16:22 | 01/12/2016 Trade
(VEN) - Vietnamese office fashion products are becoming firmly positioned in the domestic market thanks to good quality, diversity, and competitive prices.
Made-in-Vietnam products for Vietnamese
Failure in competition with imported products has been a risk for domestic office fashion firms in the period of international integration. In fact, however, made-in-Vietnam products have successfully maintained their position in the domestic market despite the overwhelming presence of world-famous brands such as Gucci, LV, HM, and Zara.
Most of Vietnamese fashion brands have been present in the market for just five to ten years now. Although they are much younger than world-famous fashion brands, domestic textile and garment manufacturers have been able to withstand fierce competition with foreign firms thanks to their good knowledge of market demand and the tastes of Vietnamese consumers. The Buy Vietnamese Goods campaign has also contributed to strengthening the market position of made-in-Vietnam fashion products.
In the segment of office fashion for women, Elise has emerged as one of the most prevailing brands. A representative of the Elise Fashion Joint Stock Company said that Elise has been present in the fashion market for five years and received a warm welcome from consumers. The company has opened nearly 40 branches nationwide. Quality fabrics, good designs, and Vietnamese tailoring techniques have created advantages for Elise-brand products.
Merriman is a popular brand of fashion for men, owned by the Hoa Tho Textile and Garment Joint Stock Corporation. While most of its revenue comes from exports, this company is paying greater attention to boosting domestic sales, especially in the segment of office fashion for men. Its Merriman-brand casual fashion products have attracted a lot of customers nationwide. The company’s brand development policy focuses on ensuring product quality to promote sustainable sales growth.
Recently, the Hoa Tho Textile and Garment Joint Stock Corporation launched an exclusive product line, elastic waist trousers, designed to make users feel more comfortable than other types of trousers.
According to the Vietnam Textile and Apparel Association, the domestic textile and garment market is of great potential with more than 90 million consumers and an annual growth rate of 15-20 percent. Many Vietnamese textile and garment companies have concentrated on boosting domestic sales along with promoting exports, and successfully positioned their brands in the domestic market. Examples include Canifa, a successful brand of the Hoang Duong Trading and Service Joint Stock Company, NEM (NEM Fashion Joint Stock Company), Eva de Eva (My Phuc Company Limited), Elise (Elise Fashion Joint Stock Company), Seven.am (MHA Joint Stock Company), Winny, Owen, Wonnerful, Fila, and Dunlop (Kowil Vietnam Fashion Joint Stock Company, a member of the Phu Thai Group).
Vietnamese fashion firms have diversified their designs to serve different types of customers. Canifa, for example, has been present in the wool and yarn fashion market for more than 10 years and become the first choice of most domestic consumers, especially young people. Reasonable prices, good quality, and diversity of designs are advantages of Canifa products. PT2000 is another successful fashion brand with key products including T-shirts, shirts, and belts - all are designed to bring users a dynamic, modern, and strong appearance. For these advantages, PT2000 has become attractive to most young consumers.
|Vietnamese fashion firms are confident of their ability to compete with foreign brands|
Affordable prices to different consumer types
Affordable prices to different types of consumers are the biggest advantage of made-in-Vietnam fashion products. Most consumers prefer to buy Vietnamese textile and garment products, despite their 10-15 percent higher prices compared with Chinese products, believing that Vietnamese products are better in quality. Furthermore, domestic textile and garment companies have continuously promoted sales through only-one-price campaigns or discount programs.
For example, Elise clothes for children are sold at prices ranging from VND168,000-398,000 per product; clothes for adults from VND798,000-848,000; and dresses for women from VND1.6-1.8 million. These prices are affordable to most office workers. Another advantage of Elise products is their durability and trendiness.
Domestic textile and garment companies have also launched luxury product lines under brands such as Viet Tien, Viet Thang, Mattana, Owen, and NEM, to serve high-income consumers.
Vietnamese fashion firms are strengthening their position in the domestic market. They are confident of their ability to compete with foreign brands in the home market, as they have succeeded in competing with foreign rivals in the global market.