Vietnam’s growing ambitions reshape the market landscape 

On August 7, Moonfolks, one of Southeast Asia’s award-winning independent advertising networks, officially launched its operations in Vietnam. The move marks a strategic expansion aimed at capitalizing on the country’s rapidly developing digital economy and the growing ambitions of Vietnamese businesses seeking to expand into international markets.

Moonfolks Vietnam will be led by Livio Grossi as Executive Creative Director and Managing Partner. With more than a decade of experience in Vietnam, Grossi most recently served as Executive Creative Director at Dentsu Redder. His work has received recognition from international awards including The One Show, One Asia, New York Festivals, Adfest and MADstars.

The launch also marks the return to Vietnam of Anish Daryani, Founder and CEO of Moonfolks. Before building his business in Indonesia, Daryani worked in Vietnam between 2012 and 2016.

According to Daryani, changes in urban development, incomes, capital markets and technology adoption indicate that Vietnam is entering a new stage of economic development. Consumers are increasingly looking beyond spending, placing greater emphasis on saving, investment and improving their quality of life.

At the same time, the digital economy and e-commerce are emerging as important growth drivers. According to data cited by Moonfolks, Vietnam’s digital economy reached more than US$39 billion in 2025, with e-commerce accounting for a significant share.

These developments are creating opportunities for Vietnamese companies to move beyond the domestic market and build brands and competitive capabilities across Southeast Asia. Indonesia, in particular, stands out because of its large population and consumer market.

Daryani said Vietnam and Indonesia share several characteristics, including comparable consumer purchasing power, rapid digitalization, the growth of social commerce and the increasing influence of creators and key opinion consumers (KOCs). However, differences in culture, market size and regulatory environments require businesses to develop market-specific strategies.

Building brands on local strengths

Moonfolks is bringing its “Audacious Growth” model to Vietnam, combining brand building, digital and social media, public relations and commerce activation within an integrated system.

The goal is not simply to help businesses capitalize on the cost advantages associated with “Made in Vietnam”, but to help them take their intellectual property, design capabilities and brand stories to international markets.

Daryani identified three priorities for Vietnamese businesses seeking to expand across Southeast Asia: combining AI with local creators and KOCs; pursuing sustainability through verifiable practices; and developing a deeper understanding of local cultures.

AI can help businesses analyze consumers and manage creator networks across multiple markets. However, technology cannot replace local understanding. A campaign that succeeds in Ho Chi Minh City cannot necessarily be replicated unchanged in Jakarta, Bangkok or Kuala Lumpur.

Businesses therefore need to preserve their core identity while adapting to the cultural, regulatory and consumer characteristics of each market. According to Daryani, this approach can also help Vietnamese brands turn their cultural heritage into a form of soft power as they enter regional markets.

Moonfolks said it would develop an ecosystem of partnerships with communities, creators and industry players in Vietnam, rather than approaching the market solely from a competitive perspective. Grossi said Vietnam’s next chapter of creativity still has significant room to grow, and Moonfolks Vietnam aims to help bring the country’s creative output to international audiences.

With its entry into Vietnam, Moonfolks aims to build a bridge between local creative capabilities and the wider Southeast Asian market. More broadly, the move reflects a growing trend among Vietnamese businesses: as they look beyond domestic borders, the challenge is no longer simply to export products, but to build brands capable of competing and creating lasting recognition in individual markets.