Italian brands are a combination of quality, innovation, design and sustainability

(July 2024) | EuroStyle JSC is a pioneer and market leader in the field of luxury interiors and branded residences in Vietnam. It offers a comprehensive, world-class ecosystem that includes branding consultancy, design, construction and project completion.

With extensive experience in design, development and project management of 6-star hotels and resorts in Vietnam, EuroStyle leads the way in applying top-tier international project management standards to residential projects. It has a highly knowledgeable team specializing in luxury interior furnishings and is the authorized distributor of more than 40 high-end European furniture brands. It is committed to delivering comprehensive lifestyle solutions for elite customers in Vietnam.

We spoke with Alfredo Aguirre, Project Sales Director of EuroStyle JSC.

Who are your main clients?

EuroStyle delivers comprehensive solutions in interior design, construction and project management for top-tier hospitality and residential projects.  Our portfolio includes luxurious private residences and iconic 5-star hotels such as Gran Melia Nha Trang and Lotte Hotel Hanoi. We have also designed branded properties like Coral Villas, furnished by Roberto Cavalli Home Interior, and The Coral Villas, inspired by the GT115 Yacht at Gran Melia Nha Trang 6* Resort. We also boast expertise in the F&B sector with the design and construction of the Michelin 3-star Hispania restaurant and other venues.

What type of tiles and bathroom products does your company carry and how are they used in projects?

We offer ceramic tiles, mosaic tiles, natural wood and bathroom equipment. Italian companies provide a wide selection of tiles, including ceramic, porcelain and natural stone tiles, as well as other materials such as wood and metal. Italian brands stand apart in the luxury market for their combination of quality, innovation, design excellence, sustainability and global reach. In addition to tiles, Italian brands also produce bathroom fixtures, kitchen cabinetry, flooring and other interior design products, positioning them as a comprehensive resource for both residential and commercial projects.

Vietnamese customers and market?

Our Vietnamese customers invest predominantly in individual furniture items such as modern pieces from Minotti and classic designs from Bruno Zampa. They also prefer premium kitchen brands like Arclinea and Binova, wardrobes from Lema. Bathroom furniture is less popular and customers tend to opt for bespoke solutions made locally in Vietnam. We cater exclusively to the luxury market, focusing primarily on villas and penthouses, with a smaller percentage of our projects involving apartments. 

Over the past 10 years, the Vietnamese market has evolved from purchasing individual luxury items towards full-concept homes filled with imported products. This evolution presents a promising opportunity for Italian suppliers in terms of both turnover and brand prestige. Customers now have a deeper understanding of the products they purchase.

The customer profile has also changed. A younger and more successful generation is looking for something different to what they were accustomed to when living with their parents. The market is shifting towards stronger brand recognition. Customers are increasingly knowledgeable about products and have strong preferences. A luxury product without effective management and after-sales service will not last in the market.

How has typical buyer demand changed?

The Vietnamese real estate market has seen a marked shift towards high-end properties, driven by the evolving and increasingly sophisticated demands of high-income segments of the population. These consumers are looking for more than just a place to live, instead aspiring to bring the luxury of high-class resorts into their homes. As a result, today’s high-end homes are not just living spaces but places for personal expression and experience, for showcasing a unique lifestyle vision. They offer personalized services, a range of lifestyle benefits and extensive amenities, all supported by internationally recognized hospitality operators.

These discerning buyers are not satisfied with just any property, but seek residences that will meet their high standards, reflect their luxurious lifestyles and maintain their value over time.They understand that even in volatile markets, branded residences are safe-haven investments capable of weathering economic downturns.

In a Nielsen survey carried out in 2013, 56% of Vietnamese respondents indicated a willingness to spend money on branded goods. This is the third highest rate in the world, just behind China and India. 

According to a Wealth-X report, between 2018 and 2023, the number of individuals in Vietnam with a net worth ranging from $1 million to $30 million grew at an annual rate of 10.1%. Additionally, from 2010 to 2019, the number of individuals in Vietnam with a net worth exceeding $5 million increased by 13.9% each year. This rate of increase places Vietnam in the top five countries worldwide for the fastest growth in this demographic.

How does this affect design?

A luxury residence must be designed from the inside out. It’s not just a question of a prime location or a huge investment in architecture, but also about delivering VIP customer experiences, emotions and personalization values.In the past, buyers tended to look exclusively at the location or construction quality of real estate. Nowadays, they demand true luxury; they want their homes to be personalized and furnished with high-end interior brands. This is why interior design is a critical component of the project. We take every aspect seriously, from initial concept and design through to the delivery and build (D&B) process. We pay the utmost attention to detail, carefully selecting every pattern and interior design item to ensure it reflects the owner’s personal taste. 

Architects, designers and homeowners frequently choose Italian products for their contemporary design, durability and practicality. Italian brands’ unwavering focus on innovation and excellence has solidified their status as leading players in the international luxury market.

How do Italian products perform in the Vietnamese market?

As the Vietnamese construction sector expands and consumer demand rises, there is a growing preference for imported products. Italian products are widely regarded as sophisticated top-tier options. Italian products are widely regarded as sophisticated, top-tier options and have achieved significant success in the Vietnamese market for a number of reasons:

• Quality, design and durability: Italian manufacturers do not introduce products to the market until they are confident they meet all necessary standards.

• Aesthetic appeal: Italian products come in a wide range of designs, patterns and finishes that cater to the diverse tastes of Vietnamese consumers. They offer stylish and highly attractive contemporary options. 

• The most popular colour tones include cream, white, grey and brown, which are ideal for contemporary and understated design motifs.

• Market adaptation: Italian manufacturers have understood and adapted to the specific preferences of the Vietnamese market, offering products that align with local trends and demands.