Name

Openasia

Legal name

Openasia Group

Website

https://openasiagroup.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Luxury Goods Distribution & Lifestyle Services

NAICS

Furniture, Home Furnishings, Electronics, and Appliance Retailers (449), Boat Dealers (441222), Scenic and Sightseeing Transportation, Water (48721), All Other Specialty Food Retailers (445298)

SIC

Retail-Apparel & Accessory Stores (5600), Retail-Eating & Drinking Places (5810), Retail-Home Furniture, Furnishings & Equipment Stores (5700), Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Luxury Boutique & Lifestyle Resorts (THAGACAO)

akta.pro secondary industry

Luxury Eco-Resorts (THAGACAK)

Keywords

• Luxury brand distribution
• Premium hospitality services
• Wellness resort operations
• Yacht sales and charter
• Vietnamese artisan craftsmanship

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Supply Chain, Infrastructure, Others

Revenue model

1. Luxury Brand Distribution (Tam Sơn): Tam Sơn distributes ~25 international luxury brands (Hermès, Patek Philippe, Saint Laurent, Kenzo, Hugo Boss, Bottega Veneta, Vacheron Constantin, Chopard, Piaget, Jaeger-LeCoultre, etc.) through owned retail boutiques and multi-brand stores in Vietnam. Revenue is generated through retail sales margin. Tam Sơn accounts for more than half of Openasia's total revenue.
2. Own Brands (Hanoia, Alba): Hanoia (Vietnamese luxury lacquerware and lifestyle brand) and Alba (mineral water, wellness resort, hotels) are owned brands generating product sales and service revenue. Hanoia products are sold domestically and targeted for export to foreign markets. Alba Wellness Valley by Fusion generates hospitality revenue.
3. Yacht Distribution (Tam Sơn Yachting): Tam Sơn Yachting distributes luxury yacht brands (Azimut, Beneteau, Lagoon, Zodiac, Aquila) and provides marina services, charter services, and yacht management. Revenue from vessel sales, service contracts, and marina operations.
4. Hospitality & Restaurants: Press Club restaurant (Hanoi), La Table Hanoia (Hue), Marcel Gourmet Burger (Ho Chi Minh City) generate food and beverage revenue. Alba Wellness Valley resort generates accommodation and wellness service revenue.
5. Coworking & Professional Services: Toong operates 13 coworking space locations across 3 Indochinese cities. Omvest provides strategic outbound consulting and investment services. STS provides IT services (Data and ERP). Opal provides marketing and communications agency services.

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Openasia Group operates an integrated luxury lifestyle ecosystem in Vietnam spanning authorized retail distribution of ~25 international luxury brands (Hermès, Patek Philippe, Jaeger-LeCoultre, Piaget, Saint Laurent, Bottega Veneta, Chopard, Vacheron Constantin, etc.) through flagship subsidiary Tam Sơn; Vietnamese heritage brands (Hanoia lacquerware, Craftica furniture, Alba mineral water); a 50-hectare wellness resort (Alba Wellness Valley by Fusion); luxury yacht distribution and marina services (Tam Sơn Yachting representing Azimut, Beneteau, Lagoon, Zodiac, Aquila); fine dining restaurants (La Table Hanoia, Press Club, Marcel); and coworking spaces (Toong). The group sells directly to affluent Vietnamese consumers and serves as exclusive distribution partner for international luxury houses.

Product overview

Openasia Group is a Vietnam-based luxury lifestyle ecosystem with two main pillars: Openasia Village (consumer-facing brands) and Openasia Insiders (professional services). The portfolio includes Tam Sơn (leading luxury multi-brand retail distributor), Hanoia (Vietnamese lacquerware craftsmanship brand), La Table Hanoia (fine dining), Tam Sơn Yachting (luxury yacht distribution and services), Alba Wellness Valley (hot spring wellness resort), Alba Mineral Water, Marcel (French-inspired gourmet burger restaurant), Toong (coworking spaces), Craftica (premium furniture/lacquerware manufacture), Opal (marketing agency), Omvest (strategic consulting), and STS (IT/ERP services). The group employs over 2,000 people, operates more than 100 premium stores and restaurants, 4 hotels/wellness resorts, 2 yacht marinas, and 5 joint ventures.

