(VEN) - The growing presence of foreign fashion brands in Vietnam, including Zara, H&M, Mango, and Pull & Bear, among others, is worrying Vietnamese textile and garment businesses. Le Tien Truong, General Director of the Vietnam National Textile and Garment Group (Vinatex) advises Vietnamese businesses not to try to compete directly with their foreign counterparts but to find market segments in which they can make a difference on the domestic market. Vietnamese textile and garment enterprises need to strengthen their position in the domestic market No direct confrontation Vinatex General Director Le Tien Truong said high distribution costs are threatening domestic fashion brands survival. Most of them have leased stores in major trade centers, paying rent of hundreds of millions of dong per month, he said. Domestic enterprises need to have big investment capital if they are to expand their distribution channels and have sufficient design staff. … [Read more...] about Vietnam’s textile garment firms seek domestic market segment
Importance market segmentation
Vietnam an important market, says US pork industry
Members of the US’s National Pork Board speak to the media in HCM City on September 24 during a trip to Việt Nam as part of their 10-day visit to several Asian countries. (Photo: VNA) HCM City (VNS/VNA) - Vietnam is an important market, the US National Pork Board has said. “Consumption of US pork here is on the rise, and this trip offers our industry leaders the unique opportunity to get in on the ground floor and build awareness for US pork and pork products with decision-makers,” Craig Morris, vice president of international marketing at the board, said. He was speaking to the media in HCM City on September 24. He is one of the officials and key leaders of the US pork industry who are on a 10-day trip to Singapore, Vietnam, Hong Kong, and Macau to understand consumer preferences and build relationships with buyers, influencers, retailers, and other key stakeholders. Michael Skahill, a member of the National Pork Board’s … [Read more...] about Vietnam an important market, says US pork industry
VN an important market, US pork industry says
Viet Nam News HCM CITY — Việt Nam is an important market, the US National Pork Board has said. “Consumption of US pork here is on the rise, and this trip offers our industry leaders the unique opportunity to get in on the ground floor and build awareness for US pork and pork products with decision-makers,” Craig Morris, vice president of international marketing at the board, said. He was speaking to the media in HCM City on Monday. He is one of the officials and key leaders of the US pork industry who are on a 10-day trip to Singapore, Việt Nam, Hong Kong, and Macau to understand consumer preferences and build relationships with buyers, influencers, retailers, and other key stakeholders. Michael Skahill, a member of the National Pork Board’s international marketing committee, said Việt Nam was the fastest growing economy in Asia, and consumers here were demanding food products, leading to more demand for pork products, including … [Read more...] about VN an important market, US pork industry says
Dairy producers run race in high-end market segment
VietNamNet Bridge - Domestic dairy producers are developing their A2 milk cow herds to serve their plan to make A2 milk, starting a new race in the high-end market segment. TH's milk cow farm In late June, both Vinamilk and TH True Milk, the two largest dairy producers in Vietnam, announced the development of A2 milk cows and the launch of A2 milk in the near future. While Vinamilk imported 200 purebred A2 cows, TH True Milk chose to develop 500 A2 cows selected from its herd available in TH's farm in Nghe An province. In Vietnam, A2 cow and A2 milk remain unfamiliar concepts. Scientists say most primitive purebred cows produced the milk containing only beta-casein A2. After an evolutionary process, beta-casein A1 has appeared in milk. And now, there are both A1 and A2 protein in milk and so far, fresh milk contains both A1 and A2. In a randomized cow herd, there are about 30 percent of A2 cows. A2 milk has an amino acid sequence close to breast milk, which helps … [Read more...] about Dairy producers run race in high-end market segment
Imports of phones, phone parts from China rise
Imports of phones, phone parts from China riseBy Hung Le Xiaomi smart phones are introduced in HCMC - PHOTO: HUNG LE HCMC - Although Vietnam’s imports of phones and phone parts in the year’s first half saw a slight decline, the import value of these products from China picked up, according to the General Department of Vietnam Customs. Data from the customs authority showed that Vietnam imported US$5.99 billion worth of phones and phone parts in the January-June period, down 4% against the same period a year earlier. Among the import markets, imports from South Korea dropped by 12.7% year-on-year to US$2 billion. Vietnam spent US$3.63 billion importing phones and phone parts from China in the six-month period, equivalent to 60.6% of total imports for these products during the period and up 11.8% year-on-year, data from the customs authority showed. The rising import value of these products from China is attributed to the deeper market penetration of Chinese phone … [Read more...] about Imports of phones, phone parts from China rise
Premium product market to take off in Vietnam
