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Tiffany enters Vietnam as world's richest man expands LVMH Asia

Crazy rich Asians top sales for French luxury group that also owns Dior, Moet

Tiffany unboxed a new store in Ho Chi Minh City, marking its foray as a direct investor in Vietnam. (Photo by Lien Hoang)

HO CHI MINH CITY -- Tiffany has unveiled its first jewelry shop in Ho Chi Minh City, courting well-heeled Vietnamese in the latest expansion for the brand since it was taken over by LVMH.

With a soft opening on Friday, the 186-year-old jeweler has increased its presence in Asia, the top region by sales for parent group LVMH. Tiffany has a distributor in Hanoi but directly runs the Ho Chi Minh City store. After a price battle to acquire the U.S. company, France's LVMH has spent aggressively on Tiffany's global revamp, from a Beyonce ad blitz to a shift toward direct operations.

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