Apparel_And_Footwear_In_Vietnam(Full_Market_Report) Fashion.pdf

Apparel and Footwear in Vietnam
Euromonitor International
January 2023


APPAREL AND FOOTWEAR IN VIETNAM

LIST OF CONTENTS AND TABLES
Apparel and Footwear in Vietnam - Industry Overview ................................................................ 1
EXECUTIVE SUMMARY .............................................................................................................. 1
Apparel and footwear in 2022: The big picture ......................................................................... 1
2022 key trends ........................................................................................................................ 1
Competitive landscape ............................................................................................................. 2
Retail developments ................................................................................................................. 3
What next for apparel and footwear? ........................................................................................ 3
MARKET DATA ............................................................................................................................ 3
Table 1
Table 2
Table 3
Table 4
Table 5
Table 6
Table 7
Table 8
Table 9
Table 10
Table 11
Table 12

Sales of Apparel and Footwear by Category: Volume 2017-2022................ 3
Sales of Apparel and Footwear by Category: Value 2017-2022................... 4

Sales of Apparel and Footwear by Category: % Volume Growth 20172022 ............................................................................................................. 4
Sales of Apparel and Footwear by Category: % Value Growth 20172022 ............................................................................................................. 4
NBO Company Shares of Apparel and Footwear: % Value 2018-2022 ....... 4
LBN Brand Shares of Apparel and Footwear: % Value 2019-2022 .............. 5
Distribution of Apparel and Footwear by Format: % Value 2017-2022 ......... 6
Distribution of Apparel and Footwear by Format and Category: %
Value 2022 ................................................................................................... 7
Forecast Sales of Apparel and Footwear by Category: Volume 20222027 ............................................................................................................. 8
Forecast Sales of Apparel and Footwear by Category: Value 20222027 ............................................................................................................. 8
Forecast Sales of Apparel and Footwear by Category: % Volume
Growth 2022-2027 ....................................................................................... 8
Forecast Sales of Apparel and Footwear by Category: % Value
Growth 2022-2027 ....................................................................................... 8

DISCLAIMER ............................................................................................................................... 9
SOURCES.................................................................................................................................... 9
Summary 1

Research Sources ........................................................................................ 9

Childrenswear in Vietnam - Category Analysis........................................................................... 11
KEY DATA FINDINGS................................................................................................................ 11
2022 DEVELOPMENTS ............................................................................................................. 11
Childrenswear rebounds strongly, as parents now more confident to take their children out
again ....................................................................................................................................... 11
Parents are paying more attention to the characteristics of the materials in the clothing they
select for their children ............................................................................................................ 11
Growth of e-commerce helps to boost sales of childrenswear ................................................ 12
PROSPECTS AND OPPORTUNITIES....................................................................................... 12
Ongoing positive growth expected, with boys’ apparel slightly outperforming apparel for girls12

Online shopping trends set to continue over the forecast period, although counterfeit goods
will suppress potential sales ................................................................................................... 12
Fiercer competition expected in A highly fragmented category .............................................. 13
CATEGORY DATA ..................................................................................................................... 13
Table 13
Table 14

Sales of Childrenswear by Category: Volume 2017-2022 .......................... 13
Sales of Childrenswear by Category: Value 2017-2022 ............................. 13

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Table 15
Table 16
Table 17
Table 18
Table 19
Table 20
Table 21
Table 22

Sales of Childrenswear by Category: % Volume Growth 2017-2022 ......... 13
Sales of Childrenswear by Category: % Value Growth 2017-2022 ............ 14

NBO Company Shares of Childrenswear: % Value 2018-2022 .................. 14
LBN Brand Shares of Childrenswear: % Value 2019-2022 ........................ 14
Forecast Sales of Childrenswear by Category: Volume 2022-2027 ........... 15
Forecast Sales of Childrenswear by Category: Value 2022-2027 .............. 15
Forecast Sales of Childrenswear by Category: % Volume Growth
2022-2027 .................................................................................................. 15
Forecast Sales of Childrenswear by Category: % Value Growth 20222027 ........................................................................................................... 15

