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Redress Design Award 2024 Winners Ready to Tackle Waste Crisis

First Prize winner of world’s leading sustainable fashion design competition joins Tommy Hilfiger to drive circular fashion innovation


HONG KONG SAR – Media OutReach Newswire – 9 September 2024 – In Redress, the Hong Kong-based, Asia-focused environmental NGO accelerating the change to a circular fashion industry by educating and empowering designers and consumers to reduce clothing’s negative environmental impacts, has announced the winners of the Redress Design Award 2024. With the Cultural and Creative Industries Development Agency (CCIDA) as the Lead Sponsor, the world’s leading sustainable fashion design competition concluded its 14th cycle at Hong Kong’s star-studded fashion spotlight event, CENTRESTAGE*, on 6 September.

Redress Design Award 2024 Winners Ready to Tackle Waste Crisis

Fashion, one of the world’s most polluting industries, is experiencing a waste crisis. Every second, the equivalent of one garbage truck of textiles is landfilled or burned.[1] Textile waste is estimated to increase by about 60% between 2015 and 2030.[2]

It is estimated that 80% of a product’s environmental impact is determined at the design stage. Redress educates designers in order to be champions of the circular economy, a system where materials never become waste and nature is regenerated[3] and where responsibility is taken for the product’s entire lifecycle and its impact on the planet. Creations on the Redress Design Award runway are made using circular design techniques and textile waste, ranging from denim end-of-rolls to a shredded military parachute.

Dr. Christina Dean, Founder, Redress, said, “This competition win is a broader victory for the industry, which needs urgent injections of creativity from designers, and more engagement from consumers, if we’re to tackle the growing waste crisis raging globally and particularly in Asia. Urgent change and collaboration at the design stage is needed.”

Congratulating Redress on another successful competition cycle, Mr. Victor Tsang Chiu Hok, JP, Commissioner for Cultural and Creative Industries, CCIDA, said, “The CCIDA is delighted to be the lead sponsor of the Redress Design Award again, with a view to providing a unique platform for up-and-coming fashion designers around the world to showcase their sustainable designs.”

WINNER JOINS TOMMY HILFIGER FOR SUSTAINABLE RETAIL PROJECT

Winning the coveted First Prize with 2024 Exclusive Fashion Sponsor, Tommy Hilfiger, Tiger Chung from Hong Kong gets the career-changing opportunity to join the Tommy Hilfiger team and work on a sustainable design project for retail, creating a broader impact for the industry and consumers. Tiger out-designed nine other Finalists representing Australia, France, Iran, Italy, Mainland China, Taiwan, the United Kingdom, and Vietnam, who were selected from applications across 55 global regions in a rigorous judging process.

“I can’t believe that I’ve won! This is a huge opportunity to showcase circular solutions on a global stage,” shared winner Tiger Chung, whose competition collection ‘The Wanderer’ tapped into waste streams such as car seat covers and discarded sofas. “Fashion is rightly criticised for its negative environmental impact, which is a huge concern for designers like myself. But we intend to change this — and make fashion better for the planet.”

“Circular design is foundational to a sustainable future for fashion,” said Jessica Wei, Senior Director of Sustainability, Tommy Hilfiger Asia Pacific, and Redress Design Award 2024 judge. “Tommy Hilfiger is thrilled to inspire the next generation of designers towards circularity, including welcoming the talented Tiger Chung on board our team to work towards sustainable solutions together.”

At Tommy Hilfiger, all products will contribute to the circular economy by 2030 through design, use and end of life. As part of this strategy, Tommy Hilfiger has a focus on educating their designers around circular design, further cementing Redress and Tommy Hilfiger’s shared alignment for a circular fashion system.

REDRESS BRIDGES THE GAP FOR DESIGNERS TO GO CIRCULAR

Most fashion curricula lack circular design education. Meanwhile, investor analysts and industry leaders are calling for upskilling of designers to future-proof the industry and prepare for impending sustainability legislation. That is why Redress partners with over 170 academic institutions globally to bridge this gap by delivering circular design education.

As part of the Redress Design Award 2024, the Finalists took part in various circular educational challenges. The ‘TAL x Redress Low Waste Design Challenge’ at TAL Apparel’s factory in Vietnam explored commercial solutions for pre-consumer garment waste, while the ‘Packaging with Purpose: Delta Global x Redress Challenge’ examined how sustainable packaging can enhance consumer engagement with brand values.

