Monday, 10:38, 08/03/2021
While fashion fanatics will welcome the ever-increasing presence of international brands, the domestic consumer base has already lost a significant portion of its purchasing power amid the influence of the global health crisis on the economy, forcing domestic brands to face increased competition with new strategies to retain their business.
Well-known brand names such as UNIQLO have increased their presence in Vietnam in recent years. Photo: Le Toan
While most fashion brands in the world are shrinking as fashion followers have to stay away from shopping malls and stores during social restrictions caused by COVID-19, Fast Retailing Group, which owns UNIQLO, has already opened seven stores in Hanoi and Ho Chi Minh City since its first appearance at the end of 2019.
Vietnam s garment export stable in first 2 months
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Vietnam s garment export stable in first 2 months - World News
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Bright signs from textile and apparel export 22:13 | 03/03/2021
Many textile apparel firms have posted upbeat export performance in early 2021 with signed export orders until this upcoming July and August.
Apparel exports have been showing signs of a rebound since the end of the third quarter last year
Recent figures by the Vietnam General Department of Customs show that as of February 15, Vietnam raked in $3.77 billion from textile and apparel exports, up $270 million compared to the same period in 2020.
Le Tien Truong, deputy chairman of the Vietnam Textile and Apparel Association (Vitas) and chairman of state-run group Vinatex noted that with the COVID-19 situation still intense and consumption declining in Vietnamâs major export markets like the US, EU, and Japan, many local firms have adopted smartly by shifting to producing items for common use with reasonable price tags.