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VN firms face fast fashion outsourcing challenges

At a seminar ‘Is Viet Nam apparel industry ready for fast fashion?’ held in HCM City, Nguyen Thi Tuyet Mai, VITAS’ Deputy General Secretary, said the segment has seen rapid growth in the last few years. Though there are numerous issues related to sustainability of fast fashion products, their popularity among consumers is expanding dramatically.

Saurav Ujjain, Southeast Asia Business Head at ThreadSol, a Singapore-based technology company in the apparel industry, said globally styles are increasing at a 17.9 per cent CAGR. A majority of fashion brands have shifted to the fast-fashion segment as demand is for high variety, low volume and short lead times, therefore, there is intense pressure on apparel manufacturers to speed up their processes.

Mai’s assessment was Vietnamese firms have for long been outsourcing contracts but outsourcing fast fashion would be a big challenge for many of them. In recent years, Viet Nam has become a destination for major international fast fashion brands due in large part to its large young population and increasing incomes. Consequently, brands such as Zara, H&M, Topshop and Mango are rushing to open more shops in the country.

ThreadSol presented its range of innovative solutions for Viet Nam’s apparel industry. They included materials management model. From correct purchases of fabric, to intelloBuy, to the most accurate planning, to cut fabric through intelloCut, these solutions can help manufacturers boost revenues and profits.

Mai said Viet Nam’s garment industry developed strongly in 2010-15, growing at 17 per cent a year. In the first nine months of this year, garment and textile exports were valued at nearly $23 billion, a year-on-year increase of 9.3 per cent, she said, adding that the full-year figure is expected to top $30.5 billion.