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    January 2020

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    January 2020| 48 Pages

    Our ‘Cover Story’ reveals that with fast growing middle-class, Vietnam is seeing a rapid growth in its apparel retail sector. According to Statista, revenue in 2019 which amounted to US $ 717 million is expected to cross US $ 1,000 million by 2023 with the entry of foreign brands into the country. For some years there has also been an increase in foreign investment on accessories – from US $ 36 billion in 2018 to US $ 39 billion in 2019. While, German-based Amann Group – one of the biggest producers of high-quality sewing and embroidery threads in the world – initiated the construction of its sewing factory, the South Korean firm Rio Industries opened its US $ 12 million polyester yarn production factory. Earlier, in 2018, the Government issued licence to Japanese firm YKK Ha Nam to set up US $ 80 million zippers factory here.

    Team AOV also talks to ‘Chula’, country’s popular fashion brand. Interestingly, the first ‘Chula’ dress was made by a lady worker who was completely deaf. Henceforth, as a conscious decision, the company employed people with some physical disability, and today almost 85% of the workforce has some or the other physical limitation.

    Besides, ‘Better Work’ programme – a co-operation between the ILO and the International Finance Corporation, and a member of the World Bank Group, has been providing support packages to the factories in boosting productivity and profits. A report…

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