REDRESS ALUMNI – CATALYSING GLOBAL CHANGE

Redress continues to cultivate fashion game-changers all over the globe by supporting the Redress Alumni Network, a community of 300+ previous Finalists and Semi-finalists from 40+ countries and regions. Over half of these circular design talents are based in Asia, tackling waste in Asia. With diverse circular design talents and solutions, these creatives are at the forefront of a new breed of fashion designers prioritising sustainability and circularity as much as desirability.

Across the fashion industry, Redress Alumni are catalysing incredible change, from dressing celebrities such as Heidi Klum and Taylor Swift, to garnering media spotlights such as WWD’s coverage of Kévin Germanier’s looks at the closing ceremony of the 2024 Paris Olympics. With Redress’ support, recent Alumni highlights include Pei-Wen Jin’s trip with Ocean Rising inspiring ocean-inspired embroidery for clothing longevity, 11 Alumni showcasing designs made from upcycled sporting waste at the Paris 2024 Olympics, alum Lola Clavel creating bookmarks from Redress’ clothing takeback waste in Hong Kong, and Micaela Clubourg of Studio Cumbre visiting the Delta Global head office for mentorship and to gain insights into sustainable packaging. Discover more Redress Alumni brands here.

Next up, Redress will partner with Tommy Hilfiger to present a celebratory runway of the Redress Design Award 2024’s emerging Chinese sustainable fashion designers at Shanghai Fashion Week. The collections reinforce Redress’ mission and Tommy Hilfiger’s DNA to create fashion that ‘Wastes Nothing and Welcomes All’.


[1] Ellen MacArthur Foundation (2017), A New Textiles Economy: Redesigning Fashion’s Future

[2] Global Fashion Agenda and The Boston Consulting Group, Inc. (2017), Pulse of the Fashion Industry

[3] Ellen MacArthur Foundation – What is a circular economy?

Hashtag: #REDRESS

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The Redress Design Award

The Redress Design Award () is the world’s leading sustainable fashion design competition that educates and empowers emerging fashion designers about circular design techniques to reduce fashion’s negative environmental impacts. Organised by Hong Kong-based, Asia-focused environmental NGO Redress and sponsored by the Cultural and Creative Industries Development Agency (formerly known as Create Hong Kong) annually since 2011, the competition partners with over 170 academic institutions globally and attracts designer applicants from over 50 countries and regions to win prizes that connect them with global-leading fashion businesses to accelerate the change to a circular fashion industry.

The Cultural and Creative Industries Development Agency (CCIDA)

The Cultural and Creative Industries Development Agency (CCIDA) () established in June 2024, formerly known as Create Hong Kong (CreateHK), is a dedicated office set up by the Government of the Hong Kong Special Administrative Region (HKSAR Government) under the Culture, Sports and Tourism Bureau to provide one-stop services and support to the cultural and creative industries with a mission to foster a conducive environment in Hong Kong to facilitate the development of arts, culture and creative sectors as industries. Its strategic foci are nurturing talent and facilitating start-ups, exploring markets, promoting cross-sectoral and cross-genre collaboration, promoting the development of arts, culture and creative sectors as industries under the industry-oriented principle, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community to implement Hong Kong’s positioning as the East-meets-West centre for international cultural exchange under the National 14th Five-Year Plan.

Redress

Redress () is a Hong Kong-based, Asia-focused environmental NGO with a mission to accelerate the change to a circular fashion industry by educating and empowering designers and consumers so as to reduce clothing’s negative environmental impacts.

Tommy Hilfiger

Tommy Hilfiger () one of the world’s most recognized premium lifestyle brands, uplifting and inspiring consumers since 1985. The brand creates iconic style, which comes alive at the intersection of the classic and the new, co-created with people who are shaping culture around the world. Tommy Hilfiger celebrates the essence of classic American style with a modern twist. Tommy Hilfiger offers premium quality and value to consumers worldwide under the TOMMY HILFIGER and TOMMY JEANS lifestyles, with a breadth of collections including men’s, women’s and kids’ sportswear, denim, accessories, and footwear. Tommy Hilfiger has an unwavering commitment to sustainability and inclusivity.

Ventrickle to launch a new health and wellness app, empowering local F&B establishments to provide comprehensive nutritional information


SINGAPORE – Media OutReach Newswire – 9 September 2024 – As Ventrickle prepares for the launch of its new health and wellness app, slated for release later this year, they are extending an invitation to all local F&B establishments to participate in a special initiative aimed at enhancing transparency in food nutrition.

