Vietnamese fashion brands struggle to compete in domestic market

imageA recent report on the local fashion market by the Vietnam Industry Research and Consultancy (VIRAC) found that Vietnamese fashion brands are losing out in the domestic market, which is increasingly dominated by international brands.

Fashion market revenue in 2020 decreased by more than 10% compared with 2019 owing to the coronavirus (Covid-19) pandemic, said the report, adding that popular local brands such as Biti’s, Canifa, Viet Tien and May 10 all ranked behind Adidas, Zara and H&M – the top three fashion retailers in Vietnam in 2020  in terms of sales.

For the full story, see the June 2021 edition of Textiles South East Asia.