Apparel makers seek ways to overcome difficulties ahead
With obstacles and challenges awaiting the garment and textile sector in the first half given a lack of recovery signal in global demand, most firms have prepared their schemes to overcome.
The sector earned 44 billion USD from exports in 2022, up 8.8 per cent year-on-year. The figure is aimed to hit 47-48 billion USD this year.
Stepping into 2023, apparel makers have seen quieter markets at home and abroad, recording high inventory levels and low orders for the first six months over concerns of high inflation. Overseas buyers are paying less and requiring more about the quality, sustainability, and origin of the products, while the domestic market has experienced a plunge in the number of orders, particularly for the first and second quarters which are not the peak periods of fashion in a year.
To deal with the situation, Pham Quang Anh, director of the Dony garment company, said it has found a source of new clients and developed more products serving its traditional ones.
Meanwhile, Tran Van Quy, director of the Trung Quy textile company, said his firm has turned to green, recycled, and organic goods for the US market. This means a shakeup of the factory system, labour training, and quality assessment to obtain related international accreditations, according to him.
Trung Quy has also changed the investment proportions for domestic and overseas markets to 50 per cent and 50 per cent from the previous 30 per cent and 70 per cent, respectively, Quy said.
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