Apparel Accessories in Vietnam - Category Analysis ................................................................. 17
KEY DATA FINDINGS................................................................................................................ 17
2022 DEVELOPMENTS ............................................................................................................. 17
Post-pandemic landscape heralds polarised trends for apparel accessories ......................... 17
Demand for more sophisticated accessories boosted by rising living standards .................... 17
Unbranded and counterfeit products will continue to dominate overall ................................... 18
PROSPECTS AND OPPORTUNITIES....................................................................................... 18
Apparel accessories will maintain positive growth, in line with out-of-home lifestyles ............ 18
Other accessories expected to remain in negative figures due to negation of fashion face
masks ..................................................................................................................................... 18
E-commerce channel set to remain popular, thanks to wide ranges and low prices ............... 18
CATEGORY DATA ..................................................................................................................... 19
Table 23
Table 24
Table 25
Table 26
Table 27
Table 28
Table 29
Table 30
Table 31
Table 32

Sales of Apparel Accessories by Category: Volume 2017-2022 ................ 19
Sales of Apparel Accessories by Category: Value 2017-2022 ................... 19
Sales of Apparel Accessories by Category: % Volume Growth 20172022 ........................................................................................................... 19
Sales of Apparel Accessories by Category: % Value Growth 20172022 ........................................................................................................... 20
NBO Company Shares of Apparel Accessories: % Value 2018-2022 ........ 20
LBN Brand Shares of Apparel Accessories: % Value 2019-2022 .............. 20
Forecast Sales of Apparel Accessories by Category: Volume 20222027 ........................................................................................................... 21
Forecast Sales of Apparel Accessories by Category: Value 20222027 ........................................................................................................... 22
Forecast Sales of Apparel Accessories by Category: % Volume
Growth 2022-2027 ..................................................................................... 22
Forecast Sales of Apparel Accessories by Category: % Value Growth
2022-2027 .................................................................................................. 22

Menswear in Vietnam - Category Analysis ................................................................................. 24
KEY DATA FINDINGS................................................................................................................ 24
2022 DEVELOPMENTS ............................................................................................................. 24
High quality and innovative materials are the trends driving menswear ................................. 24
Menswear rebounds robustly in line with the reopening of society after the pandemic era .... 24
E-commerce and social media platforms become key to reaching consumers ...................... 25
PROSPECTS AND OPPORTUNITIES....................................................................................... 25
Ongoing positive growth to continue, albeit at slower rates than seen during the 2022 rebound25
Ongoing price-sensitivity means mass brands and unbranded products will be more popular
than premium brands .............................................................................................................. 25
Ongoing demand for functional materials, with local players leading the charge .................... 26

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CATEGORY DATA ..................................................................................................................... 26
Table 33
Table 34
Table 35
Table 36
Table 37
Table 38
Table 39
Table 40
Table 41
Table 42
Table 43
Table 44
Table 45
Table 46
Table 47
Table 48
Table 49
Table 50

Sales of Menswear by Category: Volume 2017-2022 ................................ 26
Sales of Menswear by Category: Value 2017-2022 ................................... 27
Sales of Menswear by Category: % Volume Growth 2017-2022................ 27
Sales of Menswear by Category: % Value Growth 2017-2022................... 28
NBO Company Shares of Menswear: % Value 2018-2022 ........................ 28

LBN Brand Shares of Menswear: % Value 2019-2022............................... 29
NBO Company Shares of Men’s Nightwear: % Value 2018-2022 .............. 30
LBN Brand Shares of Men’s Nightwear: % Value 2019-2022 .................... 30
NBO Company Shares of Men’s Outerwear: % Value 2018-2022 ............. 31
LBN Brand Shares of Men’s Outerwear: % Value 2019-2022 .................... 31
NBO Company Shares of Men’s Swimwear: % Value 2018-2022 ............. 32
LBN Brand Shares of Men’s Swimwear: % Value 2019-2022 .................... 33
NBO Company Shares of Men’s Underwear: % Value 2018-2022 ............ 33
LBN Brand Shares of Men’s Underwear: % Value 2019-2022 ................... 33
Forecast Sales of Menswear by Category: Volume 2022-2027 ................. 34
Forecast Sales of Menswear by Category: Value 2022-2027 .................... 34
Forecast Sales of Menswear by Category: % Volume Growth 20222027 ........................................................................................................... 35
Forecast Sales of Menswear by Category: % Value Growth 20222027 ........................................................................................................... 35