Differentiator

Problem solved

Functional benefit

Brands

• Openasia Village: An ecosystem providing refined lifestyle products and services including luxury international brands, fashion, lifestyle, craftsmanship, restaurants and hotels
• Openasia Insiders
• Tam Son
• Hanoia
• Alba Wellness Valley
• Alba Mineral Water
• Marcel
• Toong
• Craftica
• Opal
• Omvest
• Front Row

Products and services

• Tam Sơn (Luxury Multi-Brand Retail Distribution) Leading retail platform distributing approximately 25 international luxury brands including Hermès, Saint Laurent, Kenzo, Hugo Boss, Bottega Veneta, Patek Philippe, Vacheron Constantin, Piaget, Jaeger-LeCoultre, and Chopard across fashion, watches, jewelry, and lifestyle categories. Operates owned boutiques on prime streets in Hanoi and Ho Chi Minh City. Accounts for more than half of Openasia's total revenue.
• Hanoia (Vietnamese Lacquerware Brand) In-house luxury Vietnamese lacquerware brand combining traditional craftsmanship with contemporary design, offering home décor, art pieces, and lifestyle objects that showcase Vietnamese savoir-faire under master artisan Ty.
• La Table Hanoia (Fine Dining) Fine dining culinary experience in central Hanoi blending Vietnamese and French gastronomic traditions, offering refined cuisine in a heritage setting.
• Tam Sơn Yachting (Luxury Yacht Distribution & Services) Vietnam's yachting pioneer and authorized distributor of luxury yacht brands Beneteau, Lagoon, Azimut, Zodiac, and Aquila Power Catamarans; operates Vinhomes Central Park Marina and Swanbay Yacht Club and provides full-service yacht sales, charter, marina access, and management. Won Best Handover award at Azimut Dealers Meeting 2025 and Domestic Dealer in Asia at Yacht Style Awards 2025.
• Alba Wellness Valley by Fusion (Wellness Resort) 50-hectare internationally awarded wellness resort nestled in the Trường Sơn mountains in Huế, central Vietnam; offers hot spring onsen, spa, yoga, tai chi, deep acupressure therapy, and accommodation. Operates under a partnership with Fusion.
• Alba Mineral Water Natural mineral water with balanced mineral content, sourced and bottled from the mountains in central Vietnam by the Alba group; produced at the Alba mineral water facility.
• Marcel Gourmet Burger (Restaurant) French-inspired gourmet burger restaurant in Ho Chi Minh City fusing French family warmth with Saigon's spirit; serves fresh seasonal dishes and signature burgers made daily with no frozen products. Fully acquired (100%) by Openasia by end of 2024.
• Toong (Coworking Spaces) Pioneering creative co-working brand in Vietnam with 13 locations across 3 Indochinese cities; each space designed with local cultural identity and architecture to nurture creativity and professional development.
• Craftica (Premium Furniture Manufacture, formerly Thiên Hồng) Premium furniture manufacture specializing in high-end lacquerware craftsmanship; acquired by Openasia Group in 2011 and renamed Craftica in 2025 to reflect expanded market reach and global positioning. Operates lacquerware workshops in Bình Dương and Hà Thái village, Hanoi.
• Opal (Marketing & Communications Agency) In-house marketing and communications agency within the Openasia Insiders pillar, solving brand and communication problems with creativity for the group and selected external clients.
• Omvest (Strategic Consulting & Investment Services) Pioneering outbound consulting firm providing strategic investment and business advisory services for locally-based companies; formerly operator of the Starbucks franchise in Vietnam and joint-venture partner of Lafarge, Gras Savoye Willis, and CFAO (Audi). Investment functions moved back to Openasia Group in 2024.
• STS (IT, Data & ERP Services) IT services backbone supplier for Openasia Group, providing Data and ERP solutions that support the group's digital transformation and operations; also serves the Openasia digitalization journey and One Openasia innovation program.
• Tam Sơn Front Row (Multi-Brand E-Commerce) Tam Sơn's multi-brand e-commerce platform for fashion and lifestyle products, launched in 2024 as a digital channel complementing the physical retail boutique network.

