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Export enterprises must pay heed to local fashion

Nov '08
A recent study shows that Vietnam has a high potential fashion market. Statistical reviews have put light on this fact, that demand for fashionable clothes has an annual growth rate of 30 to 40 percent.

However, what is noteworthy is that, local garment companies, instead of focusing on the domestic requirements, which has astounding opportunities, are catering to demands of the export markets.

Observing the huge opportunities in the region, international brands from countries like France, Italy, the US, and Spain, have entered the market and acquired 60 percent market share.

Even fashionable garments from Asian countries like China, South Korea, Thailand and Singapore are quite popular among the younger generation of the nation.

Most importantly, China, one of the biggest competitors of the country in the global export market, has been able to attract local people with their reasonable priced clothing.

Experts are of the opinion, since business prospects for fashionable garments is enormous in the country, domestic enterprises should, now, pay heed to the local demands and must invest more in design, research and development. They should also promote their products locally, and automatically their revenues would increase. This in turn would help them to make their mark in both domestic and international arena.

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