Contrary to pessimistic forecasts about the fate of Vietnamese fashion brands after a massive influx of foreign brands like Uniqlo, Zara and H&M into the country, domestic labels, such as Blue Exchange, Ninomaxx, PT 2000, Couple TX and Canifa are, likely to prosper through expansion of their distribution networks and marketing campaigns, say experts.
Foreign brands like Bossini, Giordano and Miniso were present in the Vietnamese market earlier, but did not affect market share held by Vietnamese brands, according to a report in a popular news portal in the country.Contrary to pessimistic forecasts about the fate of Vietnamese fashion brands after a massive influx of foreign brands like Uniqlo, Zara and H&M into the country, domestic labels, such as Blue Exchange, Ninomaxx, PT 2000, Couple TX and Canifa are, likely to prosper through expansion of their distribution networks and marketing campaigns, say experts.#
Vietnamese customers spend more money on foreign branded goods, according to 2017 second quarter report of market analysis firm BMI. The value of the Vietnamese fashion market is estimated at $3.8 billion in 2018, of which expenditure on clothing is $3.5 billion.
Canifa recently spent a big amount on media campaigns and sponsors many famous TV shows. As shops of most Vietnamese fashion brands are located in large cities, that has resulted in a limited distribution network, said company CEO Doan Thi Bich Ngoc.
Truong Thang company plans to raise the number of shops to 60 this year through franchise contracts, according to its chairman Nguyen Thi Kim Xuyen. Many brands that started business with sales via Facebook have now decided to open shops. (DS)
Fibre2Fashion News Desk – India
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