Womenswear in Vietnam - Category Analysis............................................................................ 37
KEY DATA FINDINGS................................................................................................................ 37
2022 DEVELOPMENTS ............................................................................................................. 37
All subcategories rebound to positive growth, thanks to the reopening of society after the
fourth and final COVID-19 wave ............................................................................................. 37
Fast fashion brands continues to gain favour with Vietnamese consumers ............................ 37
Livestreaming continues to support growth in womenswear, as omnichannel strategies
become more important .......................................................................................................... 38
PROSPECTS AND OPPORTUNITIES....................................................................................... 38
Womenswear expected to maintain healthy growth over the forecast period ......................... 39
Online shopping and livestreaming will continue to grow........................................................ 39
Competition expected to ramp up over the forecast period .................................................... 39
CATEGORY DATA ..................................................................................................................... 39
Table 51
Table 52
Table 53

Table 54
Table 55
Table 56
Table 57
Table 58
Table 59
Table 60
Table 61
Table 62
Table 63
Table 64
Table 65

Sales of Womenswear by Category: Volume 2017-2022 ........................... 39
Sales of Womenswear by Category: Value 2017-2022 .............................. 40
Sales of Womenswear by Category: % Volume Growth 2017-2022 .......... 41
Sales of Womenswear by Category: % Value Growth 2017-2022 ............. 41
NBO Company Shares of Womenswear: % Value 2018-2022................... 42
LBN Brand Shares of Womenswear: % Value 2019-2022 ......................... 42
NBO Company Shares of Women's Nightwear: % Value 2018-2022......... 44
LBN Brand Shares of Women's Nightwear: % Value 2019-2022 ............... 44
NBO Company Shares of Women's Outerwear: % Value 2018-2022 ........ 44
LBN Brand Shares of Women's Outerwear: % Value 2019-2022............... 45
NBO Company Shares of Women’s Swimwear: % Value 2018-2022 ........ 46
LBN Brand Shares of Women’s Swimwear: % Value 2019-2022 ............... 47
NBO Company Shares of Women's Underwear: % Value 2018-2022 ....... 47
LBN Brand Shares of Women's Underwear: % Value 2019-2022 .............. 47
Forecast Sales of Womenswear by Category: Volume 2022-2027 ............ 48

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Table 66
Table 67
Table 68

Forecast Sales of Womenswear by Category: Value 2022-2027 ............... 49
Forecast Sales of Womenswear by Category: % Volume Growth
2022-2027 .................................................................................................. 49
Forecast Sales of Womenswear by Category: % Value Growth 20222027 ........................................................................................................... 50

Jeans in Vietnam - Category Analysis ........................................................................................ 51
KEY DATA FINDINGS................................................................................................................ 51
2022 DEVELOPMENTS ............................................................................................................. 51
Jeans return to popularity as consumers resume out-of-home lifestyles ................................ 51
Mass brands and unbranded products rebound faster than premium brands ......................... 51
New denim trends help to boost sales of jeans in 2022 .......................................................... 51
PROSPECTS AND OPPORTUNITIES....................................................................................... 52
Jeans is expected to see strong CAGR over the forecast period ........................................... 52
Strong development of fast fashion brands threatens growth rate of local companies ........... 52
Jeans set to benefit from the cross-category trend of e-commerce growth ............................ 52
CATEGORY DATA ..................................................................................................................... 53
Table 69
Table 70

