Japanese clothing firm Stripe International has purchased a majority stakeholding in Vietnamese firm Global Fashion.

The 70-per-cent shareholding will give Stripe a controlling interest in Vietnamese brand Vascara. It is the second Vietnamese apparel company to be acquired by the firm since its purchase of Nem Group two years ago.

“We see the potential of the Vietnamese fashion market, especially the footwear and bags industry,” said Stripe Saigon general director and CEO Harigae Tsutomu.

“Vascara is a brand that has great potential for development, so we believe that the experience and technology accumulated from many markets around the world will accompany and support Vascara to accelerate development, expand the system of stores and serve millions of Vietnamese consumers.”