
Supposedly, one should avoid getting married and opening a new business during ghost month (
the living dead). That did not stop a friend/"sista from another mother" from doing a civil ceremony Thursday (Sept. 7) in Italy, which we broadcasted on FaceTime, nor did it detour a number of stores from bypassing a critical feng shui date of 9/9 (
luck be the lady).
H&M (Hennes & Mauritz) is a global clothing retailer. Although it is a Swedish company, it is well known in the U.S. more as a discount retailer, carrying low-end collections from designers and celebrities, such as Karl Lagerfeld and Madonna. Because of this, it seemed surreal that the grand opening of H&M in Ho Chi Minh City called for a countdown clock, red carpet with celebrities and midnight opening with locals queuing hours in advance.


With the luxury taxes placed on such brand names, I am not sure if the price point in Vietnam would result in the discount concept. However, Zara, a comparable peer, seems to be doing well in the Vietnam market even with its price point. Regardless, it is not clear if it is the "scarcity" principle or FOMO that is the driver for the patience to stand in line for hours for the chance to buy clothes from H&M at midnight on a Friday night. Somehow, I think the quality is not significantly different from the clothes in Saigon Trade Center at the Hermes price.
No comments:
Post a Comment