LF Hazzys Opens 5th and 6th Stores in Vietnam... "Accelerating Market Penetration"

Establishing Over 10 Key Stores Next Year

[Asia Economy Reporter Yujin Cho] Traditional casual brand Hazzys, under lifestyle culture company LF (CEO Oh Gyusik), is accelerating its entry into the Vietnamese market by consecutively opening its 5th and 6th stores in Ho Chi Minh City, Vietnam.

On the 18th, Hazzys announced that it will open a standalone store in the ‘Takashiyama’ department store located in the prime commercial district of Ho Chi Minh, Vietnam’s largest economic city. This will be Hazzys’ second store in Ho Chi Minh and the 5th store in Vietnam, configured as a comprehensive store that perfectly showcases the total brand identity of Hazzys, including menswear, womenswear, golf wear, and accessories.

The 82㎡ (25-pyeong) Hazzys 5th store in Vietnam is located on the 2nd floor premium apparel zone of the department store. The interior features a harmonious blend of white and wood tones, creating a luxurious yet bright atmosphere. On the opening day, a fashion show event was held with local broadcasters and influencers to effectively communicate the brand’s identity and seasonal theme.

In mid-December, Hazzys plans to open its 6th store in Vietnam on the 1st floor of ‘Landmark81’, a super high-rise building in Ho Chi Minh, with a size of 102㎡ (31-pyeong). Landmark81, located in Binh Thanh District, an emerging affluent area of Ho Chi Minh, is the tallest building in Vietnam. It offers excellent accessibility due to convenient transportation and features luxury apartments, hotels, and dazzling tourist facilities, making it a commercial district with strong consumption potential.

Hazzys plans to open a flagship store at Landmark81, which has become a battleground for global fashion brands, to enhance its brand value not only in Vietnam but also in the Southeast Asian market.

Hazzys first entered the Vietnamese market at the end of 2017 by opening a store in Lotte Department Store in Hanoi, and as of last year, it operates a total of four stores in Hanoi and Ho Chi Minh. Hazzys’ sales in Vietnam have shown meaningful growth, increasing by about 50% year-on-year as of the end of last month.

Vietnam, with a massive domestic market nearing 100 million people, has recorded an average annual economic growth rate of over 6% in the past decade. According to KOTRA, the young population aged 15 to 34, accounting for about 34% of the total population, is emerging as the core consumer group in the Vietnamese domestic market. With rising income, improved consumption levels, and an expanding middle class, the market is becoming increasingly attractive.

Accordingly, based on the successful brand establishment in Hanoi, the capital, and Ho Chi Minh, the economic hub, Hazzys plans to accelerate its market penetration by building a total of about 10 key stores centered on major shopping mall distribution networks in Vietnam by 2021, targeting the rapidly growing demand for premium casual wear in the Vietnamese market.

Meanwhile, Hazzys began its expansion into the Asian fashion market starting with China in 2007, followed by Taiwan and Vietnam, securing about 460 stores in China alone. In October this year, it also participated in Shanghai Fashion Week, emerging as one of the leading traditional casual brands in the Asian fashion market.

This content was produced with the assistance of AI translation services.