Ventrickle empowers local F&B establishments to provide detailed nutritional information, fostering a healthier community through informed food choices.
Ventrickle empowers local F&B establishments to provide detailed nutritional information, fostering a healthier community through informed food choices.

Ventrickle is Fostering a Healthier Singapore through Informed Choices

With a growing number of consumers in Singapore prioritising healthier lifestyles and utilising tools like calorie calculator apps and nutrition apps, there’s a rising demand for transparency in food choices. Hence, the provision of comprehensive nutritional information on menus is becoming increasingly crucial. Now, F&B establishments can meet this demand and empower diners to make informed decisions with the help of Ventrickle’s new initiative.

For a limited time, Ventrickle is offering complimentary nutrition analysis services to all F&B establishments in Singapore. Ventrickle’s team will collaborate closely with restaurants, meticulously analysing menus to provide up-to-date nutritional data. This process will equip restaurants with comprehensive calorie counts and nutritional breakdowns for their dishes, aiding them in becoming featured venues on Ventrickle’s upcoming health and wellness app — a powerful calorie counter app and nutrition tracker for users seeking healthier dining options.

This initiative aligns with Ventrickle’s mission to empower people in Singapore to make informed food choices. It also provides F&B owners with a valuable opportunity to attract health-conscious customers and demonstrate their commitment to wellness, building a healthier community where customers can relish their meals while staying mindful of their nutritional intake.

Ventrickle invites F&B owners and establishments to be part of this transformative movement in Singapore’s F&B scene to be featured on the Ventrickle app and connect with a growing audience of health-conscious diners.
Hashtag: #Ventrickle #singaporefood #foodies #HealthyChoices #HealthyLifestyle #HealthyLiving



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Ventrickle

Ventrickle is a health and wellness platform based in Singapore that is focused on providing users with accurate and accessible nutritional information. Their upcoming app features innovative tools designed to help people make healthier choices in their daily lives, with a strong emphasis on personalisation and mental health in the approach to nutrition and calorie tracking.

Equilibrio Chiropractic Has Opened its First Outlet in the East

Eastern Singapore residents can now experience the benefits of chiropractic care closer to home at Equilibrio Chiropractic’s newest outlet at Parkway Parade.


SINGAPORE – Media OutReach Newswire – 9 September 2024 – Equilibrio Chiropractic has recently opened its new clinic in Parkway Parade. To celebrate the opening, special trial packages, which include an in-depth consultation with a trained chiropractor, a spinal exam, and relevant adjustments, are now available for first-time customers.

Equilibrio Chiropractic Has Opened its First Outlet in the East
Equilibrio Chiropractic Has Opened its First Outlet in the East

Many individuals today face back, neck, or joint pain due to lifestyle factors such as poor posture, physical strain, or injuries. However, they may be unaware of non-invasive methods to address these discomforts or inconveniences. Equilibrio Chiropractic aims to provide support in these areas, offering personalised chiropractic care and support tailored to individual needs.

The chiropractors at Equilibrio Chiropractic have honed their practice through relevant training, education and experience. This allows them to address a range of needs and provide personalised management plans. The team is also united by a shared passion for helping others discover the potential benefits of chiropractic care. Each team member has their own unique story of how chiropractic therapies have made a positive impact on their lives or the lives of their loved ones. These personal experiences have fueled their dedication to providing compassionate and comprehensive care to every patient they see.

With existing clinics in the central areas of Novena and Tiong Bahru, this expansion brings their chiropractic practice closer to residents in the east, offering convenient access to holistic pain management and wellness. From elderly individuals with age-related mobility issues, arthritis, or general aches and pains to families seeking support for their overall well-being, Equilibrio Chiropractic aims to empower all individuals to live life to the fullest.

They offer therapies that focus on the bones, nerves, muscles, tendons, and ligaments to support the body’s healing. This includes dry needling, radial shockwave, super inductive system therapy, and spinal decompression to manage common pains such as neck pain, back pain, elbow pain, and even headaches. They can also provide nutrition and lifestyle recommendations to complement their therapies and promote overall wellness. To experience the benefits firsthand, first-time customers can contact the clinic directly to sign up for a trial package.
Hashtag: #EquilibrioChiropractic



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About Equilibrio Chiropractic

Equilibrio is a chiropractic clinic in Singapore that believes in achieving “Balance” where every single part of the body system is in harmony and in sync with each other like a well-conducted orchestra. Aside from chiropractic care, Equilibrio provides a range of services such as dry needling, radial shockwave and spinal decompression.

