TADIOTO

Price hikes in Viet Nam have hit consumers who lament about food costs up some 20% or so…. meanwhile:

VietNamNet Bridge 17 Feb 2008 - One doesn’t have to be an economic expert to notice the recent increase in living standards around the city.
….  It’s a tendency not difficult to spot. One just has to wander the streets of Ha Noi to see the crowds of young girls and boys sporting brand name clothing, driving expensive scooters such as Piaggio’s LX, Honda’s SH or PS.

 Photo courtesy Lê Hồng Thái

… Although he’s still dependent on his parent, Hoang Linh, an 18-year-old college student considers himself an addict of designer fashion. He doesn’t shy away from a high price tag when he sees something he wants. He even pawned his Honda’s SH scooter to get a D&G sweater, saying, “If I don’t buy it immediately, it may be sold out”.

 Photo courtesy Lê Hồng Thái

…Van Anh, a young girl and a regular customer of the Luxury Mall in Ha Noi, said she spends an average of US$1,000 whenever she goes shopping, hitting any of 30 brand-name boutiques, including D&G, Versace, Roberto Cavalli, Just Cavalli and Armani.
When she tires of her clothing and needs space in her wardrobe she sells her clothes on the website muare.vinahoo.com. Prada trousers were listed on the site for the “bargain” price of $600, and Just Cavalli can be yours for a “mere” $700.
Even at those prices, Anh gets dozens of responses from the website’s subscribers.
…Mai Chi, a young woman living in HCM City, is desperate for the $600 Prada trousers. “They’re too beautiful,” she said.
….Another subscriber, Mai Uyen, was selling a Louis Vuitton bag she bought just two days ago for $1,200 at the Louis Vuitton store in the Metropole Hotel, saying she already “fell in love with another designer bag.”
She said Viet Nam was becoming a shopping destination with world famous fashion names such as La Coste, Furla, Burberry, Escada, Louis Vuitton and Cartier opening stores in Ha Noi and HCM City.
…According to Ngo Quang Nam, manager of the Ha Noi-based Calvin Klein store, most of his customers are young people, spending an average of VND10 million ($620) for CK items.
…”From when the store opens its doors, the daily turnover can reach VND100 million ($6,200) – a promising sign for our company’s business,” he said.… “Although I’m fascinated by designer items, I can only go window shopping. I earn a little more than VND3 million (US$200) a month while a Burberry latest-model bag costs more than $2,000, ten times higher than my salary. For me, the price at these stores is out-of-reach,” said Thu Van, who works at a building on Ly Thai To Street, where she’s surrounded by designer stores.