[THE INVESTOR] Hazzys, a local apparels brand, on Nov. 26 said it opened two stores simultaneously in Vietnam, becoming the first Korean traditional casual wear label to land in the blooming market.
Owned by LF, formerly LG Fashion, Hazzys opened a flagship store and a golf exclusive shop at the Lotte Department Store in Hanoi on Nov. 25, company officials said.
The apparels company is on a global push, having entered the French market in August. Officials said they are looking to expand into Southeast Asia through Vietnam, whose own 100 million population offers a giant domestic market with consumers’ growing demand for luxury brand fashion.
“We will be actively advancing into Southeast Asia, the fast-growing market with a population of over 600 million, starting in Vietnam,” said Kim Sang-gyun, head of business management at LF.
The company plans to have 15 stores in Vietnam by 2020, mostly at high-end department stores throughout the country.
By Ahn Sung-mi and news wires (firstname.lastname@example.org)