Anh Tran, The University of Leeds 2009, Vietnam's Membership of the
WTO: An Analysis of the Transformation of a Socialist Economy Into an Open Economy with Special Reference to the TRIPS Regime and the Patent Law
The fast fashion industry in Vietnam is experiencing intense competition, driven by a growing demand for affordable and trendy clothing As international brands expand their presence, local retailers are also stepping up their game to capture market share This surge in competition is reshaping the retail landscape, prompting companies to innovate and improve their offerings With consumers increasingly seeking variety and value, the fast fashion market in Vietnam is poised for significant growth and transformation.
● World Bank Report 2015 – www.worldbank.org
Nguyễn Ngọc Ánh Introduction and Conclusion
Editing and summarizing the report 2.5 (Leader) and presentation transcript Presenting #3 Đỗ Thu Giang Slides
Presenting #2 2 Đoàn Nguyễn Thị Diệu Overview of Forever 21, Inc.
Linh Assessment of market potentialities 2
Hoàng Thị Thảo My Competitions and comparative advantages of F21 2
Vũ Thị Hồng Ngân Analyzing opportunities 2
(environmental factors) Đỗ Thị Thảo Nguyên Identifying opportunities
Võ Thị Phương Thảo Theoretical framework