Underwear industry boosts the bottom line in Vietnam

Vietnamese fashion is making a play for the bedroom with new collections of under things sporting eye catching designs at value prices rapidly filling the shelves of the nation’s popular discount stores.

Underwear industry boosts the bottom line in Vietnam

They haven’t made a lot of money yet, but the momentum is shifting from a market once dominated by foreign brand names to one in which Vietnamese domestic companies are taking the lead.

The market has venture investors seeing 50 shades of green with its multi-billion plus market potential per year in terms of revenue, a spokesperson for a leading clothing producer in HCM City recently said.

“Just do the math the—with a population of 90 million, if one person bought six products per year, and each sold for VND100,000, the revenue could potentially hit VND36,000 billion annually.”

At BigC discount stores, Vietnamese men’s underwear has been selling at prices ranging VND50,000-300,000 each while women’s bras have been varying from VND125,000-300,000.

Vietnamese made products have been value priced, selling at roughly half that of foreign brands and sales have been steadily on the uptick, a store manager at BigC in district 10 of HCM City has reported.

“I feel more positive about this market,” the manager said, adding that previously we found it hard to sell foreign brands of women’s bras with much higher prices, but with the competitive pricing of Vietnamese trendy underwear, sales have been red hot.

The Co.op mart in HCM City in turn has reported sales are busting out all over as the store has increased its floor inventory from one to three shelves with Vietnamese items now taking up 30% of floor space.

“Four years ago, most underwear and lingerie items we sold were from China as there were only a handful of Vietnamese products on the market,” said Hoa, a trader at the Ba Chieu market in Binh Thanh district.

However, over the past two years, the number of domestic products has multiplied substantially, Hoa added and they now account for over 20% of my business with the balance primarily from China.

Two years ago the An Phuoc Garment, Embroidery & Shoes Co. Ltd expanded and opened a factory in Nha Trang and it now has 83 An Phuoc-Pierre Cardin stores and nine Bonjour stores nationwide, with plans to open a dozen more

It’s very difficult to scale up a business and meet the capital requirements for facilities and inventory as the company is strapped for cash, a company representative said – but the demand is there if we can muster the funds needed.

General Director of Son Viet Garment Joint Stock Company Ha Xuan Anh said in the recent four-five years, sales of Made-in-Vietnam underwear and lingerie have been thriving, particularly with middle-class shoppers.

On the real low end, Chinese products still dominate the market Anh said.

For underwear, there are now three-four Vietnamese brands that are most favoured by men. “Our products account for 30% of the Vietnam market, and they are also exported to Thailand, Myanmar and Singapore.

“Each month the company produces in excess of 400,000 items,” Anh noted.

Anh said this year, the company targets to raise its revenue by 150% that of last year and introduce a new collection of designs and products for children and pregnant women.

There is an old saying in the industry that the best way to assess the state of the economy is to look at underwear sales—and by that measure the temperature of the Vietnam’s economic well-being looks pretty good.

Source VOV News


    ven.vn

    See also

    Food and beverage industry to do well this year despite modest economy

    Food and beverage industry to do well this year despite modest economy

    The food and beverage market is forecast to grow by over 18% this year to 720 trillion VND (30.7 billion USD).
    Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization

    Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization

    In 2023, the United Arab Emirates is taking center stage in the global efforts to address climate change and sustainability. Recently, leaders have gathered for Abu Dhabi Sustainability Week, kicking off a year of events leading up to the UAE-hosted COP28 at the end of the year.
    Hanoi eyes 950 firms in support industries this year

    Hanoi eyes 950 firms in support industries this year

    Hanoi has set a target to have about 950 enterprises operating in the field of supporting industries this year, an increase of approximately 20 compared to 2022.
    Vietnam to reduce environmental impact of textile-garment industry by 2030

    Vietnam to reduce environmental impact of textile-garment industry by 2030

    The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030.
    Binh Lieu mountain region powers up

    Binh Lieu mountain region powers up

    (VEN) - The mountainous border district of Binh Lieu in the northeastern province of Quang Ninh is changing rapidly due to investment in infrastructure of roads, electricity and schools, greatly improving the lives of the predominantly ethnic minority population.
    Steel industry to gradually recover in 2023

    Steel industry to gradually recover in 2023

    HCM CITY — Domestic steel demand is expected to keep falling due to the property market slump and tightened monetary policy, economic downturn in many export markets and a rise in supply making the outlook for the industry in 2023 poor, analysts said.

