Objective: to identify a local partner in Vietnam for Tory Burch, a fashion brand, with strong experience in luxury retail and the ability to offer premium locations for the brand’s stores.
Project Background
Tory Burch, a well-known luxury fashion brand, partnered with IN Asia and its founder, Gael Hornbeck. Their goal was to find a distributor in Vietnam with expertise in luxury retail and access to premium store locations.
Solutions
To support Tory Burch, SOA implemented the following strategies:
- Market Analysis: We thoroughly studied Vietnam’s affordable luxury fashion market. This research provided key insights into consumer preferences, competitors, and market trends.
- Focus Panel: We organized a focus panel to test Tory Burch products with the target audience. This setup allowed us to gather direct feedback and refine product positioning based on local preferences.
- Partner Search: We actively reached out to potential retail operators and distributors. After careful evaluation, we identified promising partners who aligned with Tory Burch’s standards.
By combining market insights and strategic outreach, SOA helped Tory Burch take a major step toward entering Vietnam’s luxury retail market.
Results
Source of Asia successfully supported Tory Burch with the following outcomes:
- Comprehensive Market Report: We delivered an 82-page report detailing Vietnam’s affordable luxury fashion market. This research provided crucial insights to guide Tory Burch’s strategic decisions.
- Valuable Consumer Feedback: A focus panel of 14 participants shared direct feedback on Tory Burch’s products. This input helped refine the brand’s offerings to better match Vietnamese consumer preferences.
- High-Priority Leads: During the prospecting phase, we identified nine strong retail operators and distributors. These leads demonstrated solid capabilities and alignment with Tory Burch’s brand identity.
With these results, Tory Burch is now well-positioned to enter the Vietnamese luxury fashion market. By partnering with an experienced local entity, the brand can secure prime retail locations, attract its target audience, and achieve business success in Vietnam.
