E-Land World has set its sights on the Vietnamese market with the official launch of its WHO.A.U brand in November. The company aims to open 10 offline stores in prime locations in Hanoi and Ho Chi Minh City in the coming year. To boost their appeal among Vietnamese consumers, they’ve chosen popular singer Hoa Minzy as the brand ambassador.
While E-Land has had a presence in Vietnam since 2009 through its investment in Thanh Cong Textile Garment Investment Trading Joint Stock Company (HOSE: TCM), this is their first foray into the retail sector in the country. It signals their ambitious plans to mirror their success in China, treating Vietnam as the “next China” in their growth strategy.
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As of the end of 2023, through its subsidiary E-Land Asia Holding Pte, the group holds nearly 47% of TCM’s capital. |
WHO.A.U, the brand chosen for their Vietnam entry, is a South Korean fashion label launched in 2000, inspired by the casual West Coast American style. The brand has seen impressive growth, with revenues increasing from 48 billion Won in 2020 to 90 billion Won in 2023, and is expected to surpass the 100 billion Won mark this year. WHO.A.U gained widespread recognition in Southeast Asia through its feature on the popular South Korean reality TV show, Running Man.
Notably, E-Land mentioned that Vietnamese retail giants like Vincom and Takashimaya Department Store have proactively approached WHO.A.U regarding potential business collaborations. Analysts attribute WHO.A.U’s competitive advantage to its pricing, which is a third of American casual brands like Polo or Tommy Hilfiger.
E-Land is taking a cautious approach to their Vietnam expansion. They plan to gauge the market’s response to WHO.A.U before introducing other brands like SPAO. Additionally, the group is considering operating a New Core Department Store (NC Department Store), their well-known chain of department stores in South Korea, in Vietnam.
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Established in 1980 in South Korea, E-Land Group is one of the largest conglomerates in the country, comprising over 60 affiliate companies. As a pioneer in fashion and retail, E-Land owns nearly 250 brands and operates more than 10,000 stores globally, with a strong presence in China, Europe, and the US. Beyond fashion and retail, E-Land has diversified into hospitality, food and beverage, entertainment, and construction.
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