The luxury outlet mall chain, operated by Italian real estate entity RDM, is set to open its first property in Vietnam next year as part of its Southeast Asian expansion plan.
The group’s President, Jacopo Mazzei has commented that the group will buy land and build the store outside Ho Chi Minh City, with the company choosing Vietnam because the country has a growing number of young customers interest in Western brands.
He commented: “Luxury and fashion are still in a very initial phase in Vietnam, but the timing is right to intercept the potential of a market that will become very important.”
The move comes following Florentia Village’s expansion into China over the past year, with the opening of Florentia Village Chongqing. The group is also looking at expanding into Indonesia, with the country acting as the second location for Florentia Village in Southeast Asia. However, the instability of the Indonesian currency is currently presenting the company with a number of concerns.
Florentia Village was first launched in 2011 and currently operates seven outlets across Greater China, located in Hong Kong, Tianjin, Shanghai, Guangzhou, Wuhan, Chengdu and Chongqing.
