Vietnamese garment makers seek market opportunities at US fashion trade show
VOV.VN - Twenty-five Vietnamese garment makers have showcased their products at the recent Sourcing at Magic Fashion Trade Show in Las Vegas, USA, to sound out market opportunities, according to the Vietnam Textile and Apparel Association (VITAS).
They displayed a wide range of products made by different materials and in different patterns and designs on 16 pavilions, that attracted a lot of attention from participating businesses and visitors during the August 19-21 event.
The United States is a traditional export market of Vietnamese textiles and garments, accounting for a large turnover. The first six months of 2024 saw the United States import US$7.2 billion worth of the products from Vietnam, making up 7.2% of the US market share, second only to China.
However, the United States importers are tightening regulations on imported products, especially with supply chain control. VITAS has advised garment makers to diversify supply sources of materials from new markets, instead of relying on China that supplies more than 50% of the materials to the Vietnamese garment industry.
Currently, many local garment makers have imported materials from the Republic of Korea, India and Japan, among other markets.
The Government has approved the Strategy for development of Vietnam’s Textiles, Clothing, Leather and Footwear industries to 2030, with a vision to 2035, which emphasizes domestic supplies of materials. Businesses are encouraged to promote investment in modern technology in production, thereby gradually solving difficulties and proactively controlling supply sources to reduce dependence.
