Branded Clothes Demand Rising in Vietnam

Delhi, India (PressExposure) March 13, 2009 -- With growing brand awareness, fashion consciousness and rising demand for quality clothes, sales of clothes in Vietnam are projected to grow at a CAGR of around 15% by the end of 2012, says “Vietnam Retail Analysis (2008-2012)”, a new research report from RNCOS.

The report further says that while Vietnam’s domestic garment market is largely export-oriented, local demand for better quality clothing is also keeping pace with rising brand awareness and consumer-oriented society.

Domestic textile/garment industry recorded sales growth at the rate of more than 15% per year, accounting for one fourth of the total production in the country. Popular fashion brands such as Giordano, Mango, D&G, Gucci, Bossini and Valentino have been well accepted by Vietnamese, but genuine label products are still unaffordable for most of the people. Interestingly, Chinese brands like Bossini, Giordano and Mango received good response from people living in big cities owing to their affordable price range.

As Vietnam has recently acquired the WTO membership, growth prospects for its textile/garment industry have boosted as it can increase exports to the US and Europe (the biggest export markets for Vietnam) without any quota limitations. Besides, rise in textile exports will also enable Vietnam to generate more jobs and increase foreign exchange. In the backdrop of these factors, the Vietnamese apparel industry is expected to grow at a CAGR of 9.95% from 2007 to 2011.

“Vietnam Retail Analysis (2008-2012)” gives exhaustive research and rational analysis on fast changing retail industry in Vietnam. The report studies key facts and issues related to Vietnam retail industry such as market size and scope of retail industry, major retailers, their presence and strategies employed by them. It also discusses present and past market trends, opportunities and challenges to enable clients align their investment strategies accordingly.

The report also provides forecast on various segments of Vietnam retail industry, including disposable income, total retail sales, retail sales of footwear, retail sales of cosmetics and toiletries and retail sales of household cleansing products.

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Press Release Submitted On: March 13, 2009 at 5:56 am
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