The rise of Vietnam’s global challenger

*This article is adapted from * Tech Collective

How many global Vietnamese brands do you know? Well, we had a chance to learn more about one of the most exciting brands to come out of Vietnam in a while. Coolmate represents a new wave of Southeast Asian brands that are no longer content with being efficient manufacturers for the world. They want to be the brands the world buys. Vietnam’s rise as a regional innovation and production hub has given companies like Coolmate the confidence to scale beyond national borders, backed by a generation of digital native consumers who value quality, regional identity, and homegrown stories that feel authentic rather than manufactured.

Across Southeast Asia, the apparel and performance lifestyle market is shifting. Younger consumers are choosing brands that reflect their daily routines, their cultural context, and their values around comfort, versatility, and identity. Regional players like Love, Bonito have already shown that Southeast Asian brands can compete with global names by understanding real customer needs and designing for Asian bodies and climates. At the same time, global players such as Lululemon are expanding across ASEAN, setting a new standard for premium positioning, community building, and lifestyle marketing. Coolmate enters this landscape with the advantage of a strong digital foundation, a loyal male customer base in Vietnam, and growing recognition that Made in Vietnam now signals design, agility and innovation, not only cost efficiency.

Coolmate’s Series C investment round reflects this shift in ambition. Vertex Growth, Cool Japan Fund and YoungOne CVC each bring different strengths that extend beyond financing. Their involvement mirrors broader trends in the region, where Southeast Asian brands are partnering with global supply chain leaders, cultural institutions and scale-up specialists to accelerate international expansion. Vietnam is becoming one of Asia’s fastest-growing manufacturing and innovation ecosystems, and investors see Coolmate as a homegrown brand ready to move from national success story to regional contender.

This expansion comes at a moment when offline retail is rebounding across Southeast Asia. Consumers expect seamless integration between online and offline, instant fulfilment, and stores that offer experiences rather than transactions. At the same time, category expansion into womenswear places Coolmate in a market where expectations are higher, competition is stronger, and differentiation requires more than aesthetic appeal. Coolmate’s move toward a performance lifestyle identity signals a larger trend in the region: brands must build emotional relevance, invest in community, and understand cultural nuance to thrive across borders.

We spoke to Pham Chi Nhu, CEO & Founder of Coolmate, and James Lee, General Partner, Vertex Growth Fund, about how Coolmate plans to turn its Vietnamese roots into a regional advantage. It covers the evolution of its brand identity, the strategic value of its Series C investors, its entry into women’s activewear, its approach to experiential retail, and the supply chain innovations that support its growth ambitions. The interviews reveal a company preparing to compete not just as a Vietnamese brand expanding outward, but as a modern Southeast Asian player shaped by digital insights, community credibility, and manufacturing strength.

Pham Chi Nhu (PCN): “Made in Vietnam for the World” has always been more than a slogan, we believe that Vietnam can create world-class products and brands, not just manufacture them for others.

As we expand into Southeast Asia, that positioning doesn’t disappear; it evolves. Our goal is not to export “Vietnamese identity” as a label, but to share the values behind it: quality, authenticity, and responsibility. These are universal, and they resonate strongly across the region.

At the same time, we recognise that each market has its own culture and pride. So instead of a one-size-fits-all approach, we’ll localise the storytelling and community experience while keeping the same core brand DNA.

In other words, in Vietnam, we represent pride in local craftsmanship; in the region, we represent a modern Southeast Asian spirit — a brand that’s digital-first, inclusive, active and forward-looking.

James Lee (JL): What excites us about Coolmate is that it isn’t trying to ‘borrow’ global identity — it’s exporting Vietnamese excellence. The brand proves that ‘Made in Vietnam’ is no longer a cost label; it’s a mark of design, quality, and agility. As Coolmate expands into Southeast Asia, this authenticity will resonate with a new generation of consumers who take pride in regional stories done well.

