Syre, a subsidiary of H&M Group, intends to build a polyester fiber recycling plant in Vietnam, with an investment ranging from $700 million to $1 billion.
Renowned international fast-fashion brand, H&M is set to open its third store in Crescent Mall, Ho Chi Minh City.
According to Zara's sales report, its revenue in Vietnam in first half of this year reached around $41 million, which is double the figure in 2017.
As the Christmas and New Year are coming to a close, the fashion brands including two famous brands namely Zara or H & M started the race to offer up to 50 per cent off.
The participation of Zara and H&M in Vietnam fashion market will provide precious lessons to the domestic fashion brands in the long run.
In order to survive, Vietnamese fashion brands must carefully formulate strategies and business operation modes, creating confidence and attraction amongst consumers in the context that international rivals like Zara and H&M are blooming in Vietnam.
