Domestic clothing industry targets local consumers
10:53' 28/02/2009 (GMT+7)
VietNamNet Bridge - Vietnam’s garment and textile manufacturers have made a decision to target the domestic market, in order to alleviate the despondency that has settled over the sector due to a continued drop in exports.
According to the Vietnam National Textile and Garment Group, the domestic market is worth an average of 4.5 billion USD per year to the sector, and this figure is predicted to rocket to 6 billion USD by next year.
One of the garment sector’s big names, the Viet Tien Garment Joint Stock Corporation, has recently targeted white-collar staff as the key market for its products.
The company has recently launched a “Fan-Fciar” office fashion range for its middle-aged customers and a “Manhattan” range of garments for young while-collar workers. Viet Tien’s brand names, such as Smart Casual, Vee Sendy and TT-up, have become increasingly familiar to office workers recently.
Another well-known brand, NinoMaxx, produced by the Viet Fashion Company, is continuing to pursue its strategy of winning the hearts and minds of the nation’s younger shoppers by offering stylish products at its network of stores.
According to Viet Fashion Co.’s executive manager, Tran Thanh Sang, the company earned 43 billion VND in revenues in January, a year-on-year increase of 30 percent.
The Vietnam Fashion Trading Company is focusing on the development of its network of 50 stores, supermarkets and trade centres, known as Vinatex Mart, specialising in the sale of 100 percent home-made products. The company sells more than 11 million items per year.
Statistics reveal that made-in-Vietnam clothing currently meets just 20 percent of domestic demand, with the remaining 80 percent of the market being monopolised by imported garments from China and Thailand. Furthermore, domestic clothing designers have the capability of designing 30 percent of Vietnamese-made garments.
Although it has been described as one of the world’s leading garment exporters, with exports valued at tens of billions of USD, most Vietnamese-made clothing is in the form of sub-contracting, while garment technology requires five basic factors, namely branding, materials, design, production and distribution.
To gain deeper market penetration, domestic clothing producers should revise their branding strategies and improve their distribution networks, experts said.
10:53' 28/02/2009 (GMT+7)
VietNamNet Bridge - Vietnam’s garment and textile manufacturers have made a decision to target the domestic market, in order to alleviate the despondency that has settled over the sector due to a continued drop in exports.
According to the Vietnam National Textile and Garment Group, the domestic market is worth an average of 4.5 billion USD per year to the sector, and this figure is predicted to rocket to 6 billion USD by next year.
One of the garment sector’s big names, the Viet Tien Garment Joint Stock Corporation, has recently targeted white-collar staff as the key market for its products.
The company has recently launched a “Fan-Fciar” office fashion range for its middle-aged customers and a “Manhattan” range of garments for young while-collar workers. Viet Tien’s brand names, such as Smart Casual, Vee Sendy and TT-up, have become increasingly familiar to office workers recently.
Another well-known brand, NinoMaxx, produced by the Viet Fashion Company, is continuing to pursue its strategy of winning the hearts and minds of the nation’s younger shoppers by offering stylish products at its network of stores.
According to Viet Fashion Co.’s executive manager, Tran Thanh Sang, the company earned 43 billion VND in revenues in January, a year-on-year increase of 30 percent.
The Vietnam Fashion Trading Company is focusing on the development of its network of 50 stores, supermarkets and trade centres, known as Vinatex Mart, specialising in the sale of 100 percent home-made products. The company sells more than 11 million items per year.
Statistics reveal that made-in-Vietnam clothing currently meets just 20 percent of domestic demand, with the remaining 80 percent of the market being monopolised by imported garments from China and Thailand. Furthermore, domestic clothing designers have the capability of designing 30 percent of Vietnamese-made garments.
Although it has been described as one of the world’s leading garment exporters, with exports valued at tens of billions of USD, most Vietnamese-made clothing is in the form of sub-contracting, while garment technology requires five basic factors, namely branding, materials, design, production and distribution.
To gain deeper market penetration, domestic clothing producers should revise their branding strategies and improve their distribution networks, experts said.
No comments:
Post a Comment