Table 71
Table 72
Table 73
Table 74
Table 75
Table 76
Table 77
Table 78
Table 79
Table 80
Table 81
Table 82
Table 83
Table 84
Table 85
Table 87
Table 88
Table 89
Table 90
Table 91
Table 92
Table 93
Table 94

Sales of Jeans by Category: Volume 2017-2022 ....................................... 53
Sales of Jeans by Category: Value 2017-2022 .......................................... 53
Sales of Jeans by Category: % Volume Growth 2017-2022....................... 53
Sales of Jeans by Category: % Value Growth 2017-2022.......................... 54
Sales of Men’s Jeans by Category: Volume 2017-2022 ............................. 54
Sales of Men’s Jeans by Category: Value 2017-2022 ................................ 54

Sales of Men’s Jeans by Category: % Volume Growth 2017-2022 ............ 54
Sales of Men’s Jeans by Category: % Value Growth 2017-2022 ............... 55
Sales of Women’s Jeans by Category: Volume 2017-2022 ....................... 55
Sales of Women’s Jeans by Category: Value 2017-2022 .......................... 55
Sales of Women’s Jeans by Category: % Volume Growth 2017-2022 ....... 56
Sales of Women’s Jeans by Category: % Value Growth 2017-2022 .......... 56
NBO Company Shares of Jeans: % Value 2018-2022 ............................... 56
LBN Brand Shares of Jeans: % Value 2019-2022 ..................................... 57
Forecast Sales of Jeans by Category: Volume 2022-2027 ........................ 57
Forecast Sales of Jeans by Category: Value 2022-2027 ........................... 58
Forecast Sales of Jeans by Category: % Volume Growth 2022-2027 ........ 58
Forecast Sales of Men’s Jeans by Category: Volume 2022-2027 .............. 58
Forecast Sales of Men’s Jeans by Category: Value 2022-2027 ................. 59
Forecast Sales of Men’s Jeans by Category: % Volume Growth 20222027 ........................................................................................................... 59
Forecast Sales of Men’s Jeans by Category: % Value Growth 20222027 ........................................................................................................... 59
Forecast Sales of Women’s Jeans by Category: Volume 2022-2027 ........ 59
Forecast Sales of Women’s Jeans by Category: Value 2022-2027 ........... 60
Forecast Sales of Women’s Jeans by Category: % Volume Growth
2022-2027 .................................................................................................. 60
Forecast Sales of Women’s Jeans by Category: % Value Growth
2022-2027 .................................................................................................. 60

Hosiery in Vietnam - Category Analysis ..................................................................................... 62
KEY DATA FINDINGS................................................................................................................ 62
2022 DEVELOPMENTS ............................................................................................................. 62
Women re-embrace sheer hosiery as they return to workplaces and social events ............... 62

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Fragmented category high in unbranded and counterfeit goods ............................................. 62
Rising living standards lead to consumers paying more attention to quality ........................... 63
PROSPECTS AND OPPORTUNITIES....................................................................................... 63
Health and wellness trends expected to boost demand for hosiery ........................................ 63
Unbranded and counterfeit products expected to continue dominating hosiery ...................... 64
E-commerce channel set to remain popular, thanks to wide ranges and low prices ............... 64
CATEGORY DATA ..................................................................................................................... 64
Table 95
Table 96
Table 97
Table 98
Table 99
Table 100
Table 101
Table 102
Table 103
Table 104

Sales of Hosiery by Category: Volume 2017-2022 ..................................... 64
Sales of Hosiery by Category: Value 2017-2022 ........................................ 64
Sales of Hosiery by Category: % Volume Growth 2017-2022 .................... 64
Sales of Hosiery by Category: % Value Growth 2017-2022 ....................... 65
NBO Company Shares of Hosiery: % Value 2018-2022 ............................ 65
LBN Brand Shares of Hosiery: % Value 2019-2022 ................................... 65