Quantifiable outcome

• Tam Sơn Yachting won 'Domestic Dealer in Asia' at Yacht Style Awards 2025 out of 13 leading yachting companies in the region
• +3 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core and minor.

• Jaeger-LeCoultrecoreChannel Partner/ Reseller/ Distributor · 1 December 2025Tam Sơn opened an official Jaeger-LeCoultre boutique on Tràng Tiền Street, Hanoi in December 2025. The boutique showcases the Reverso, Atmos, Polaris, and Master Ultra Thin collections — nearly two centuries of watchmaking heritage from Switzerland's Vallée de Joux.
• AzimutcoreChannel Partner/ Reseller/ Distributor · 6 September 2025Tam Sơn Yachting is the authorized distributor of Azimut yachts in Vietnam, including the Azimut Grande 32 Metri superyacht. The 'Best Handover' award at Azimut Dealers Meeting in Italy recognized Tam Sơn Yachting's world-class handover process for the 32-metre superyacht delivered in Ha Long Bay in January 2025.
• Aquila Power CatamaranscoreChannel Partner/ Reseller/ Distributor · 1 June 2025Tam Sơn Yachting became the exclusive distributor for Aquila Power Catamarans — a leading American brand of power catamarans — in Vietnam from June 2025. The partnership brings Aquila's Offshore, Sport, Coupe, Yacht & Luxury catamaran ranges to the Vietnamese market, offering flexible, high-performance vessels suited to Vietnam's climate and boating lifestyle.
• HermèscoreChannel Partner/ Reseller/ Distributor · 16 January 2025Tam Sơn has been Hermès's exclusive partner in Vietnam since 2008. In 2025, Tam Sơn opened the largest Hermès store in Vietnam at 24 Tràng Tiền — the 4th largest Hermès in Southeast Asia, spanning three floors in a historic Art Deco building. The boutique features French-Vietnamese design harmony including mosaic flooring and rattan-woven walls with dragon-scale patterns.
• PiagetcoreChannel Partner/ Reseller/ Distributor · 1 January 2025Tam Sơn reopened the Piaget boutique at 61 Lý Thái Tổ, Hanoi, embracing the 'Maison of Extraleganza' design language inspired by light and gold. The 120-square-meter space celebrates 150+ years of Piaget's watchmaking and jewelry-making mastery, featuring the 'Elegance of High Watchmaking' wall.
• Patek PhilippecoreChannel Partner/ Reseller/ Distributor · 1 January 2025Tam Sơn is the authorized Patek Philippe retailer in Vietnam with boutiques in both Hanoi and HCMC. Patek Philippe's 4th-generation president Mr. Thierry Stern visited Vietnam personally for the HCMC store opening, praising Tam Sơn's deep understanding of the brand and passion for watches.
• FusioncoreStrategic or Co-development Partner · 1 January 2018Alba Wellness Valley by Fusion opened in Huế in 2018 as a 50-hectare wellness resort. The partnership combines Openasia's Alba natural mineral water heritage with Fusion's wellness hospitality expertise. The resort offers Japanese onsen, natural hot springs, yoga, tai chi, and deep acupressure therapy. Fusion rebranded as Alba Wellness Valley by Fusion.
• ToongcoreStrategic or Co-development Partner · 1 January 2017Openasia invested in Toong from 2016 and by end of 2024 increased its ownership stake and assumed direct management. Toong operates 13 coworking spaces across 3 Indochinese cities, designed with local cultural identity and architecture. The partnership reflects Openasia's vision for inspiring workspaces that unlock individual potential.
• Beneteau, Lagoon, ZodiaccoreChannel Partner/ Reseller/ Distributor · 1 January 2017Tam Sơn Yachting is the authorized distributor of Beneteau (motorboats), Lagoon (catamarans), and Zodiac (inflatable boats) yacht brands in Vietnam, complementing Azimut and Aquila in the portfolio.
• Marcel Gourmet BurgercoreStrategic or Co-development Partner · 1 January 2017Openasia made its first strategic investment in Marcel Gourmet Burger in 2017. By end of 2024, Openasia fully acquired (100% ownership) Marcel Gourmet Burger, bringing it into the Group as a full member company. Marcel blends French culinary heritage with Saigon's spirit, serving fresh, seasonal dishes and signature burgers made fresh daily with no frozen products.
• StarbucksminorChannel Partner/ Reseller/ Distributor · 1 January 2012Omvest obtained Starbucks franchise rights in Vietnam and opened the first Starbucks store in HCMC in 2012.
• Audi (via CFAO)minorChannel Partner/ Reseller/ Distributor · 1 January 2008Omvest partnered with CFAO to bring Audi to Vietnam, opening the first showroom in HCMC in 2008.
• Morgan StanleyminorStrategic or Co-development Partner · 1 January 2002Openasia Consulting established a partnership relationship with Morgan Stanley in 2002, with Openasia Consulting leading the market in strategy and investment consulting in Vietnam at the time.
• LafargeminorStrategic or Co-development Partner · 1 January 2001Omvest became a joint venture partner of Lafarge (cement company) and Gras Savoye Willis (insurance brokerage firm) as part of its strategic investment activities.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Kering: French luxury group whose brands Saint Laurent, Bottega Veneta, Balenciaga, and others are distributed by Tam Sơn. Relevant as brand principal and broader luxury incumbent shaping the Vietnamese retail landscape.
• LVMH: World's largest luxury conglomerate and owner of many brands Openasia distributes (Hermès is independent but other Tam Sơn brands like Dior, Kenzo, Loewe, Saint Laurent, Bottega Veneta, Chaumet belong to LVMH/Kering families). Relevant as both brand principal and potential competitor if LVMH takes distribution in-house in Vietnam.
• Richemont: Swiss luxury group owning Cartier, Piaget, Vacheron Constantin, Jaeger-LeCoultre — all distributed by Tam Sơn. Relevant as brand principal whose strategy decisions directly shape Openasia's luxury watch/jewelry retail business in Vietnam.
• Swatch Group: World's largest watch conglomerate including Omega, Longines, Breguet, Blancpain. Relevant to Openasia as a brand principal competitor in Vietnam's luxury watch distribution alongside Richemont's portfolio distributed by Tam Sơn.

