VIETNAM news and archive

Is Vietnam luxury's next frontier?

Vietnam's luxury industry is set for substantial growth, with projected revenues of 957.2 million by 2023 and an annual growth rate of 3.23 percent until 2028, according to data from Statista. Despite the United States currently leading in luxury revenue, with annual sales topping 75 billion dollars, Vietnam's expansion is drawing in affluent...

BusinessFeatured

Global footwear manufacturing is shifting from China to Vietnam

China, the world’s leading producer of footwear, has Vietnam hot on its heels. Ranking second place, Vietnam exports over 1 billion pairs of footwear every year, and its output is steadily increasing. New data from Research and Markets show Vietnam's footwear exports to the EU account for the largest proportion of total exports. By the end of...

BusinessFeatured

The textile and clothing sector is recovering in Vietnam

After an unprecedented wave of layoffs, the sector recovered rapidly in the last quarter by abandoning its "zero-covid" policy. Vietnam, along with Cambodia, Bangladesh and more recently Burma, is a major supplier of clothing and textiles to the European Union (and the Western world in general). Its economy has been one of the best performing in...

Business

Lockdown in Vietnam and power problems in China cause delivery delays

The ongoing lockdown in Vietnam is currently delaying goods from ports of the Southeast Asian nation by an average of 25 days, while an interrupted power supply in Chinese factories is also affecting imports of products from the Far East. This will negatively impact the upcoming holiday season, as many importers have already been suffering from...

Business

One-third of Vietnam’s clothing factories reportedly closed due to Covid

Around a third of Vietnam’s textile and garment factories have reportedly halted operations following a surge in cases of Covid-19 in the Southeast Asian country. About 30 to 35 percent of textile and garment factories in Vietnam are currently closed, the Business of Fashion reports, citing figures from the Vietnam Textile and Apparel...

Fashion Featured

Garment factory workers in Vietnam forced to rely on excessive overtime

Garment factory workers in Vietnam are not able to earn a living wage without working excessive overtime, according to a report published this week by the Fair Labor Association (FLA), based on data collected over three years from 13,000 workers working across 38 factories. Although the average garment factory worker in Vietnam earns more than...

Fashion

WWF teams up with Vietnam’s textile and apparel sector for sustainability project

The World Wide Fund for Nature (WWF) has announced a partnership with the Vietnam Textile and Apparel Association (Vitas) to make the sector more environmentally friendly through improving water management and energy sustainability. “Vietnam ranks as the fifth largest exporter of apparel goods in the world, but our industry is more famous for...

Retail

Uniqlo to enter Vietnamese market

Japanese casual retailer Uniqlo announced plans to launch its first store in Ho Chi Mihn City in the fall of 2019. The company is soon to begin recruiting employees for the new shop. “Our entry into Vietnam is an exciting milestone for everyone at Uniqlo. The Southeast Asia region has been an important driver of growth for us, and we are pleased...

Business

Vietnam: Thua Thien-Hue province to start garment hub

In just four years, the Thua Thien-Hue province in central Vietnam plans to transform itself into a textile and garment hub, spending the equivalent of 295 million US dollars to do so. According to Viet Nam News, the new centre would cover 400 hectares in the Phong Dien Industrial Zone. "In order to develop the sector sustainably and ensure...

Fashion

Vietnam set to surpass China as top textiles manufacturing location

London - Vietnam has managed to squeeze past China to top the list of the most-preferred manufacturing locations for textile and apparel by companies across the globe, according to a recent report published by the Korea Trade-Investment Promotion Agency (KOTRA). The country has potential to become the world's biggest textile producing centre...

Fashion Featured

Vietnam's design evolution: Fast fashion to ethical couture

Long a bastion for cheap, fast-fashion manufacturing, a new crop of designers are trying to transform the Made in Vietnam label and save the country's rich ethnic heritage in the process. In the remote hills of Cao Bang, some 300 kilometres north of the capital Hanoi, Vietnamese designer Thao Vu is gleefully dropping swaths of hand-spun cotton...

Fashion

Vietnam garment workers go on mass strike

London - More than 17,000 workers in Vietnam have gone on strike at a garment and footwear factory that counts adidas and Nike as clients, over new company policies that cut down their salaries for missing work. The factory, owned by Taiwan-based garment maker Pou Chen Corp, recently impose new penalties that deduct worker salaries and bonuses...