Excellence Singapore Group Launches Operations in China & Hong Kong, Elevating Regional Business Services


SINGAPORE – Media OutReach Newswire – 9 September 2024 – In a strategic move to redefine international business dynamics, Excellence Singapore Group strategically extends its footprint into China and Hong Kong. Located at the nexus of Asian commerce, this expansion not only broadens its suite of sophisticated corporate services but also cements its role as a cornerstone for enterprises navigating the complexities of the Singaporean and Chinese markets. With the inauguration of new services, Excellence Singapore Group merges traditional business acumen with contemporary solutions, reinforcing its commitment to fostering global business growth and operational excellence.

Excellence Singapore Group Launches Operations in China & Hong Kong, Elevating Regional Business Services
Excellence Singapore Group Launches Operations in China & Hong Kong, Elevating Regional Business Services

Navigating New Frontiers in Business Services

Amid tightening business regulations across China, Singapore has ascended as the preferred regional hub for expansion, drawing Chinese firms with its stable and transparent regulatory framework. Excellence Singapore Group, established in 2013 and rooted in Singapore’s dynamic Central Business District, capitalises on this trend by officially launching operations in China and Hong Kong. This strategic move introduces new services, such as incorporation in Hong Kong, the US, BVI, and the Cayman Islands, alongside international trademark registration. Anchored by ISO-certified quality and a diverse client base, the expansion not only broadens the firm’s repertoire but also strengthens its position as a key facilitator for Chinese enterprises aiming to penetrate or enhance their presence in Asian markets.

Empowering Cross-Border Business Growth

This initiative, announced in early September 2024, addresses the increased influx of Chinese businesses and entrepreneurs seeking robust business frameworks within Singapore, spurred by the pandemic’s impact on global commerce. Now offering a comprehensive array of services tailored to facilitate seamless market entry in Singapore and compliance for foreign businesses, these services include company incorporation, corporate secretarial support, trademark registration, specialised accounting and taxation services, and work visa applications, all designed to mitigate the complexities of regulatory environments in both regions.

Moreover, this expansion enables Excellence Singapore Group to provide enhanced support for Singapore-based companies looking to navigate the Chinese market. With a focus on critical areas such as personal data protection advisory, due diligence, and background checks, the firm ensures that its local clients are well-equipped to manage the regulatory and compliance requirements of cross-border operations.

Supporting Global Expansion with Tailored Business Solutions

Excellence Singapore Group reinforces its commitment to global business support with its strategic expansion into China and Hong Kong. This extension not only underscores the firm’s dedication to providing top-tier business consulting services but also enriches its established reputation for catering to a diverse client base with specialised solutions.

To mark this milestone, clients are invited to leverage the promotional code “ESG10” for a 10% discount on incorporation services or secretarial fees when transitioning from another provider. By integrating expert consultation with specialised services, the firm remains a pivotal partner for businesses aiming to thrive in a connected world.Hashtag: #Businessservices #Corporateservices #Incorporationservices #Secretarialservices #Accountingservices #Taxationservices




Wechat: excellencesg

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About Excellence Singapore Group

Excellence Singapore Group is a premier ISO-certified corporate service provider dedicated to providing one-stop bespoke business solutions across incorporation, compliance, offshore incorporation, and more. Recognised with the Promising SME 500 award, Excellence Singapore Group empowers businesses with local expertise and a commitment to ethical, quality service. For more information, please visit:

Sahm Capital Chairman Highlights Technology’s Role in Driving Growth and Innovation at 24 Fintech in Riyadh


RIYADH, SAUDI ARABIA – Media OutReach Newswire – 8 September 2024 – Steven Chou, Chairman of Sahm Capital and Chief Strategy Officer of Valuable Capital Group Limited, highlighted the transformative role of technology in Saudi Arabia’s financial sector during his speech at the 24 Fintech in Riyadh. The event attracted 36,959 visitors, 300+ brands and 350 sector investors, making it a key platform for discussion on fintech innovation.

During the panel, Steven showcased Sahm Capital’s leading position as the first brokerage on Tadawul to implement a proprietary Settlement & Clearing System. “Our system captures the complete trading cycle, providing Saudi investors with seamless, efficient services,” Steven stated. “This unique platform also allows us greater flexibility in product and service offerings, enhancing investor access to Saudi’s rapidly expanding market.”

