Debenhams grants franchise in Vietnam
Debenhams has exported its concept to the Vietnam marketplace through a franchise agreement with the Viet Thai International Joint Stock Company (VTI) that has seen the opening of a retail location in Ho Chi Minh City. The store will sell fashion clothing, lingerie, children clothing and fashion accessories from 55 designer and well-known brands from the UK and Europe including Red Herring, Mantaray and Jeff Banks.
"Vietnam's economic growth over the last decades has enhanced the development of modern, high standard shopping," said Debenhams International Director Francis McAulley. "Our partner Viet Thai International is a prestigious and experienced company in retailing and distributing premium brands and we are glad to cooperate with the firm to bring Debenhams to HCMC."
While Debenhams owns its 155 stores in the UK and Ireland, the retailer has achieved the opening of 50 international units across 17 countries via franchising. VTI is also opening Vietnam's first Hard Rock Café under a franchise agreement and owns a 60-outlet coffee shop chain in the country.
"Debenhams will bring a world-class shopping experience to HCMC at Kumho Asiana Plaza," added the Head of VTI's Consumer Lifestyle Division Julie Larochelle. "We want to offer local consumers a European experience."