VietNamNet Bridge - In the last 12 years in Vietnam, Vertu’s luxury products have been popular with the rich, despite the closure of its factory.  

Nguyen Quang Minh, deputy CEO of FPT Trading, a subsidiary of FPT Group, the Vietnamese largest IT group, the authorized distributor of Vertu products in Vietnam, said that customers continue placing orders.

However, FPT Trading said it has contacted the manufacturer in the UK to learn about the situation so as to make our business plan for the future.

“We have contacted Vertu holding company and we are now awaiting the answer about the re-organization of operation in the future,” he said. “The reply must come next week, so that we can re-arrange our business plan.”

The company has halted the delivery for clients for several days, while waiting for the news, because this will affect the warranty.

Also according to Minh, in the immediate time, Vertu reselling shops in HCM City and Hanoi are still open. In the long term, the operation will depend on the manufacturer.

In the last 12 years in Vietnam, Vertu’s luxury products have been popular with the rich, despite the closure of its factory.

“Vertu is conducting negotiations about issues related to the workers’ pay and transfer to the new owner. We are still awaiting a final decision,” he said.

The international press reported that Murat Hakan Uzan, the owner of Vertu, has failed to save Vertu from bankruptcy and Vertu’s factories in the UK will have to stop operation, leaving 200 workers redundant. However, Uzan will retain Vertu brand, technology and design license. Sources said he plans to revive the brand.

Vertu was established by Nokia in 1998. In early 2006, authentic Vertu products began to be distributed in Vietnam by FPT Trading through three shops in HCMC and Hanoi.

In June 2012, Nokia sold Vertu to EQT Partners AB. In early 2015, EQT Partners AB transferred Vertu to Godin Holdings, and the deal did not affect FPT Trading’s operation. The then vice president of Vertu sent a letter committing support for Vertu Vietnam.

Analysts commented that Vertu takes good care of the Vietnamese market because Vietnam is one of the best markets for Vertu. 

Minh declined to give details about the sales in the first six months of the year, but said the business is good.

In Vietnam, Signature S with classic style and Aster are selling well. The former is favored by businessmen, while Aster is liked by young high-income earners.

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