Moreover, Sahm Capital remains in continuous dialogue with both the Capital Market Authority (CMA) and Tadawul to refine Know Your Customer (KYC), Anti-Money Laundering (AML), and suitability test procedures. “Our goal isn’t just compliance,” Steven explained, “it’s about making sure every transaction reflects our clients’ needs and preferences, delivering smooth, efficient experiences.”

Sahm App: Revolutionizing Investor Access

Launched in December 2023, the Sahm App is a first-of-its-kind, self-developed platform in the Kingdom, enabling users to trade across both the Saudi and U.S. markets seamlessly. By providing a streamlined account setup, seamless transitions between stock markets, and a range of features including market quotes, company data, 24/7 news, investor education materials, and analysis tools, the app enhances the overall trading experience.

“We’ve identified the rising demand for more sophisticated and tailored investment solutions among Saudi investors,” Steven shared. “This demand drives our continuous updates—10 significant enhancements in just 8 months—keeping the app at the cutting edge of trading services.”

A Rapidly Growing Force in Saudi Arabia

Sahm Capital’s innovative approach has rapidly positioned it as one of Saudi Arabia’s fastest-growing brokerages, now ranking among the top 20 brokerage in the Kingdom. As the company expands, Steven reaffirmed Sahm’s dedication to continuously evolving the platform with new features and products that meet client needs.

Hashtag: #Brokerage #Sahm

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About Sahm Capital

Registered in Riyadh, Sahm Capital holds licenses (22251-25) from the Capital Market Authority (CMA) to conduct Dealing, Advising, and Custody services in KSA, making it the first international online brokerage firm to provide online brokerage services in KSA. The company is also a registered member of the Saudi Exchange, as well as its affiliates, the Securities Depository Center Company (Edaa) and the Securities Clearing Center Company (Muqassa). For more information about Sahm, please visit:

About Sahm App

Developed by Sahm Capital, the Sahm App is a proprietary platform specifically designed for investors in Saudi Arabia. It enables users to trade seamlessly across both the Saudi and U.S. markets, all at their fingertips. With its user-friendly interface and a diverse range of investment options, the Sahm App has quickly become one of the top three free finance apps in the Kingdom.

Momcozy NYFW Popup Event Launches to Celebrate the Cozy Evolution of Motherhood


NEW YORK, USA – Media OutReach Newswire – 6 September 2024 – Today marks the beginning of the much-anticipated Momcozy NYFW Popup Event During News York Fashion Week. Taking place from September 6th to 11th in New York City, this event embraces the theme “Cozy Evolution: Together We Grow.” This unique celebration focuses on the intimate moments that shape our lives, particularly the transformative journey of motherhood. Additionally, this event marks a significant moment in fashion, as it showcases the evolving role of mothers in the industry, celebrating their contributions and breaking down barriers in the fashion world.

Momcozy host a special private grand opening of the Momcozy Lounge in SOHO, NYC, on September 6th, 2024. This exclusive event will be highlighted by the appearance of well-known actress and DC Hero Danielle Panabaker, who will engage with attendees, delve into the theme of motherhood, and share her personal experiences. Additionally, actress Caity Lotz, another beloved DC Hero, will join the event virtually, adding to the celebration and expanding the conversation on motherhood to a wider audience. Their participation brings star power and diverse perspectives to the discussion of motherhood, inspiring attendees.

Momcozy’s NYFW Popup Event presents a prime opportunity to connect with industry luminaries across various fields. By facilitating these connections, the event aims to create a supportive and dynamic community where mothers can share experiences, gain insights, and inspire one another. A highlight of the event is a keynote speech by renowned designer Rebecca Minkoff. Known for her innovative designs and entrepreneurial spirit, Minkoff will share how motherhood has shaped her career and fashion collections.

Beyond the thought-provoking discussions, guests can explore Momcozy’s latest product lines in a hands-on experience designed to showcase the brand’s commitment to comfort and functionality. Additionally, the event will feature the Momcozy Glow Bar, where guests can unwind with exclusive relaxation treatments, and exclusive gifts will be provided to commemorate the experience.

