Home / Knowledge / News / Apparel/Garments / Vietnam apparel firms shift focus to domestic market
Vietnam apparel firms shift focus to domestic market
23
Apr '12
Vietnamese garment and textile companies are shifting their focus to domestic market, to counter a decline in exports witnessed in recent months.

The sales of clothing items and fabrics in Vietnam are on an upward trend, Vietnam Textile and Garment Group (Vinatex) said.

Companies like Phong Phu and Viet Thang registered revenues exceeding Vn$ 1 trillion (US$ 47.6 million) from domestic sales last year.

A survey carried out by Vinatex revealed that the Vietnamese local market seems to be very promising for apparel and textile firms, as consumer spending on clothes is only second to that of food.

The average monthly expenditure on clothing items among those surveyed was Vn$ 150,000 to Vn$ 500,000, which accounted for 18 percent of their overall spending, the survey revealed.

The study said nearly 70 percent of Vietnamese people went shopping for garments at least two times a month, during the survey period.

Vietnamese garment companies are widening their distribution system in the country and Vietnamese-made products are slowly making in-roads in the local market that is currently largely dominated by China-made products.

VinatexMart has grown to become the top retailer of Vietnamese-made garments and fabrics. Each of its leading apparel brands –Viet Tien, Phong Phu, May 10 and Nha Be –have over 1,000 retail stores spread throughout Vietnam.

This has been achieved by design diversification and brand development, in addition to expansion of distribution, according to Than Duc Viet, Executive Director of May 10.

The growth rate of Vietnamese garment sector is fairly good, despite the tight money supply situation, said Nguyen Tien Truong, Deputy General Director of Vinatex.

By 2015, Vietnamese apparel market is projected to grow to US$ 6-7 billion. To capture a major share in such a huge market, Vietnamese garment firms still have a long way to go.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search