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Vietnam garment firms increase local retail presence
01
Feb '12
Several Vietnamese garment businesses are enhancing their domestic retail presence to retain their hold over the home market, in view of intensifying competition from overseas retailers.

Several global brands like AEON, Warehouse, E-Mart, The Gap and Karen Millen have recently penetrated into Vietnamese market.

In order to compete with these retailers and retain their market share, Vietnam's domestic players are enhancing their presence in the home market by opening new retail chain outlets.

The Gap, a leading garment retailer from US, recently launched two retail outlets in HCM City and intends to launch more outlets in HCM City and Ha Noi during the year.

Vinatex Mart, Vietnam National Textile and Garment Group's retail textile and garment departmental store, launched five outlets in HCM City and in the provinces of Tay Ninh, Hoa Binh, Gia Lai and An Giang in December last year with a total outlay of VN$ 100 billion (US$ 4.8 million).

Vinatex Mart is planning to launch 200 outlets across Vietnam by 2015, 12 of which would be launched this year itself. This would take the total number of Vinatex outlets across Vietnam to 75 by the end of this year.

Likewise, the Ha Noi Textile and Garment Joint Stock Company, which presently operates with nine outlets and 69 agents in the country, is also looking forward to enhance its presence in the domestic market, and has recently started Hanosimex Trade Centre in Ha Noi's Ha Dong District.

Fibre2fashion News Desk - India

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