Several leading footwear companies in Vietnam have secured contracts extending through mid-2025, according to Phan Thi Thanh Xuan, vice chairwoman and general secretary of the Vietnam Leather, Footwear, and Handbag Association (LEFASO).

Export revenue of the leather, footwear and handbag sector is predicted to hit US$26-27 billion in 2024 on the basis of the positive results seen so far, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).

A series of events were held in Ho Chi Minh City from July 10-12 to promote trade exchanges among leather and footwear businesses of Vietnam and Italy.

Foreign direct investment (FDI) firms, rather than the domestic ones, are able to fully tap the production shift of large brands, according to industry insiders.

Domestic leather and footwear firms have no choice but to convert their production activities as difficulties are expected to linger through this year due to the impact of the COVID-19 pandemic, experts have said.