Home / Knowledge / News / Apparel/Garments / Vietnam's footwear industry to flourish this year: LEFASO

Vietnam's footwear industry to flourish this year: LEFASO

02
May '19
Despite Vietnam facing fierce competition from some countries in the Association of South East Asian Nations (ASEAN) region, the Vietnam Leather, Footwear and Handbag Association (LEFASO) forecasts that the demand for footwear products in the primary markets that the country caters to will remain high this year and the industry will continue to flourish.

Though the first quarter of this year saw several holidays, the footwear industry continued to witness a two-digit growth, according to a Vietnamese media report.

Footwear production in the first quarter was estimated at 62.9 million pairs of shoes, up 11.7 per cent over the same period last year. Footwear exports were estimated at $3.97 billion, up 15.3 per cent over the same period last year.

LEFASO estimates the industrial index of the footwear sector will go up by 11 per cent this year compared to last year, the industry will try to raise localisation ratio of footwear products to 60 per cent, and export of footwear will rank fourth and export of handbags will rank tenth.

Footwear and handbags will be in the list of top ten key export products of Vietnam, the industry body estimates.

A key advantage of Vietnam’s domestic footwear industry in future is China’s reduced focus on garment, textile and footwear and diverting attention to high-tech industries. Therefore, footwear and handbag processing orders will maintain a tendency to shift from China to Vietnam.

The US-China trade war will also affect domestic import and export and boost investment of foreign direct investment enterprises in the footwear industry.

Footwear manufacturers also have to deal with challenges like rising trade protectionism from import countries. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Messe Frankfurt

Textiles | On 16th Jun 2019

Finished products to dominate at Intertextile Shanghai

Finished product suppliers will dominate with their presence among...

Pic: CBRE

Textiles | On 16th Jun 2019

23% of warehouse leasing in India in 2018 for e-com: CBRE

Warehousing space leasing in India rose by over 45 per cent in 2018...

Pic: Amazon

E-commerce | On 16th Jun 2019

Amazon invests ₹2800 cr in India after closing China ops

Amazon has made a fresh investment of ₹2,800 crore in its Indian arm, ...

Interviews View All

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Nuno Venda, ROQ

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Atul Mittal,

Atul Mittal

Established in 1997, Pratibha Syntex produces over 60 million pieces of...

Jash Choraria,

Jash Choraria

Established in 2015 by <b>Jash Choraria</b>, Unifynd is a Mumbai-based...

Vasudevan LK,

Vasudevan LK

Epson is a world leader in digital imaging and printing solutions....

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

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

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

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

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2019

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

news category


Related Categories:

Advanced Search



Expand Close