Vietnam'S Clothing Industry Is Too Focused On Exports And Missed The Domestic Market.
Vietnam's clothing companies have missed the opportunity to expand the domestic market by expanding the export market.
A recent survey by Vietnam textile and clothing group (Vinatex) found that demand for domestic fashion rose at an annual rate of 20%-40%. Vietnam is considered a highly promising fashion market in Asia and the world. The per capita monthly expenditure is 150 thousand Vietnamese Dong (9 US dollars), and Vietnam's fashion market is estimated to reach US $500 million per year.
Vietnam is the ninth largest exporter of clothing. But Li Guoan, chairman of Vietnam textile and Garment Group, said domestic companies did not dominate the local market.
About 140 popular international brands may be found in Vietnam's exclusive stores, mainly from France, Italy, the United States, Spain and other international brands. China's clothing is especially popular, and its price is reasonable and competitive.
Li Guoan said that many garment companies only make appearance companies for foreign partners with less income. If they invest more in design and marketing capabilities, their income will go up.
(Jia Xiao)
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