What: Runway Vietnam opens a new store in response to the growing Vietnamese luxury market.

Why it is important: The Vietnamese luxury goods market is approaching USD 1 billion in revenues and Runway Vietnam opened its multi-brand store to meet the rising demand.

The 7,535 square-foot store at Diamond Plaza is designed with a modern aesthetic and is split into two sections to cater to two different kinds of clientele: women who value creative and original elegance, and the other to younger generation customers with a more urban and experimental brand mix.

The founder of Runway Vietnam, Anh Tran, notes the duality of luxury and that it can be both exigent and laid-back. Brands featured include Comme des Garcons Play, Jacquemus, The Attico, Self-Portrait, Theory, Forte Forte, Ganni, Zimmermann, Studio Nicholson, Eenk, Comme des Garcons, Junya Watanabe, Rick Owens, Off-White, Marni, Fear of God, Ambush, and Pushbotton.

The Vietnamese luxury sector is expected to grow 3.2% annually in the next 5 years due to the growing middle class and the rise in the number of high-net-worth individuals.

Runway Vietnam expands with new duplex store at Diamond Plaza