LF Maestro Opens Second Store in Vietnam... Targeting Premium Men's Suit Market

Global 2nd Store Opens at Hanoi's 'Jangttien Department Store'

LF's leading menswear brand, 'Maestro (MAESTRO)', announced on the 7th that it has opened its second global store at the Trang Tien Department Store in Hanoi, Vietnam.

Maestro, which opened its first global store in Ho Chi Minh City, Vietnam, last September, has expanded its presence from Ho Chi Minh to Hanoi over the past year, recognizing the growth potential of the premium menswear market in Vietnam. With rising national income, the middle class and high-net-worth individuals are steadily increasing, expanding the premium market size, making Vietnam a highly promising market attracting attention from global fashion and retail industries. Among them, Hanoi has recently emerged as a premium shopping mecca in Southeast Asia, with global fashion and beauty brands rapidly opening new stores.

Notably, the second store's location in the 'Trang Tien Department Store,' a symbol of luxury department stores in Hanoi, is significant. Trang Tien Department Store is the oldest luxury department store in downtown Hanoi, housing numerous global luxury brands and known as a landmark for Vietnam's upper class. Recently, as Trang Tien Department Store actively promotes the entry of new global brands, the need to nurture a signature brand to lead the local premium menswear market, combined with Maestro's high growth potential and positive reception over the past year, led to its inclusion.

Opened on the third floor of Trang Tien Department Store with an area of approximately 125m2 (about 38 pyeong), the Maestro second store focused on strategically assembling a product lineup that anticipates local customer demand by expanding the arrangement of the classic suit line, luxurious Arti suit line, and casual fall/winter (FW) collection lines featuring sweaters and pants in diverse colors. The store's interior, featuring a neutral tone mood using wood and stone, and room configurations separating casual and classic sections for efficient customer flow, concentrated on providing an overall luxurious shopping experience.

Maestro opened its first store in Vietnam and its first overseas store last September at Saigon Centre, a representative shopping mall in Ho Chi Minh City, Vietnam's largest economic city. Targeting the grooming generation in their 20s to 40s who invest generously in fashion and beauty, the store has maintained double-digit sales growth in the second half of this year compared to the first half since its opening. Notably, about 40% of cumulative sales are from suit jackets, indicating a high demand and potential for high-priced business suits among Vietnamese men.

Kim Sang-kyun, CEO of LF, said, "Maestro, which has led the domestic menswear market for decades through continuous design innovation and expansion of premium lines, has sufficient potential to become a leading men's K-fashion brand representing Korean business looks in the global market." He added, "Starting with the first successful signal in the Vietnamese market last year, we will intensify our global market strategy and grow Maestro into a global premium menswear fashion brand."

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