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Apparel & footwear struck with same malady
06 Apr '09
1 min read
The footwear industry had been riding high in the past few years, akin to the growth of the textile and garment industry in Vietnam. But since the unfolding of the global economic crisis, both the sectors have been hit hard, with the footwear sector, in particular has been hit the hardest.
Again, both sectors had created very good market shares in global markets, but had a negligible presence in the domestic markets. But now the economic crisis has made both industries look inwards at local markets which for long have been dominated by Chinese and Thai brands.
Both the sectors have been hit by the same maladies. Just like the apparel sector could not lure the young generation due to outdated designs, the footwear industry also did not innovate and also carries a poor perception of quality among domestic consumers.
Among other factors common to both sectors, a lack of dealer-distributor network also is responsible for both sectors not being able to penetrate local, a big and important requisite for establishing base in domestic markets.
Again, both sectors had created very good market shares in global markets, but had a negligible presence in the domestic markets. But now the economic crisis has made both industries look inwards at local markets which for long have been dominated by Chinese and Thai brands.
Both the sectors have been hit by the same maladies. Just like the apparel sector could not lure the young generation due to outdated designs, the footwear industry also did not innovate and also carries a poor perception of quality among domestic consumers.
Among other factors common to both sectors, a lack of dealer-distributor network also is responsible for both sectors not being able to penetrate local, a big and important requisite for establishing base in domestic markets.
Fibre2fashion News Desk - India
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