Foreign brands competing with local clothing companies in Vietnam
Currently, Adidas, Inditex and H&M are the top three brands in Vietnam, according to a report by Vietnam Industry Research and Consultancy (VIRAC). Next are Vietnamese companies that own brands such as Biti’s, Canifa, Viet Tien and May 10.
Over 200 mid-to-high-end foreign brands have their official stores in Vietnam.
Despite the export of textiles and clothing to the world, the Vietnam clothing market is unknown to the world as the products are exported under the foreign brand names. The VIRAC report said that it is necessary to improve the domestic industry with the help of the media to bring Vietnamese brands in the world.
Vietnam currently has neither an environment nor a methodical school to operate fashion brands in order to develop the domestic industry in an efficient and systematic way, he added.
Speaking of the country’s garment industry trends, the report says that sustainability will be the main trend in the near future, followed by influencer marketing, video content, e-commerce channel distribution and commerce. second hand.
Vietnam’s clothing market revenue in 2020 decreased by more than 10% compared to 2019 due to the pandemic.
Fibre2Fashion Information Office (KD)
International brands compete fiercely with the local Vietnamese clothing industry, leading to a decrease in market share of national brands. Poor design, small scale, less professionalism, counterfeiting and a lack of long-term brand management and promotion strategy are the reasons cited in a recent report.