    See more news

    Quang Ninh ships first tonne of coal on first day of Lunar New Year

    Quang Ninh ships first tonne of coal on first day of Lunar New Year

    The northern coastal province of Quang Ninh shipped the first tonnes of coal on January 21, the first day of the Lunar New Year, from the Cam Pha port.
    Support industries vital for global integration

    Support industries vital for global integration

    (VEN) - “Entering 2023, Vietnam needs to promote the development of support industries to help the country’s industrial sector effectively participate in the global supply chain,” said Deputy Director of the Industry Agency under the Ministry of Industry and Trade (MoIT) Ngo Khai Hoan in an interview with Vietnam Economic News’ Lan Anh.
    Hanoi facilitates specialty product development

    Hanoi facilitates specialty product development

    (VEN) - Nguyen The Hiep, Deputy Director of the Hanoi Department of Industry and Trade, said 426 Hanoi-based enterprises, cooperatives and production households have so far created 1,649 certified OCOP (One Commune One Product) products of high quality and reasonable price, 65 percent of which are food products.
    So Village’s vermicelli goes global

    So Village’s vermicelli goes global

    (VEN) - Son Lo Village (also known as So Village) in Cong Hoa Commune of the capital’s suburban district of Quoc Oai, about 20 kilometers from downtown Hanoi, has become a major vermicelli center. The village’s safe, clean vermicelli products have been exported to Malaysia, Japan, and Germany.
    Nghe An Province increases local content of industrial products

    Nghe An Province increases local content of industrial products

    (VEN) - Nghe An is one of the chosen destinations of large international investors shifting their supply chains to Vietnam, providing businesses in the north-central province with access to new opportunities for support industry development.
    Ba Vi, the place to buy Hanoi specialties

    Ba Vi, the place to buy Hanoi specialties

    (VEN) - Nguyen The Hiep, Deputy Director of the Hanoi Department of Industry and Trade said the capital’s suburban district of Ba Vi has formed organic and safe agricultural production areas, and registered brands for its products. These include Ba Vi milk and tea, Minh Hong vermicelli, Dong Thai sweet potato, and Ba Vi hill chicken, among others. The district has developed 138 OCOP (one commune one product) products.
    Rural products fall short of potential

    Rural products fall short of potential

    (VEN) - Outstanding rural industrial products have been honored for 10 years throughout Vietnam, boosting rural industrial development. However, several problems need to be addressed to improve the products’ promotion.
    Vice President hails Vietsovpetro for contributions to energy security

    Vice President hails Vietsovpetro for contributions to energy security

    Vice President Vo Thi Anh Xuan on December 22 lauded the Russia-Vietnam oil and gas joint venture Vietsovpetro and the Vietnam Oil and Gas Group (Petrovietnam) for their achievements in 2022, contributing to ensuring energy security, state budget revenue, and economic diplomacy.
    Mitsubishi Power to upgrade two gas turbines at Tuas Power

    Mitsubishi Power to upgrade two gas turbines at Tuas Power

    (VEN) - Introduction of the latest technologies for two M701F gas turbines will help enhance plant’s output and generating efficiency; Upgrade of two 360MW GTCC power plants can cut CO2 emissions by 16.9 kilo-tonnes annually, with work scheduled for completion in 2023.
    EVN demands flexible mechanism for electricity prices

    EVN demands flexible mechanism for electricity prices

    Vietnam Electricity (EVN), the country's largest power company, has proposed a new price mechanism, one that is better tuned to input price fluctuations, for electricity. 
    View more
    Latest Most Read
    Hai Phong pledges optimal conditions for investors

    Hai Phong pledges optimal conditions for investors

    Hai Phong will always accompany with and create optimal conditions for investors, vowed Nguyen Trung Kien, head of the Economic Zone Management Board of the northern port city, during a meeting with foreign-invested businesses in the city on January 31.
    Việt Nam to further contribute to strengthening ASEAN solidarity: ambassador

    Việt Nam to further contribute to strengthening ASEAN solidarity: ambassador

    ASEAN foreign ministers are expected to propose initiatives and solutions to cope with challenges in the region and the world, strengthen the bloc's solidarity during their meeting in Jakarta on Feb 3-4.
    Vietnam’s rice export forecast to enjoy another successful year

    Vietnam’s rice export forecast to enjoy another successful year

    Vietnam’s rice export is forecast to continue reaping successes this year as the world's rice prices remain high at least in the short term as global economic and political uncertainties have resulted in a high demand for rice reserves, according to experts.
    Trade surplus with America exceeds US$100 billion

