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Vinatex makes further inroads in domestic apparel market
14
Jul '14
courtesy: Vinatex Mart
courtesy: Vinatex Mart
Over the past five years, the Vietnam National Textile and Garment Group (Vinatex) has successfully made further inroads in the domestic apparel market, according to Hoang Ve Dung, deputy director general of Vinatex.
 
The implementation of the ‘Vietnam’s priority for Vietnam’ campaign during the last five years has received enthusiastic response from businesses, various government departments, organizations, and many consumers. In fact, the campaign has changed the mindset of many businesses, distributors and consumers, which has resulted in enterprises opting to produce goods of high quality to meet the needs of the majority of domestic consumers.
 
In this context, Vinatex and its member companies have been striving to produce garments for the domestic market, including for people of all ages and classes.
 
Mr. Dung said the development of the home market continues to be of strategic importance for Vinatex.
 
The domestic revenue of Vinatex Group was 15.74 billion dong in 2010, which increased by 18 percent to 18.518 billion dong in 2011, followed by an increase of 6.4 percent to 19.7 billion dong in 2012, and by 6 percent to 20.8 billion dong in 2013.
 
From January to June 2014, Vinatex’s inland revenue is estimated at 11.086 billion dong, which is an increase of 10 percent year-on-year.
 
Meanwhile, Vinatex has also expanded its product distribution system across the country. In 2013, the total count of stores and dealers of Vinatex member companies across the country increased by 4 percent year-on-year to 4,125. In 2014, the figure is likely to increase by 3.9 percent to 4,286.
 
In recent years, Vinatex has invested in raw material production, and the Group now has ability to form an integrated chain from production of cotton and synthetic fibres to yarn, fabrics, garments and trade in services.
 

Fibre2fashion News Desk - India

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