Vietnamese garment companies have missed huge opportunities to expand the domestic market in order to expand the export market.
According to a recent survey by the Vietnam Textile and Garment Group, domestic demand for fashion is growing at an annual rate of 20-40%. Vietnam is considered a highly promising fashion market in Asia and globally. The per capita monthly expenditure reaches 150,000 VND (9 USD), and the Vietnamese fashion market is estimated to reach 500 million USD annually.
Vietnam is the 9th largest apparel exporter. But Li Quoc An, chairman of Vietnam Textile and Garment Group, said domestic companies did not dominate the local market.
You may find about 140 popular international brands in Vietnamese stores, mainly from France, Italy, the United States, Spain, and other international brands. Chinese clothing is particularly popular and the prices are reasonable and competitive.
Li Guoan said that many clothing companies only serve as appearance companies for foreign partners, and their income is small. If they invest more in design and marketing capabilities, their revenue will rise.