By offering a space that combines comfort, functionality, and a strong sense of community, the Lounge empowers mothers to balance their dual roles with confidence and grace. As moms in the fashion industry navigate the pressures of both career and family, Momcozy applauds these remarkable women for their ability to find the best ways to balance work, socializing, and caring for their families. The Momcozy Lounge makes motherhood and comfort more accessible than ever, encouraging all mothers to pursue their dreams without reservation.

Hashtag: #Momcozy

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About Momcozy

Momcozy is a global mother and baby brand, serving over 3 million mothers in more than 60 countries and regions. Since 2018, we’ve evolved to meet the unique needs of moms and their families, offering a range of products from pregnancy through early motherhood. As the Cozy Reformer, we always put moms first, delivering innovative solutions, comfort, and support to bring joy and ease to their journeys.

The large-scale live show “Emperor Kangxi’s Grand Ceremony” ignites the peak tourist season in Hebei-Chengde


CHENGDE, CHINA – Media OutReach Newswire – 6 September 2024 – With the summer holiday season concluded, “Emperor Kangxi’s Grand Ceremony” has delivered an impeccable report card. This large-scale live show, which utilizes the starry sky as its backdrop and the landscape as its stage, seamlessly integrates royal culture. Since the opening of its 13th season, the show has consistently garnered favor from visitors across China. Every show has been packed to capacity, drawing crowds from all over. During this scorching summer, it presented breathtaking visual spectacles to visitors from all corners, becoming a dazzling attraction within the cultural tourism industry of Chengde City.

Live Show Scene of Emperor Kangxi's Grand Ceremony
Live Show Scene of Emperor Kangxi’s Grand Ceremony

As of August 30th, the 13th season of “Emperor Kangxi’s Grand Ceremony” has staged a total of 201 performances, attracting over 500,000 visitors. During this sizzling summer, the show continuously broke records with three shows on six consecutive days, totaling 18 days with three shows. On average, the performance welcomed over 9,000 visitors per day.

Live Show Scene of Emperor Kangxi's Grand Ceremony
Live Show Scene of Emperor Kangxi’s Grand Ceremony

The live show have also brought new traffic to the commercial streets in the small town. A model district that represents a new leisure lifestyle in the local area, Dingsheng Yuanbao Street, seamlessly integrates “cultural scenes” with a “sense of sophistication”. With its leisure-oriented businesses primarily featuring Qing Dynasty architectural styles, it creates an immersive and culturally rich shopping experience for visiting tourists while providing locals with the most sophisticated leisure and micro-vacation facilities.

Dingsheng Yuanbao Street has transformed from a slow-growing business district to a city’s calling card in just three years, achieving a 40% introduction of first-to-city brands. Its outstanding performance has earned it over a dozen awards and honors, including “The First Batch of National Nighttime Cultural and Tourism Consumption Clusters,” “National AAAA Tourist Attraction,” “National-level Tourist and Leisure Street District,” “Provincial-level Tourist and Leisure Cultural Street District,” “Provincial-level Tourist and Leisure Street District,” and “Provincial-level Demonstration Commercial Street”.

This year, Dingsheng Yuanbao Street has planned street wall art murals, children’s play equipment, a traditional Chinese market, and various popular activities catering to customers of all ages, forming a brand-new and complementary landscape alongside the live-action performance of “Emperor Kangxi’s Grand Ceremony.” The all-new “Dingsheng Tour” integrates food, lodging, transportation, sightseeing, shopping, and entertainment, offering tourists from across the country a comprehensive and multi-faceted recreational experience that delights the eyes, palate, and ears.

Entering September, “Emperor Kangxi’s Grand Ceremony” will resume offering citizen tickets as a gesture of gratitude to local residents. Simultaneously, through a series of splendid events and uniquely crafted streetscapes, it aims to enhance visitors’ sense of fulfillment and satisfaction, contributing to the implementation of a tourism-driven and culturally vibrant city.

Hashtag: #ChengdeInformationOffice

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VinFast’s Strategic Advantages in European Electric Vehicle Industry


HANOI, VIETNAM – Media OutReach Newswire – 6 September 2024 – Hanoi, Vietnam Amidst a geopolitical and economic landscape fraught with uncertainty, VinFast, the Vietnamese electric vehicle manufacturer, is positioning itself for success with a diversified strategy. By offering a range of products and targeting multiple markets, the company is creating a unique advantage in the rapidly evolving automotive industry.