    Trade surplus with America exceeds US$100 billion

    Viet Nam enjoyed a trade surplus of US$100 billion with the Americas for the first time in 2022, according to the Ministry of Industry and Trade (MoIT).
    Vietnam listed among top places to visit in the New Year

    Vietnam listed among top places to visit in the New Year

    Vietnam has been named one of the top 20 places to visit at the beginning of the new year by UK travel magazine Wanderlust for its beautiful natural sights, festive atmosphere, and favorable weather.
    Calligraphy for the new year

    Calligraphy for the new year

    The sight of old men in traditional costumes writing calligraphy during Lunar New Year was once very popular in the days gone by. The tradition has long disappeared in modern times but it is being revived at the Spring Calligraphy Festival held in the capital Hà Nội. After two-year hiatus due to COVID-19, calligraphers, both local and international, are excited to be able to write again.
    The joy of Tết for Mông people

    The joy of Tết for Mông people

    Unlike the majority of Vietnamese Kinh people, every year the Mong people often welcome the Lunar New Year around one month earlier. This year, the Mong people in mountainous Ha Giang Province have had a happier and better Tet after two years of COVID.
    My Phong Nha

    My Phong Nha

    Phong Nha stands out with more than 300 caves, some of which are internationally famous. The caves and jungle create a unique landscape and terrain that you can rarely find in other places in the world.
    Fireworks show to welcome the New Year 2023 in HCMC

    Fireworks show to welcome the New Year 2023 in HCMC

    (VEN) - Residents in Vietnam’s southern hub – Ho Chi Minh City (HCMC) – gathered for a countdown event with a beautiful fireworks show to welcome the New Year 2023 at the Bach Dang Speed Ferry Terminal.
    Vietnam – Potential destination for Italian businesses

    Vietnam – Potential destination for Italian businesses

    This year, Vietnam and Italy celebrate the 45th founding anniversary of the Vietnam-Italy diplomatic ties with many achievements in all fields, including the growth of economic cooperation. The remarkable achievements were contributed by trade and investment promotion activities organized by the Italian Chamber of Commerce in Vietnam (ICHAM). Vietnam Economic News’ reporter talked with Mr. Michele D'Ercole - Chairman of ICHAM in Vietnam about these matters.
    Prime Minister demands faster disbursement of public investment capital

    Prime Minister demands faster disbursement of public investment capital

    Prime Minister Pham Minh Chinh demanded faster pace of public investment capital disbursement while chairing the Cabinet meeting on Thursday.
    Deputy FM highlights role of economic diplomacy in service of national development

    Deputy FM highlights role of economic diplomacy in service of national development

    The Ministry of Foreign Affairs has accompanied the Ministry of Planning and Investment and agencies to attract high-quality investment, connect and support foreign enterprises to invest and expand operations in Việt Nam, as well as to strengthen exchange and cooperation with investment funds and study international investment trends.
    Việt Nam supports expansion of UN Security Council

    Việt Nam supports expansion of UN Security Council

    Addressing the first meeting of the Intergovernmental Negotiations on Security Council reform at the 77th UN General Assembly on January 26 (local time) in New York, Ambassador Nguyễn Phương Trà also emphasised improving the working method of the UNSC and limiting the use of veto power.
    Prime Minister assigns tasks to Deputy Prime Ministers

    Prime Minister assigns tasks to Deputy Prime Ministers

    Prime Minister Pham Minh Chinh has signed decision 19/QD-TTg assigning tasks to the Deputy Prime Ministers.
    Food and beverage industry to do well this year despite modest economy

    Food and beverage industry to do well this year despite modest economy

    The food and beverage market is forecast to grow by over 18% this year to 720 trillion VND (30.7 billion USD).
    Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization

    Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization

    In 2023, the United Arab Emirates is taking center stage in the global efforts to address climate change and sustainability. Recently, leaders have gathered for Abu Dhabi Sustainability Week, kicking off a year of events leading up to the UAE-hosted COP28 at the end of the year.
    Hanoi eyes 950 firms in support industries this year

    Hanoi eyes 950 firms in support industries this year

    Hanoi has set a target to have about 950 enterprises operating in the field of supporting industries this year, an increase of approximately 20 compared to 2022.
    Vietnam to reduce environmental impact of textile-garment industry by 2030

    Vietnam to reduce environmental impact of textile-garment industry by 2030

    The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030.
    Hai Phong pledges optimal conditions for investors

