Ho Chi Minh (HCM) city formerly known as Saigon, is the largest city in Vietnam with a total population of 7.7 million people. The city is the economic center of Vietnam and accounts for a large proportion of the national economy. In terms of GDP, the city contributes more than 20.2% towards the total national GDP, and has consistently achieved a GDP growth rate of 10% year on year. In 2012, GDP per capita reached its highest level – at $3,600 compared to the national average of $1,540.
HCM has seen the strongest development in retail activities as well as retail property performance, in general. The total supply of retail space stood at 782,000 sq.m (QIV 2012) and is predicted to increase to 1.3 million sq.m in the future.
The city is the first point of entry for retailers new to Vietnam, due to its young, dynamic economy and also the lifestyle of its citizens. Many international brands have started in HCM city including Christian Louboutin, Just Cavalli, Jimmy Choo and there are increasing numbers looking to enter the market in the future.
Nguyen Hue boulevard is considered to be one of the most elegant streets in Ho Chi Minh City and is a commercial and tourist centre. There are many multi-story office and mixed use developments, luxuriant trade centers such as Rex Arcade. The Rex is home to many famous brands such as Burberry, Ralph Lauren and Cartier. Especially, this street is famous for its flower street festival during the annual Lunar New Year holiday.
LE THANH TON
Le Thanh Ton is the most vibrant retail street shops with diversified brand name of both domestic and foreign retailers including Mango, Addidas, Pnj jewelry,etc. It also home to Diamond Plaza, considered to be the best trading shopping centre in the city with brands such as Furla, Runway, Levi’. Vincom Center B is also the premier shopping mall where favorable brands locate like Emporio Armani, DKNY.
Le Loi intersects Nguyen Hue, Dong Khoi and Hai Ba Trung amongst other major central streets.
This street is located in District 1 with a length of 630 m with historical and commercial landmarks such as the Saigon Notre-Dame Cathedral, Ho Chi Minh City Opera House, Continental Hotel, Hotel Caravelle and the two Vincom developments.
Dong Khoi Street is traditionally the street which has attracted luxury brands in Ho Chi Minh City. Gucci and Louis Vuitton still maintain a presence there alongside some chain brands such as Espirit and Aldo. The opening of the 22,000 sq.m shopping centre by Vincom, named Vincom A, is situated in a prime position between Dong Khoi and Nguyen Hue Street which has seen the opening of more luxury brands such as Hermes, Zegna, Hugo Boss, Christian Dior, Omega and many more.
|KEY AREAS / STREETS/SHOPPING CENTERS||Consumer Profile||MAJOR RETAILERS PRESENT||TYPICAL RENT RATE ($/SQ.M)||RANGE OF UNIT SIZES IN SQM|
|Dong Khoi||HIGH END USER||ALDO, SONY, NEM NEW, GUCCI, MILANO, LV||60 - 200||n/a|
|Le Loi||HIGH END USER||BALLY, BURBERRY, CHANNEL, REX ACADE||45||n/a|
|Le Thanh Ton||MIDDLE USER||PIZZA HUT, COFFEE BEANS &TEA LEAFS, LEVI’S.||20 - 70||n/a|
|Nguyen Hue||HIGH END||n/a|
|Eden Mall||HIGH END||HERMES, DIOR, AND VERSACE||n/a|
|Vincom Center||MIDDLE END USER||JUST CAVALLI, RUNWAY, FURLA||30 - 180||n/a|
Data as of August 2012
Ho Chi Minh City is a multinational city with a diverse food and beverage offering. In the CBD of the city, it is very convenient to locate a Western, Chinese, Korean or Japanese restaurant. Traditional local cuisine is also in abundance whether in low cost single dish style street kitchens or more upmarket authentic restaurants. There is a vibrant night scene with bars and restaurants spread out throughout the city but with notable District 1 areas such as Pham Ngu Lao Streeet, Ton That Thiep Street and Hai Ba Trung.
|KEY AREAS||CONSUMER PROFILE||FOOD & BEVERAGE OPERATORS INCLUDING||RENT RATE (USD/SQM)|
|District 1||Apocalypse, Carmen Bar and Chill bar||Apocalypse, Carmen Bar and Chill bar||30 - 50|
|Le Thanh Ton||Locals, Tourists||Pizza Hut, Domino’s Pizza, Coffee Beans & Tea Leafs, Tokyo Deli, Thai express, Sushi bar||20 - 50|
|Hai Ba Trung||MOF, KFC, XuBar, Sushi Bar, Tour les Jour|
Data as of August 2012