Premium products on display at a Vietnam International Premium Products Fair held in HCM City last month (Photo: VNA) HCM City (VNA) - Mollis organic towels of Phong Phu Corporation have received “very good response” in the market after being launched last year, a sign that premium products are becoming more popular in Vietnam. Doan Anh Dao, sales and marketing manager of the Phong Phu Corporation, said the towels, which are made from 100 percent imported cotton, are strictly inspected by the Control Union from all stages, from input to output to sales and inventory. They are priced 30-40 percent higher than that of normal cotton towels. “Sales of the products via Con Cung shops are very good. At Co.opmart, Big C, Aeon and some Vinmart stores, more and more customers know about the products,” Dao said. According to retailers, sales of Vinamilk organic fresh milk have also been very good since its launch despite their much higher price compared to normal … [Read more...] about Premium product market to take off in Vietnam
Premium product market in VN set to take off
Mollis organic towels of Phong Phu Corporation have received “very good response” in the market after being launched last year, a sign that premium products are becoming more popular in Viet Nam. Doan Anh Dao, sales and marketing manager of Phong Phu Corporation, said the towels, which are made from 100 per cent imported cotton, are strictly inspected by the Control Union from all stages, from input to output to sales and inventory. They are priced 30-40 per cent higher than that of normal cotton towels. “Sales of the products via Con Cung shops are very good. At Co.opmart, Big C, Aeon and some Vinmart stores, more and more customers know about the products,” Dao said. According to retailers, sales of Vinamilk organic fresh milk have also been very good since its launch despite their much higher price compared to normal products. Realising the potential of the Vietnamese market, many foreign companies via exhibitions and fairs want to seek business partners to … [Read more...] about Premium product market in VN set to take off
Foreign companies tap into Vietnam’s elderly market
Foreign companies are increasingly rolling out new products targeting the growing elderly market in Vietnam. Foreign companies sees major opportunities to develop products for the elderly Vietnam is one of the countries with the fastest aging population, the number of individuals aged 50 and above is projected to reachmore than 30 million by 2030.With more adults living longer than before, they are looking to lead active and healthy lifestyles as they get older. Muscle loss has been shown to be a key factor that can interfere with adults' quality of life due to lack of strength. Good nutrition is critical in maintaining muscle health and strength with age. Dairy maker Abbott has recently launched its new Ensure Gold formula with the nutritional ingredient HMB to support muscle health. HMB is naturally found in small amounts in some food and in the body, and levels may decline with age. HMB has been shown to support muscle health. ''As part of our continued long-term … [Read more...] about Foreign companies tap into Vietnam’s elderly market
Viet Nam dominates Canada’s shrimp market
Consumers in Canada increasingly prefer processed seafood, especially processed and frozen shrimps, due to their high usability. Shrimp dishes are increasingly becoming popular in restaurants too. — Photo ndh.vn Viet Nam’s shrimp export value to Canada reached US$27.7 million by March 2018, a year-on-year increase of 16 per cent, according to Viet Nam Association of Seafood Exporters and Producers (VASEP). For many years, Canada has been among the top 10 shrimp import markets of Viet Nam. Although shrimp exports to Canada has not grown noticeably and continuously, the country is still considered a potential market for Vietnamese shrimp products due to its proximity to the United States and high living standards of the Canadian people. Canada imports an average of over 50,000 tonnes of shrimps every year. From 2013 to date, the volume of shrimps imported by Canada has increased from 48,000 tonnes to 55,000 tonnes. In 2017, shrimp imports value to Canada reached $546.5 … [Read more...] about Viet Nam dominates Canada’s shrimp market
Mid-end condominium segment has explosive growth potential in Vietnam
EZ Land is a real estate developer operating under the Affordable Housing Fund, SLP (previously called Key SICAV SIF), an international investment fund from Luxembourg. With a strong capital base from Europe, the developer is targeting the mid-income segment in Ho Chi Minh City. Its first project, HausNeo, is located in District 9 with a total investment of over $25 million. Do Ngoc Olivier Dung, CEO of EZ Land, shares his opinion on the mid-income segment and homebuyers in Vietnam. Together with local real estate companies, many international investors are also targeting the mid-income market, creating fierce competition. Knowing that to be the situation, why did you decide to target this segment? I started investing in Vietnam in the luxury hospitality sector; however, after 10 years of living here, in addition to our expertise regarding similar markets in other countries, I believe that we have the local knowledge now to understand consumers in the mid- income segment which has … [Read more...] about Mid-end condominium segment has explosive growth potential in Vietnam