Rising affluence drives VN interior market

Friday, May 10, 2019 13:40

Nguyễn Quốc Khanh, chairman of the Handicraft and Wood Industry Association of HCM City, speaks at a press briefing to introduce the 2019 Vifa GU expo. — VNS Photo

With increasing incomes, demand for more beautiful living spaces, especially among young people, is rising, driving the development of the interior market, according to the Handicraft and Wood Industry Association of HCM City.

The interior market grew significantly in the past year and was worth around US$4 billion last year, and the figure is expected to continue rising as Millennials (those born between 1980 and 1998), who account for 35 per cent of population, get married or have children.

Speaking at a press briefing held in HCM City on Tuesday to introduce Vifa GU, an exhibition on urban lifestyle and complete solutions for interior spaces, Nguyen Quoc Khanh, HAWA chairman, said the development of the property market has also boosted sales of interior products.

The import of interior products, mainly from China, remains high, he said.

Distribution channels for interiors are scattered, with the market having only a few large distributors, he said.

He urged companies in the industry to set up a professional distribution system for locally made products and develop designs to add value to their products.

Vifa GU

VIFA GU, to be held at the Saigon Exhibition and Convention Centre in HCM City from May 16 to 19, would help promote demand for Vietnamese interior products, Khanh said.

Nguyen Chanh Phuong, HAWA’s deputy chairman and general secretary, said the exhibition would have 500 booths set up by nearly 100 enterprises in the wood processing, handicraft, architecture, real estate, fashion, and food sectors.

Vifa GU will showcase the latest interior and architecture trends and also lifestyle and package solutions for interior spaces that suit Vietnamese aesthetics.

Phuong said companies cannot simply register to take part in the exhibition but have to be approved by its curatorial board comprising prestigious industry people.

To help visitors get a clear understanding of each interior trend, the organisers will divide the exhibition space into areas with different highlights, including three houses representing three different interior decoration trends, timeless, today and lab.

The major brands that will participate include ELLE Decor, Dung Yoko, Travipome, Lusso, CARA, Sieu Chung Ky, GOOD Stories, Baxter, and Casa House

There will also be spaces for food and beverage, Lamborghini, events, and arts performances.

Several seminars will be held on the sidelines of the event.

Khanh said: "International exhibitions and fairs are places to show future consumption trends. Vifa GU is no exception. Enterprises will bring their latest and most impressive designs so that visitors, especially designers, can grasp and then deliver to their customers through projects." — VNS

Comments (0)