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Vietnam: growth accelerates to 8 percent in 2025 despite US tariffs

Vietnam reported an 8 percent growth in its gross domestic product (GDP) for 2025 on Monday, driven by services, construction and exports, despite the impact of US tariffs. “The 2025 GDP is expected to post significant growth, estimated at 8.02 percent compared to the previous year,” the Statistics Bureau said in a statement. For several years,...

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Vietnam launches crackdown on counterfeits amid US pressure

Chanel, Louis Vuitton, Gucci… Tran Le Chi loved fashion, but the US customs crackdown wreaked havoc on her wardrobe of counterfeits ‘made in Vietnam,’ caught in Washington’s crosshairs. “Clothes help me look trendy,” explained the 53-year-old woman, who sells illegal lottery tickets in Hanoi, the Vietnamese capital. “What does it matter to me...

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Facing tariffs, Vietnam requests support from American clothing brands

Hanoi - Hanoi invited American textile companies to support Vietnam with the Trump administration in its efforts to avoid a 46 percent tariff that would damage trade between the two countries. Vietnam, which mass-produces clothing and footwear for international brands, worked tirelessly to meet the demands of its main client, the US. Industry...

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Frasers Group to bring Sports Direct stores to India, four new Southeast Asian markets

British retail giant Frasers Group and Indonesian departmental store operator MAP Active have announced the expansion of their partnership to launch the Sports Direct brand and retail stores across five new markets in southeast Asia and India. In the long term, the ambitious growth plan is set to include opening over 350 stores in the region. To...

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Shein seeks Vietnam expansion to offset U.S. tariffs

Fast-fashion leader Shein is encouraging key Chinese suppliers to establish production facilities in Vietnam, offering temporary incentives such as higher procurement prices of up to 30 percent and larger order guarantees, according to a Bloomberg report. The move comes in response to recent U.S. trade policy changes, including the removal of...

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Recover to open new factory in Vietnam to further global recycling capabilities

Global producer of recycled cotton fiber Recover is set to open a new manufacturing facility in Vietnam as part of its expansion strategy. Set to be fully operational by early 2025, the new facility sees Recover bring its large-scale recycling technology to Vietnam and leverage the production of more sustainable materials within the local...

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Vietnam threatens technical block on Chinese e-commerce giants Shein and Temu

The Vietnamese government is threatening to block the internet domains and apps of Chinese online retailers Shein and Temu if they fail to register their operations with the Ministry of Commerce by the end of November 2024. The move comes amid concerns over the growing influence of the wildly popular e-commerce giants on the economies of local...

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FitFlop expands in Austria, Vietnam and Morocco

British footwear label FitFlop has continued to embark on an international retail expansion strategy with the launch of new concepts in the regions of Austria, Vietnam and Morocco. For the latter, it is the first time the brand has opened a physical retail space, doing so in the form of a kiosk at the SELA Gallery Rabat. Speaking on the brand’s...

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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...

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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...

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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...

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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...