    Hai Phong pledges optimal conditions for investors

    Hai Phong will always accompany with and create optimal conditions for investors, vowed Nguyen Trung Kien, head of the Economic Zone Management Board of the northern port city, during a meeting with foreign-invested businesses in the city on January 31.
    Greening foreign investment

    Greening foreign investment

    (VEN) - The government’s declared commitment to reduce net carbon emissions to zero by 2050 has prompted a wave of high-quality, sustainable foreign direct investment (FDI) projects.
    Southeast region prepares for new FDI wave

    Southeast region prepares for new FDI wave

    The southeast region is preparing necessary conditions in infrastructure, administrative procedures and human resources to welcome a new wave of foreign direct investment (FDI), as investors have flocked to the region right from the beginning of this year.
    January FDI nears US$1.7 billion

    January FDI nears US$1.7 billion

    Vietnam attracted foreign direct investment (FDI) worth US$1.69 billion as of January 20 this year, down 19.8 percent annually, according to the General Statistics Office (GSO).
    Tax revenue up 4.4 percent year-on-year in January

    Tax revenue up 4.4 percent year-on-year in January

    Tax revenue in January was estimated at VND165.7 trillion (US$7.06 billion), or 12.1 percent of the ordinance estimate, up 4.4 percent year-on-year, the General Department of Taxation reported on January 31.
    State-owned banks under capital increase pressure

    State-owned banks under capital increase pressure

    Vietnam’s four biggest State-owned banks have an urgent need for capital increase in 2023 as their charter capital is too low, with some unable to ensure the regulated minimum capital adequacy ratio (CAR), according to industry insiders.
    Positive prospects for Vietnam’s stock market this year

    Positive prospects for Vietnam’s stock market this year

    2022 was an eventful year for the Vietnamese stock market with many records set.
    Positive 2023 securities market forecasts

    Positive 2023 securities market forecasts

    (VEN) - Vietnam’s securities market experienced strong volatility in 2022, stemming from investor caution in the face of global economic and political uncertainties.
    Vietnam looks ahead to 2023 climate summit

    Vietnam looks ahead to 2023 climate summit

    (VEN) - World leaders are hoping the COP28 Climate Change Summit, scheduled for November 30 to December 12, 2023, in the UAE will achieve expectations not met at the COP27 summit held in Egypt in November 2022.
    Preserving nature, facilitating business

    Preserving nature, facilitating business

    (VEN) - In the past few years, the natural resources and environment sector of Hung Yen Province has advised authorities on state management of natural resources and the environment, contributing to provincial economic growth, industrialization and modernization.
    AkzoNobel Vietnam protects Cu Lao Xanh lighthouse against harsh weather

    AkzoNobel Vietnam protects Cu Lao Xanh lighthouse against harsh weather

    AkzoNobel, a leading global paints and coatings company and the major producer of Dulux brand, has completed repainting the Cu Lao Xanh Lighthouse project with Dulux Weathershield®. It is the third lighthouse in Vietnam recoated under the “Lighthouse Protection Campaign” of AkzoNobel.
    JTI Vietnam commits to net zero greenhouse gas emissions

    JTI Vietnam commits to net zero greenhouse gas emissions

    Climate change is the most urgent issue of our time, and to limit its impact on life on earth, the rise in mean global temperature should not exceed 1.5°C above pre-industrial levels. The private sector plays a huge role in helping to achieve this goal, and companies must commit and take concrete action in accordance with the Paris Agreement.
    Managed security provides IT talent gap solution for businesses in SEA

    Managed security provides IT talent gap solution for businesses in SEA

    Global cybersecurity company Kaspersky today reveals the state of MSSP in the region, particularly the main benefits that local SMBs and enterprises gain from this outsourcing model.
    Headquarters of Vietnam-Korea Institute of Science and Technology inaugurated

    Headquarters of Vietnam-Korea Institute of Science and Technology inaugurated

    An inauguration ceremony of the headquarters of the Vietnam-Korea Institute of Science and Technology (VKIST) was held at the Hoa Lac Hi-tech Park in Ha Noi on January 17.
    WHO to share mRNA vaccine technology with VietNam

    WHO to share mRNA vaccine technology with VietNam

    Vietnam, along with Bangladesh, Indonesia, Pakistan and Serbia will receive support from the World Health Organization (WHO)'s mRNA technology transfer hub in South Africa, announced the World Health Organization (WHO) on February 23.
    Welcoming the year of digital data for Vietnam

    Welcoming the year of digital data for Vietnam

    (VEN) - In 2022, the government assigned more important functions and tasks in digital transformation, government, economy, society, technology, and electronic transactions to the Ministry of Information and Communications.
    Hunting for real estate investment opportunities after Tet

