Footwear Giants Aim for Vietnam Footwear Industry
Published By : 12 Aug 2014 | Published By : QYRESEARCH
The domestic footwear and leather industry in Bernama is showing positive results in the market, says Vietnam News Agency (VNA).
Many giant footwear manufacturers such as Puma, Adidas, and Nike have placed orders to different Vietnamese firms, instead of having their stock readied from Bangladesh and China.
Do Thang Hai, the Deputy Minister of Industry and Trade told an online newspaper that the region has received huge orders from reputed businesses for the first quarter of next year. He said leading reputed brands want to reduce risks in their business, and are hence expanding their operations in Vietnam to meet the rising consumer demands. The sector is in the process of improving their products and production levels to satisfy the manufacturers’ needs.
According to the global statistics, Vietnam’s footwear sector for leather shoes was predicted at 21.9 million pairs in July, with a 10.4 percent rise in comparison to the statistics seen in July 2013. Vietnam is among the top ten exporters in footwear sector. It is also the second largest region to the demanding industry in the U.S. The revenue of the footwear earned in the first seven months of the current year was 150.4 million pairs, approximately a 19.5 percent rise since the same period last year. Nevertheless, the overall turnover is 22 percent year-on-year expected to reach US$5.75 billion.
Also, as per Lefaso, Vietnam Leather and Footwear Association the year-on-year increase in the seventh month period was 25 percent.