With the Series C funding led by Vertex Growth and participation from Cool Japan Fund and YoungOne CVC, how will these partnerships help Coolmate navigate the complex supply chain, logistics, and retail networks across Southeast Asia?

PCN: The Series C partnerships bring not just capital, but strategic strength that directly supports Coolmate’s regional expansion.

Vertex Growth will play a key role in helping Coolmate scale from a fast-growing national brand to a regional performance lifestyle platform. They bring deep expertise in regional expansion, digital transformation, and organizational scaling, helping us build the right foundations in governance, talent, and growth strategy to compete across Southeast Asia.

Cool Japan Fund, a government-backed investment fund established to promote the global expansion of products and services that embody Japan’s unique lifestyle and culture, contributes not only capital but also strategic expertise in product innovation, sustainability, and cultural collaboration. The partnership will strengthen Coolmate’s R&D and design capabilities, help integrate Japanese quality and creativity into Vietnamese manufacturing, and support new initiatives that leverage Japanese IP content to develop official merchandise and expand overseas sales — particularly in Vietnam and other Southeast Asian markets.

YoungOne CVC, from one of Asia’s leading apparel and textile groups, gives us access to a powerful supply-chain and production network across multiple countries. This partnership helps Coolmate scale responsibly — maintaining product quality while optimizing manufacturing and logistics efficiency throughout Southeast Asia.

Together, these investors enable us to move from being a fast-growing D2C brand in Vietnam to becoming a regional performance-lifestyle player with the infrastructure, operational know-how, and partnerships to expand sustainably and competitively.

JL: The partnership between Vertex Growth, Cool Japan Fund, and YoungOne CVC isn’t just financial. It’s a bridge across manufacturing, market access, and cultural capital. Together, we bring complementary networks that can help Coolmate scale from Vietnam’s digital backbone into Southeast Asia’s multi-channel retail ecosystem.

The “Go Women” initiative signals a significant shift from a men’s-only brand to a performance lifestyle brand for all. How will Coolmate differentiate itself in a competitive women’s activewear space already served by both regional and global brands like Love, Bonito, and Lululemon?

The “Go Women” initiative is not just a category expansion — it’s a statement of purpose. It reflects our belief that performance, confidence, and authenticity belong to everyone, not just men.

But we also know the women’s activewear space is highly competitive, with strong players like Love, Bonito and Lululemon. That’s why Coolmate’s approach is focused on local insight, real needs, and emotional connection, not just aesthetics.

We designed it for Asian women, built to global standards. We’ve also invested heavily in R&D, fit development, and quality control, led by our product team who used to work in international brands. Every piece is made to suit the Asian body shape, climate, and lifestyle, something global brands often overlook.

Coolmate Women Active is not only for the gym, it’s designed for movement in everyday life. Each product balances comfort, function, and style, allowing women to go from workout to work to weekend effortlessly. While global brands often focus on perfection or performance achievement, we celebrate real women, their stories, energy, and individuality. Our tone is inclusive, down-to-earth, and rooted in the joy of movement, not pressure or comparison.

We’re building from the ground up with local sports and wellness communities, running clubs, yoga studios, pickleball courts, creating real connections and experiences, not just campaigns.

In short, “Go Women” is Coolmate’s evolution from a men’s basics brand to a Vietnamese performance lifestyle brand for all, differentiated by authentic storytelling, local relevance, and world-class quality.

Offline retail now contributes to 40 percent of your 2030 revenue goals. How will Coolmate’s physical presence reflect its technology-driven roots, especially as SEA consumers increasingly expect experiential retail and instant fulfilment?

Offline retail is a key part of our next growth chapter — but we’re not building traditional stores; we’re building “digital-first retail experiences.” Our goal is to make every Coolmate store feel like a seamless extension of our online ecosystem — powered by data, personalisation, and instant fulfilment.

Our store locations, layouts, and product assortments are all guided by data from our online platform: so each store reflects real customer behaviour in its area. This keeps operations efficient and experiences highly relevant.

