The Woolmark Company takes centre stage in Vietnam

15:43 | 22/06/2018 Companies

(VEN) - The Merino Wool Awareness Day of The Woolmark Company concludes today in Hanoi, with more than a hundred industry experts attending.

Considering Vietnam as a key emerging market, The Woolmark Company has worked in the Vietnamese market for five years, witnessing the country’s growing interest in the use of natural fibres and its potential for production of quality wool product, as the country’s economic and social environment evolves.

The Merino Wool Awareness Day proudly hosts more than a hundred participants, including international and local experts, experienced designers, suppliers and manufacturers in the textile and garment industry. The event highlights the benefits of Merino wool and provides guidance on how to access and process the fibre in innovative ways in the future, as well as giving domestic companies an opportunity to showcase their wool products and connect with more than 80 supply chain brands in Vietnam. Executives from The Woolmark Company provided a comprehensive overview of the company, its world renowned International Woolmark Prize, the benefits of Australian Merino wool, and textile innovations using the fibre. The participants also have a unique opportunity to learn valuable lessons from experienced experts from leading brands in Vietnam and across the world such as Canifa, Ivy Moda, Ffixxed Studios, Designer Textile International (DTI) and Appeal Korea.

Mr John Roberts, General Manager Eastern Hemisphere of The Woolmark Company

“As the global authority on Australian Merino wool, The Woolmark Company has been working towards developing a sustainable supply chain in Vietnam. We launched the ‘Out of Vietnam’ project in June 2012, aimed at developing new manufacturing supply chains for wool products, and we have now established collaborations with more than 80 partners in the country. Our heritage in wool research and development together with Vietnam’s solid background in the textile industry make a perfect combination that promises high quality and sustainable ‘Grown in Australia - Made in Vietnam’ wool products, as well as a strengthening partnership between the two economies,” said Mr John Roberts, General Manager Eastern Hemisphere of The Woolmark Company.

Having established its foothold in the market for more than five years, The Woolmark Company considers Vietnam a highly valuable potential market, thanks to the country’s political and social stability, established textile manufacturing infrastructure, abundance of a skilled and low-cost labour force as well as a reliable water and electric supply, and the country’s accessibility to numerous FTAs and cross-borders partnerships.

Australian Merino wool is the remarkable result of years of evolution. Its benefits include breathability, temperature regulation, softness and fineness, odour resistance, elasticity, UV protection, fire resistance and versatility of use. Recent published research even shows the therapeutic power of superfine Merino wool for those suffering from the eczema.

The textile and garment industry has long been Vietnam’s key economic sector. The industry employs more than 2.7 million people in the country, equivalent to 25% of the industrial workforce and is the second largest export earner in the manufacturing sector. Accounting for 17% of world apparel exports in 2017, Vietnam’s textile exports have steadily grown to USD31.1 billion in 2017 from the modest USD1.35 billion in 1998, listing the country among the world’s top 5 textile exporters. Given the harsh competition in the global market, however, it is essential for Vietnamese businesses to develop specific strategies to enhance competitiveness and generate breakthroughs. Simultaneously, businesses also need to leverage effective flows of foreign investment, while actively participate in the supply chain to reduce costs and optimise domestic performance.

The Woolmark Company is the global authority on wool. The Woolmark Company is a subsidiary of Australian Wool Innovation, a not-for-profit enterprise that conducts research, development and marketing along the worldwide supply chain for Australian wool on behalf of nearly 60,000 woolgrowers that help fund the company.

Minh Ky