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Garment firms focus on local trade
Viet Nam’s garment and textile industry should focus on developing the domestic market now that exports are declining, said Le Quoc An, Chairman of the Viet Nam Garment and Textile Association.
This year, global demand for garments may decrease by 15 per cent so an export target of US$9.2-9.5 billion will be an enormous challenge for the domestic garment industry, said An.
Marked effect
The world recession has had a marked effect on Viet Nam’s luxury garments and products since customers all over the world are tightening their belts, said Diep Thanh Kiet, deputy chairman of HCM City’s Textile-Garment-Embroidery-Knitting Association.
Garment companies who export products to the US and EU are facing the biggest challenges so far.
Tran Thi Sinh Duyen, Director of the May Hai Garment Joint Stock Company in the northern city of Hai Phong, said the company’s export values to major markets like the US and EU has fallen 30-40 per cent since the beginning of the year.
Seeing the falling demand for exports, many garment companies have developed strategies to develop the domestic market.
Recently, the Viet Nam National Garment and Textile Group (Vinatex) established a domestic distribution system at 55 supermarkets and 20 fashion shops in 22 cities and provinces.
Other companies such as Viet Tien, Nha Be and Garment 10 are also successfully targeting Vietnamese customers.
Viet Tien Garment Joint Stock Company introduced new products to attract domestic customers. The company now has 17 shops and nearly 600 agents nation-wide and products have appeared in 48 trade centres.
Garment 10 Joint Stock Company plans to boost their domestic consumption to 30 per cent by opening six clothing chains in Ha Noi, Hai Phong, Ha Long and Thai Binh this year.
vietnamplus
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