Home / Knowledge / News / Apparel/Garments / Vietnamese garment exporters seek more orders
Vietnamese garment exporters seek more orders
07
Aug '12
Garment exporters in Vietnam are seeking more orders to survive in the midst of declining exports, owing to the ongoing public debt crisis in the EU nations.
 
According to the Vietnam Textile and Apparel Association (VITAS), the ongoing European debt crisis has resulted in market snags and declining export orders for the local apparel exporters, who are struggling to revive their lagging businesses. 
 
Several small-and medium-sized garment producers have lowered their production quantities due to the lack of demand, VITAS said. 
 
The Association expects the reduction in apparel export contracts for the EU market to continue till mid-2013, and is urging local apparel exporters to keep seeking export orders on their own.
 
Amidst the bad export situation, however, a leading Vietnamese apparel manufacturer has been able to grow its business by saving on production costs, including raw materials and electricity, and by managing to execute free-on-board (FOB) contracts.
 
During the last few months, the garment company took care of things like fabrics, accessories, trims, cutting, sewing, packaging, boxing and transportation to the port through FOB contracts.
 
In fact, the clothing firm founded a separate unit to implement FOB contracts. It recruited foreign managers to seek out contracts in countries like the US, the UK and France. The FOB contracts generated higher revenue than sub-contracts.
 
In addition, the company managed to avail business partners in the Russian markets by participating in international trade fairs for garments held in Russia. All this together resulted in the company posting a year-on-year increase of 20 percent in export value in the initial seven months of this year. 
 
Meanwhile, another Vietnamese apparel firm saw an increase in its export value because it could hold on to export contracts with big global brands during the low period. Since the company specializes in a variety of textile products and has a huge production scale, it could manage to sail through the bleak economic condition.
 

Fibre2fashion News Desk - India


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Urmil Arya

Sushila International, a well established textile organisation established ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

December 2017

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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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