Every store connects directly to our e-commerce and CRM systems, enabling customers to browse online, try in-store, order via QR, and have products delivered within hours or picked up instantly. It’s a true “buy anywhere, receive anywhere” model.

Instead of purely transactional spaces, Coolmate stores are built for interaction and discovery; places where customers can test products, learn about fabric innovations, or join sports and lifestyle events that strengthen our community presence. From self-checkout to mobile payment to digital product education screens, tech enhances convenience, but our people bring warmth, authenticity, and the Coolmate personality that customers already love online.

In short, our physical stores won’t be a step back from digital — they’ll be a real-world embodiment of our tech DNA, combining the speed of e-commerce, the trust of community, and the joy of experience.

JL: The beauty of Coolmate’s approach is that even as it goes offline, it never loses its D2C DNA. As a truly digital-native vertical brand, every store interaction feeds back into data, inventory, and design — that’s how a modern brand keeps its edge while growing physical presence.

Vietnam’s supply chain capabilities are central to your strategy. As manufacturing costs rise across the region, how will you maintain the “Vietnam-based supply chain excellence” that underpins your competitive edge?

Vietnam’s supply chain has always been our backbone, it’s what allows Coolmate to deliver quality, agility, and fair prices. But as manufacturing costs rise across the region, staying competitive means evolving that strength into true supply-chain excellence, not just cost efficiency.

Instead of chasing the lowest cost, we’re deepening relationships with select factories and investing in shared R&D, automation, and sustainable practices. This ensures consistent quality and innovation while improving productivity over time.

We’re digitizing our entire supply chain, from demand forecasting to production planning and inventory tracking, using data to optimize efficiency, reduce waste, and shorten lead times. That’s how we maintain margin discipline even as costs rise.

We focus on higher-value products, leveraging Vietnam’s craftsmanship and technical know-how to compete on quality, not price. Our goal is to position “Made in Vietnam” as a mark of excellence — where design, function, and sustainability justify the value.

Ultimately, Coolmate’s competitive edge isn’t about being the cheapest manufacturer — it’s about building a smart, transparent, and resilient Vietnam-based supply chain that can stand alongside the best in the world.

JL: Vietnam’s manufacturing base is no longer just a cost advantage – it’s an innovation advantage. Coolmate’s vertically integrated model gives it unmatched speed from design to shelf. As costs rise across Asia, efficiency will come not from cheaper labour, but from smarter supply chains — and Coolmate has already built that muscle.

As you move toward your 2030 targets of 40 percent women’s revenue, 30 percent international sales, and 40 percent offline contribution, what key performance metrics will you prioritise to ensure Coolmate’s growth remains sustainable in the SEA market?

As we move toward our 2030 goals: 40% women’s revenue, 30% international sales, and 40% offline contribution, our focus is not just on growth, but on sustainable, high-quality growth.

We’ll measure success through a set of balanced metrics across brand, operations, and customer experience, Customer Lifetime Value (CLV) and retention. Retention and repeat rate will remain our north stars. Sustainable growth comes from building long-term relationships, not just acquiring new customers.

We also look at category and channel profitability. As we expand into women’s and offline, we’ll track contribution margin by category and channel, ensuring each growth driver is efficient, not subsidized. With inventory efficiency and sell-through rate, we believe supply-chain agility is key in SEA. We’ll monitor inventory turnover, sell-through, and return rates to balance responsiveness with minimal waste.

We look at overall brand health and engagement, where awareness, consideration, and community engagement, both online and offline, will indicate whether our expansion is strengthening the Coolmate brand, not diluting it. With sustainability and operational excellence, we measure metrics such as carbon reduction, material traceability, and local sourcing ratio will be integrated into our growth scorecard to ensure we scale responsibly.

In short, we’ll balance commercial performance with customer trust and operational discipline. Growth at Coolmate will never be measured by size alone, but by how well we build a resilient, loved, and responsible Vietnamese brand across Southeast Asia.

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