Direct peers

• Lotte Duty Free: Korean duty-free luxury retailer operating in Vietnam and across Asia. Comparable as a multi-brand luxury distribution platform serving affluent travelers with premium brand portfolios, similar to Tam Sơn's authorized distribution model.
• DFS Group: LVMH-owned global luxury travel retail operator with locations across Asia-Pacific including Vietnam airports. Most directly comparable to Openasia's Tam Sơn as a multi-brand luxury distributor serving affluent Asian consumers with curated brand mixes.
• Siam Piwat: Thai luxury retail and real estate conglomerate operating Siam Paragon and other premium destinations with multi-brand luxury curation. Comparable to Openasia as an integrated luxury lifestyle ecosystem combining retail, hospitality, and cultural experiences in a fast-growing Southeast Asian market.

Regional players

• Hyundai Department Store: Korean luxury department store operator with multi-brand luxury goods distribution. Comparable to Openasia's Tam Sơn as an established authorized distributor of international luxury brands in an Asian market with curated multi-brand retail formats.
• Prince Group (Cambodia): Cambodian diversified conglomerate with luxury real estate, retail, and lifestyle operations across Indochina. Comparable as an Indochina-focused diversified lifestyle conglomerate serving UHNWI consumers, though smaller and less luxury-focused than Openasia.
• Central Retail: Thailand-based retail conglomerate with luxury department store operations (Central Embassy, Central World) and growing Vietnam presence through Central Department Store. Comparable to Openasia as a regional luxury retail operator with multi-brand distribution capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/3963944/admin

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Openasia