Zara is beating its rivals in a big way in Vietnam!
The Spanish fast fashion brand Zara earned a whopping US $ 73 million last year, which is amazingly 6 times more than what it was in 2016.
What makes the numbers more noteworthy is that Zara made its debut in Vietnam just 3 years back and the growth has been impressive each year. It is important to note that during the last 3 years, Zara’s overall revenue in the country has been US $ 128 million.
While Zara has 2 stores in Vietnam, its main competitor H&M has 7 stores in the country. H&M earned US $ 33 million last year in Vietnam, two times more than the previous year.
According to the report released by Mitra Adiperkasa Group, the Indonesian distributor of Zara, the fashion brand remains its major revenue earner. Also, it is worth noting that Zara’s earnings in Vietnam were nearly double of what was seen the previous year. Also it was 4 times more than Zara’s sales in Thailand.