Selling nearly all of its shares to its Japanese partner, MTV Global Fashion, which owns the Vascara brand, has been added to the list of local companies bought by foreign firms.

Vietnam is expected to see a fierce confrontation between fashion brands from Europe and from Japan.

In January, Vietnam’s fashion industry received good news: the collections of designers Cong Tri and Phuong My would appear during New York Fashion Week, one of the four most influential fashion week events in the world.

VietNamNet Bridge - Domestic brands are expected to have opportunities to prosper in the local market amid the massive arrivals of foreign brands.

VietNamNet Bridge - Analysts say the golden age of Vietnam’s fashion industry is encountering difficulties amid the arrivals of foreign fashion brands.

VietNamNet Bridge - Vietnamese fashion brands are keeping calm amid the ‘foreign fashion wave’, saying they have advantages in the local market and with demand on the increase, the market is still large enough.

VietNamNet Bridge - While Vietnamese fashion brands struggle to exist in the $3 billion home market, foreign brands have been warmly welcomed.

When import tariffs on fashion products fall from 20 percent to zero percent after the Trans Pacific Partnership Agreement (TPP) takes effect, Vietnamese fashion brands are expected to encounter significant challenges.

VietNamNet Bridge – Though experiencing an annual two-digit growth rate for years, some of Vietnam’s longstanding fashion companies fear that more mid-tier foreign fashion brands will enter the market after the Trans Pacific Partnership takes effect.

 VietNamNet Bridge – As committed under the bilateral and multilateral free trade agreements, Vietnam would have to remove the import tariffs on consumer goods, including fashion products.

 VietNamNet Bridge – Vietnamese fashion brands have got worn out in the rivalry with the word’s famous brands -- to scramble the cake worth $3 billion.