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Vietnamese garment firms cut output for local market

11
Jun '12

 

Clothing manufacturers in Vietnam are resorting to reduction in their production meant for the domestic market, in view of te current economic recession.
 
Apparel companies are also shedding their existing plans to either develop new products or to increase production capacity, and are instead trying to continue their presence in the domestic market by making their brands familiar to shoppers.
 
Garment companies say it is difficult to earn 20 percent profit and pay interest on bank loans, owing to weak demand in Vietnamese market.
 
Chinese apparel items, which flood Vietnamese local market, are preferred by local people due to their lower price.
 
Vietnamese garments, although of superior quality than Chinese apparels, have higher price tags and hence, are not preferred by majority of Vietnamese shoppers, especially owing to high inflation currently prevailing in the country.
 
In the given scenario, some Vietnamese apparel companies are trying to lure buyers by offering 30-40 percent price discounts, while some other firms are introducing products that are affordable by majority of people.
 
In the premium market, global apparel brands have made inroads and have gained upper hand over Vietnamese products.
 
In such circumstances, Vietnam Textile and Apparel Association (VITAS), has urged the Government to take effective measures to support the country’s apparel industry.
 
 

Fibre2fashion Newsdesk - India


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