Louis Vuitton and Christian Dior open flagship stores in Hanoi



In the context of a global economic crisis due to Covid-19, Vietnam is considered as one of the few countries in the region with a positive GDP growth in 2020. Besides the economy is maintained stably.  The middle class in Vietnam is also growing rapidly and is at a decisive stage.

Louis Vuitton and Christian Dior open flagship stores in Hanoi

Louis Vuitton flagship store at the International Center building, Hanoi / ph: Savills

 These factors have helped the luxury goods market in Vietnam maintain stability and attract international luxury brands.  Retailers still maintain strong demand for high-end properties in prime locations.  However, accompanied by increasing pressure on rental rates.

 Information from Savills Vietnam recently revealed that two luxury brands, Louis Vuitton and Christian Dior, are about to open more flagship stores in Hanoi.  With consulting on research and site search by Savills Vietnam, the site selected by both Louis Vuitton and Christian Dior is the International Center building.

 Developed since 1995, International Center building has just undergone a comprehensive renovation and development to have architectural consistency with Sofitel Legend Metropole Hanoi Hotel.  International Center owns a prime location in the central district of the capital, where many luxury brands like Prada, Hermès, Gucci, Patek Philippe, Hublot, Christian Louboutin, Mont Blanc, Cartier, Hugo Boss, Bottega, Kenzo, Valentino are gathered.

Louis Vuitton and Christian Dior open flagship stores in Hanoi

Christian Dior flagship store at the International Center building, Hanoi / ph: Savills

Mr. Matthew Powell, Director of Savills Hanoi together with his team started the process of researching and consulting on site search for two flagship stores of  Louis Vuitton and Christian Dior from December 2018 to April 2020.

 Up to now, the leasing process has just officially taken place with more than 1,000 m2 of space for Louis Vuitton's store and more than 500 m2 for Christian Dior's store.

 "The premises that satisfy the requirements of luxury brands in the central area of ​​Hanoi are quite rare. By coordinating quickly and effectively with investors, architects, and the store manager team of LVMH Luxury Group, we are pleased to assist Louis Vuitton and Christian Dior brands to successfully find locations at International Center. We believe Louis Vuitton, Christian Dior will be satisfied with this ideal location and these will be the destinations associated with the two brands for many years to come " said Matthew Powell.

Louis Vuitton and Christian Dior open flagship stores in Hanoi

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