Caption

As geopolitical tensions cast a long shadow over the global economy, carmakers with a flexible, adaptable approach are poised to benefit. VinFast’s multi-product, multi-market strategy positions it to weather potential disruptions and capitalize on emerging opportunities.

The Strong Vietnam-EU Economic Partnership

The interconnectedness of the global economy has created a competitive landscape where countries are seeking to expand their trade, investment, and technological capabilities. The European Union (EU) has emerged as a key partner for Vietnam, with the Vietnam-EU Free Trade Agreement (EVFTA) marking a significant milestone in their bilateral relationship.

The EVFTA has boosted trade between Vietnam and the EU, propelling Vietnam to become one of the EU’s largest trading partner in ASEAN. This growing economic cooperation has created favorable conditions for Vietnamese companies like VinFast to expand into the European market.

VinFast’s multi-product, multi-market strategy, combined with the strong economic ties between Vietnam and the EU, positions the company to compete effectively in the global automotive market.

The Vietnamese electric vehicle maker is demonstrating the effectiveness of its multi-market strategy. As global demand for sustainable transportation surges, the company’s ambitions extend far beyond its initial focus on the United States and the European Union.

A testament to VinFast’s growing influence is the recent recognition of its founder and CEO, Pham Nhat Vuong, on the 2024 MotorTrend Power List. As the only honoree from Southeast Asia, Vuong’s inclusion underscores his visionary leadership and the groundbreaking work being done at VinFast.

The company has been actively expanding its global reach, with recent milestones including the opening of new dealerships in the Philippines and the Middle East, the delivery of its first electric vehicles in Indonesia, and the groundbreaking of a new assembly plant.

VinFast’s strategic approach has garnered government support in the markets it enters. In Indonesia, for example, the company is not only selling electric vehicles but also contributing to the country’s long-term EV ambitions by strengthening the supply chain and developing a skilled workforce. This collaborative approach positions VinFast as a valuable partner in the transition to a more sustainable future.

VinFast has also taken another significant step in its global expansion with the groundbreaking of a facility in India, the world’s third-largest automotive market.

The manufacturing unit in Thoothukudi, Tamil Nadu, is expected to create jobs for highly skilled workers in the region and contribute to the state’s goal of becoming the electric vehicle capital of South Asia.

As VinFast continues to expand its operations worldwide, its impact on the industry is likely to increase, even amidst fluctuating market conditions.

VinFast’s Diversified Approach to Electric Mobility

VinFast is not only focused on capturing market share but also on driving the global transition to electric transportation. Under the visionary leadership of its founder, the company has been instrumental in overcoming various challenges and uncertainties in the automotive industry.

Rising interest rates, a weakening global economy, and potential declines in consumer confidence could pose risks to the demand for electric vehicles. To mitigate these challenges, VinFast has adopted a diversified product strategy that ensures a sustainable revenue stream regardless of geopolitical or macroeconomic changes.

The company has created a comprehensive electric mobility ecosystem, encompassing electric buses, scooters, e-bikes, and cars. Its passenger car lineup caters to a wide range of consumer preferences and budgets, offering options from compact mini e-SUVs to spacious electric SUVs.

This diverse product portfolio positions VinFast to capitalize on various market segments and maintain its competitiveness in a rapidly evolving industry.

VinFast’s European Expansion Strategy

The Vietnamese electric vehicle manufacturer is dedicated to providing European consumers with a seamless electrification experience. Beyond delivering high-quality vehicles, the company has focused on establishing five-star after-sales and service policies to foster customer satisfaction and confidence.

To enhance the charging experience for its European customers, VinFast has partnered with Bosch, a leading global supplier of automotive technology. This collaboration grants VinFast owners access to Bosch’s extensive network of 700,000 charging points across 30 European countries, ensuring freedom and convenience for long-distance travel.

Additionally, VinFast has entered into a partnership with Mobivia, a prominent European automotive repair and maintenance brand. This agreement expands access to a comprehensive aftersales service network for VinFast customers in France and Germany. Mobivia’s 1,200 service centers offer high-quality services, including warranty processing, maintenance recommendations, and the provision of new equipment and accessories.

By carefully preparing a comprehensive service system and charging infrastructure before officially entering the European market, VinFast has demonstrated its commitment to supporting its customers and facilitating a smooth transition to electric vehicles.

In an increasingly dynamic and uncertain global landscape, VinFast’s multi-market, multi-product strategy and exceptional service offerings position the company as a strong contender in the global automotive industry.

Hashtag: #VinFast

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