Home / Knowledge / News / Apparel/Garments / Garment sector at ease with sufficient export orders on hand
Garment sector at ease with sufficient export orders on hand
Dec '10
The domestic garment and textile firms in Vietnam are optimistic about the coming year 2011, as majority of these firms have sufficient export orders to keep them busy till first half of next year.

Saigon 3 Garment Joint Stock Company has inked deals for supplying Japanese firms with millions of jeans costing around US $50 million during the first two quarters of next year. Thus, the company registered a rise of 20 percent in the value as well as volume of export orders for first two quarters of 2011 as over the corresponding period last year.

Le Thi Thanh, Deputy General Director of Phuong Dong Garment Joint Stock Company, too, revealed that his company has inked contracts for exporting five million garment products by May 31, 2011. He also mentioned that the firm, before booking further orders, should consider if it really has the capacity to fulfil those contracts.

There has also been a rise of over 15 percent in the export contracts that other big garment and textile firms like Thang Loi, Viet Tien, Gia Dinh, Nha Be, Viet Thang and Phong Phu inked for the year 2011.

The private garment firms are no longer apprehensive about the dearth of orders as it used to happen during last few years, due to the sufficient inflow of product orders.

Like for instance, Minh Chau Garment Company, has already contracted to manufacture 200,000 garment products by close of the first quarter of 2011, thus ensuring employment for over 200 persons during the period, the company's Director Nguyen Thi My Linh said.

Pham Xuan Hong, Deputy Chairman of the Viet Nam Textile and Apparel Association (Vitas) said that the signing of long-term contracts for exports by garment firms have its own pros and cons.

On one hand, these long-term contracts provide the firm a platform for devising a steady production and trading strategy as well as raise the job security of workers, but on the other hand, the firms may be at disadvantage if the export prices rise. Thus, it is advisable for the firms to enter into such long-term export contracts that are specific about the quantity of exports and are also flexible to alter the export prices for every quarter depending on the market rate fluctuations.

Vu Duc Giang, Vitas Chairman, stated that the garment sector is likely to generate revenues worth over $11 billion from exports this year. While it is estimated to earn around $4.5 billion even after deducting the cost of import of raw materials from the gross profits, which is 18 percent above the revenues generated last year.

Fibre2fashion News Desk - India

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Awen Delaval

'Natural fibres are appreciated for traditional authenticity'

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Marten Alkhagen
Swerea IVF AB

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

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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