Interviews
Clothing industry manages to increase market share to US
30 May '09
2 min read
The Customs in the US have recently released a report which states that the Vietnamese textile and apparel sector has been able to increase its market share to the US markets along with being among four countries which have been able to record positive growth in 2009.
The market share of the sector grew from 3.4 percent to 4.47 percent in 2009 when compared with the same period of the previous year. The industry is also looking forward to a period of growth in the next few quarters.
That this growth has come at a time when the worst recessionary trends have engulfed the US markets is by itself commendable. In fact the US is considered the epicenter of the economic crisis and has borne the maximum brunt.
In 2008, exports to the US markets from the textile and clothing sector in 2008 accounted for 54 percent of all exports from the industry. But at the same time the sector is trying to reduce dependence on the US markets by diversifying to newer markets like Japan and Russia.
The biggest difference according to exporters between the markets of the US and the EU, lie in the volumes of orders. While US retailers tend to order in hundreds of thousands of units, their EU counterparts are content with placing orders in thousands of units only.
The market share of the sector grew from 3.4 percent to 4.47 percent in 2009 when compared with the same period of the previous year. The industry is also looking forward to a period of growth in the next few quarters.
That this growth has come at a time when the worst recessionary trends have engulfed the US markets is by itself commendable. In fact the US is considered the epicenter of the economic crisis and has borne the maximum brunt.
In 2008, exports to the US markets from the textile and clothing sector in 2008 accounted for 54 percent of all exports from the industry. But at the same time the sector is trying to reduce dependence on the US markets by diversifying to newer markets like Japan and Russia.
The biggest difference according to exporters between the markets of the US and the EU, lie in the volumes of orders. While US retailers tend to order in hundreds of thousands of units, their EU counterparts are content with placing orders in thousands of units only.
Fibre2fashion News Desk - India
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