Vietnam's textile industry is booming, with exports reaching US $ 36.11 billion in the first 10 months of the year. As the holiday season approaches, garment makers are gearing up for increased demand from key markets like the US and Europe. Vietnam aims to hit a record US $ 44 billion in exports this year.
Business News
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Vietnam recorded a trade surplus of US $ 2 billion in October, a decrease from the previous month as imports outpaced exports, as per reports.
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Sportwear retailer Puma has launched its first flagship in Vietnam. The launch is part of Puma’s Southeast Asian development strategy.
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Coolmate, a D2C apparel brand, has secured US $ 6 million in Series B funding led by Vertex Ventures Southeast Asia & India. This investment will fuel Coolmate’s international growth, product innovation, and commitment to sustainability across SEA.
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Vietnamese fashion retailers are facing increasing pressure from a surge of low-cost apparel and accessories imported from Chinese e-commerce platforms, as per reports.
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Vietnam’s footwear industry is experiencing remarkable growth in 2024, with exports reaching US $ 16.53 billion during the first nine months of the year, showcasing a robust 12.5 per cent year-on-year increase, according to data released by the General Statistics Office (GSO).
