Textile and garment industry focuses on domestic market
However, in the face of increasingly fierce competition from major fashion groups globally, domestic enterprises need to have a roadmap and direction to avoid losses at home.
Textile and garment enterprises have mainly focused on exports and have not paid much attention to the domestic market.
Facing difficulties caused by the pandemic, especially when the export market declined, businesses have boosted investment in researching, changing product structure and promoting market development.
The Nhân Dân (People) newspaper quoted the general director of Garment 10 JSC Thân Đức Việt as saying that before the negative impact of the pandemic caused many export markets to be "frozen," the company had plans to focus on developing the market in the near future.
It will continue to promote the development of the domestic market with suitable products that both ensure quality and have prices suitable for consumers.
Similarly, with more than 1,300 stores introducing and selling products nationwide, Việt Tiến Garment Corporation has gradually affirmed its name and position with famous brands such as Viettien and Viettien Smartcasual, and San Sciaro.
Bùi Văn Tiến, general director of Việt Tiến Garment Corporation, affirmed that the corporation would continue to promote the development of the domestic market, aiming to grow from 10 to 15 per cent of the total export value of Vietnamese textile and garment by 2030, and boost online sales from 25 to 35 per cent.
Chairman of the Việt Nam Textile and Apparel Association Vũ Đức Giang affirmed that the domestic market still had a lot of room for development.
According to Giang, Vietnamese textile and garment enterprises had been affirming their position in the domestic market with products in the medium and high segments.
The target for the domestic market is to account for US$3.5 billion to $4 billion by
year end.
The Việt Nam Textile and Apparel Association will continue to accompany the business community on counterfeit goods by linking with market management agencies and mobilising consumers through communication channels.
At the same time, it will call for investment from domestic textile enterprises and foreign direct investment enterprises in the country's supply. — VNS
Related News
Vietnam textile and garment strives to increase the localization rate
06:46 | 30/04/2024 Import-Export
Navigating through small and fragmented orders
17:21 | 29/01/2024 Import-Export
Textile and garment exports are expected to reach 40.3 billion USD
14:55 | 28/11/2023 Import-Export
Latest News
Open credit flow to support import and export
09:30 | 08/05/2024 Import-Export
Import turnover increases by US$13.5 billion
09:30 | 08/05/2024 Import-Export
Green production, trade will help wood industry increase export: Viforest
14:30 | 07/05/2024 Import-Export
Hanoi attracts over 1.1 billion USD in FDI in four months
14:28 | 07/05/2024 Import-Export
More News
FDI flows strongly into manufacturing, real estate
14:26 | 07/05/2024 Import-Export
Maintaining recovery momentum amid uncertainties
09:09 | 07/05/2024 Import-Export
Make use of the most of favorable factors for economic growth
15:38 | 06/05/2024 Import-Export
Textile and garment businesses face difficulties due to lack of domestic supply
15:36 | 06/05/2024 Import-Export
Vietnam leads in export rice prices globally
15:34 | 06/05/2024 Import-Export
Production ensures export of 7.4 million tons of rice this year
14:30 | 06/05/2024 Import-Export
More businesses to join Vietnam E-Pavilion
16:34 | 05/05/2024 Import-Export
Cooperatives urged to focus on branding to expand exports of organic tea
16:32 | 05/05/2024 Import-Export
Seafood enterprises encounter problems with specialized inspection
10:37 | 05/05/2024 Import-Export
Your care
Open credit flow to support import and export
09:30 | 08/05/2024 Import-Export
Import turnover increases by US$13.5 billion
09:30 | 08/05/2024 Import-Export
Green production, trade will help wood industry increase export: Viforest
14:30 | 07/05/2024 Import-Export
Hanoi attracts over 1.1 billion USD in FDI in four months
14:28 | 07/05/2024 Import-Export
FDI flows strongly into manufacturing, real estate
14:26 | 07/05/2024 Import-Export