Home / Knowledge / News / Textiles / Vinatex aims to raise revenue from domestic sales
Vinatex aims to raise revenue from domestic sales
14
Sep '13
Vietnam Textile and Garment Group (Vinatex) is aiming to increase its revenue from domestic sales to 50 percent of its total revenue, compared to a share of 30 percent in 2012, the company has said.
 
In recent years, members of Vinatex have made investments in manufacturing, focusing on innovative product design, and development and strengthening brands and distribution channels to expand market share in the domestic market, according to Vinatex general director Tran Quang Nghi, Vietnam Plus reported.
 
One of the solutions adopted by Vinatex to raise domestic consumption was to expand supermarket chain Vinatexmart. As a result, Vinatexmart currently owns 82 supermarkets in 28 provinces and cities across Vietnam.
 
In addition, members are also actively expanding Vinatex product showrooms and dealers in all provinces and cities with points of sale currently reaching about 4,000, Mr. Nghi said.
 
In 2012, Vinatex earned nearly 30 percent of its total revenue from domestic sales, compared to 15 percent a year earlier, and now the Group is targeting to increase its revenue from domestic sales to 50 percent of its total revenue, he added.
 
Vietnam has a domestic market of 90 million people, but the country largely depends on import of raw materials for its textiles and garments, and hence the domestic products are usually priced higher, and are made in accordance with the requirements of international buyers, which do not match the needs of local market.
 
Vinatex is one of the largest textile and garment corporations in Asia. The Group includes nearly 120 subsidiary companies that produce textile and garments and run commercial services. These companies also have their own distribution systems including wholesale and retail dealers.
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 21st Oct 2021

China's FDI inflow up by 19.6% in first 9 months of 2021

Foreign direct investment (FDI) into the Chinese mainland, in actual...

Pic: Ministry of Industry and Trade Web Portal

Textiles | On 21st Oct 2021

Vietnam, Singapore should optimise FTAs to boost cooperation: Minister

Vietnam and Singapore should further optimise free trade agreements...

Pic: Shutterstock

Textiles | On 21st Oct 2021

Demand from China pushes up wool prices in Australia

With Chinese top makers and traders pushing up the demand, large...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

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


October 2021

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


Advanced Search