Luxury brands see great potential in Vietnam

Porsche expanded its footprint in Vietnam with the opening of Porsche Studio Hanaoi. - Porsche

HANOI (Vietnam News/Asia News Network): Vietnam pales in comparison with Japan and China in regard to the size of the luxury market, but it has a great potential to become a highly profitable market in the near future, according to Jing Daily, a leading digital publication on luxuries in China.

Jing Daily said the bright outlook for Vietnam's luxury market could be attributed to the rising income of its people in recent years as high-income consumers are the backbone of luxury consumption.