    Hunting for real estate investment opportunities after Tet

    Although the market faced a standstill at the end of 2022, wealthy investors are still hunting for potential business opportunities after the Lunar New Year holiday.
    Vietnamese university up 97 places in Webometrics ranking

    Vietnamese university up 97 places in Webometrics ranking

    Vietnam National University (VNU) - Hanoi climbed 97 places to rank 661st in the latest Webometrics Ranking of World Universities in 2023, which was announced on February 1 by the Cybermetrics Lab, a member of the Spanish National Research Lab.
    PM inspects national key transport projects

    PM inspects national key transport projects

    The first phase of the 652.86km North-South Expressway has 11 component projects, three of which are invested in public-private partnerships (PPP). The rest, including the Mai Sơn-National Highway 45 project, are funded with public investment.
    A great chance to invest in commercial property

    A great chance to invest in commercial property

    Vietnam's commercial real estate sector is still in its infancy and is mostly focused on Ho Chi Minh City and Hanoi. However, industry analysts assert that the market area has a great deal of untapped potential.
    Nestlé Vietnam and the journey to sustainable development

    Nestlé Vietnam and the journey to sustainable development

    (VEN) - With nearly three decades of operation in Vietnam, Nestlé Vietnam has been implementing many initiatives to improve human health and protect the planet through its commitments and sustainable development strategy. Recently, the company has continued to be honored as the Most Sustainable Business in Vietnam.
    VIMC embarks on strong recovery

    VIMC embarks on strong recovery

    (VEN) - In the context of the strong recovery of the maritime transport market, the Vietnam Maritime Corporation (VIMC) has brought into play its internal strength to achieve successful business results in 2022.
    MM Mega Market launches a new modern Giá tốt business model

    MM Mega Market launches a new modern Giá tốt business model

    Recognizing changes in shopping behaviors, MM Mega Market has publicly launched its new business model – Giá tốt. Giá tốt is currently present in big cities and provinces in Vietnam with more than 250 Giá tốt partners, including Ho Chi Minh City, Hanoi, Da Nang, Binh Duong, Bien Hoa, Quy Nhon, Buon Ma Thuot, Rach Gia, etc.
    PVCFC develops experts’ system

    PVCFC develops experts’ system

    (VEN) - The PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) recently held its annual review on accreditation of professionals and on the competency gap for experts at its headquarters in Ho Chi Minh City and Ca Mau Province.
    The woman who revived Kim Hoang folk paintings

    The woman who revived Kim Hoang folk paintings

    (VEN) - Researcher and art collector Nguyen Thi Thu Hoa has made intense efforts to revive the 18th century Kim Hoang woodcut folk painting genre, which had all but disappeared over time.
    Khmer

    Khmer's ginger cake of love and faithfulness

    According to legend, the cake is also a symbol of faithfulness between husband and wife.
    Dutch diplomat donates Vietnamese paintings to national museum

    Dutch diplomat donates Vietnamese paintings to national museum

    The ambassador collected the two lacquer paintings Kieu Hanh (Proud) and Nhung Nu Hon Tinh Yeu (Kisses of Love) when she worked in Vietnam from 1997-2001.
    Tet impressive in foreign ambassadors

    Tet impressive in foreign ambassadors' eyes

    Tet (Lunar New Year holiday) is always an interesting experience for foreigners in Vietnam. Enjoying the Tet atmosphere, foreign ambassadors have shared their feelings about the biggest traditional festival in the country.
    Vietnam listed among top places to visit in the New Year

    Vietnam listed among top places to visit in the New Year

    Vietnam has been named one of the top 20 places to visit at the beginning of the new year by UK travel magazine Wanderlust for its beautiful natural sights, festive atmosphere, and favorable weather.
    Five-day holiday for workers during Reunification Day period

    Five-day holiday for workers during Reunification Day period

    As the Hùng Kings' festival coincides with Reunification Day and International Workers' Day, workers will enjoy a rare five-day holiday.
    Vietnam plans to attract Chinese tourists

    Vietnam plans to attract Chinese tourists

    Vietnam's tourism industry has targeted to serve about 110 million tourists in 2023, including 8 million foreign visitors.
    The lure of Pu Luong

    The lure of Pu Luong

    (VEN) - Surrounded by high mountains and offering a cool climate all year round, the Pu Luong National Nature Reserve in the northern province of Thanh Hoa offers wild scenery and unique culture.
    Mobile Version