Forecast Sales of Hosiery by Category: Volume 2022-2027 ...................... 66
Forecast Sales of Hosiery by Category: Value 2022-2027 ......................... 66
Forecast Sales of Hosiery by Category: % Volume Growth 2022-2027 ..... 66
Forecast Sales of Hosiery by Category: % Value Growth 2022-2027 ........ 66

Footwear in Vietnam - Category Analysis................................................................................... 68
KEY DATA FINDINGS................................................................................................................ 68
2022 DEVELOPMENTS ............................................................................................................. 68
Footwear back on the front-foot with the reopening of society ................................................ 68
Mass brands and unbranded products rebound more strongly than premium variants .......... 68
Consumers start to pay more attention to specialist footwear ................................................ 69
PROSPECTS AND OPPORTUNITIES....................................................................................... 69
Forecast growth in footwear driven by out-of-home and active lifestyles, alongside fashion
trends ...................................................................................................................................... 70
E-commerce will continue to benefit, albeit omnichannel options will be key ......................... 70
Competitive status quo expected to remain the same ............................................................ 70
CATEGORY DATA ..................................................................................................................... 70
Table 105
Table 106
Table 107
Table 108
Table 109
Table 110
Table 111
Table 112
Table 113
Table 114
Table 115

Sales of Footwear by Category: Volume 2017-2022 .................................. 70

Sales of Footwear by Category: Value 2017-2022 ..................................... 71
Sales of Footwear by Category: % Volume Growth 2017-2022 ................. 71
Sales of Footwear by Category: % Value Growth 2017-2022 .................... 71
NBO Company Shares of Footwear: % Value 2018-2022.......................... 71
LBN Brand Shares of Footwear: % Value 2019-2022 ................................ 72
Distribution of Footwear by Format: % Value 2017-2022 ........................... 73
Forecast Sales of Footwear by Category: Volume 2022-2027 ................... 73
Forecast Sales of Footwear by Category: Value 2022-2027 ...................... 74
Forecast Sales of Footwear by Category: % Volume Growth 20222027 ........................................................................................................... 74
Forecast Sales of Footwear by Category: % Value Growth 2022-2027 ..... 74

Sportswear in Vietnam - Category Analysis ............................................................................... 75
KEY DATA FINDINGS................................................................................................................ 75
2022 DEVELOPMENTS ............................................................................................................. 75
Sportswear shows A healthy rebound with the resumption of sporting activities .................... 75
Consumers show A growing interest in sportswear innovations ............................................. 76
E-commerce sales of sportswear boosted during the era of the pandemic ............................ 76
PROSPECTS AND OPPORTUNITIES....................................................................................... 76

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Health and wellness trends will continue to drive sales over the forecast period .................... 76
Inflationary pressures may limit the growth of sportswear ...................................................... 77

International brands such as adidas and Nike will continue to lead sportswear ..................... 77
CATEGORY DATA ..................................................................................................................... 77
Table 116
Table 117
Table 118
Table 119
Table 120
Table 121
Table 122

Sales of Sportswear by Category: Value 2017-2022 .................................. 77
Sales of Sportswear by Category: % Value Growth 2017-2022 ................. 78
NBO Company Shares of Sportswear: % Value 2018-2022 ...................... 78
LBN Brand Shares of Sportswear: % Value 2019-2022 ............................. 78
Distribution of Sportswear by Format: % Value 2017-2022 ........................ 79
Forecast Sales of Sportswear by Category: Value 2022-2027 ................... 80
Forecast Sales of Sportswear by Category: % Value Growth 20222027 ........................................................................................................... 80

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APPAREL AND FOOTWEAR IN VIETNAM

APPAREL AND FOOTWEAR IN
VIETNAM - INDUSTRY OVERVIEW
EXECUTIVE SUMMARY

Apparel and footwear in 2022: The big picture
Apparel and footwear has rebounded in 2022, thanks to the reopening of society following the
pandemic restrictions and with COVID-19 now assigned to history. According to the Ministry of
Health, Vietnam controlled the outbreaks well and saw four waves of the virus: the first from 23
January to 16 April 2020 (with no deaths reported); the second from 25 July to 1 December
2020 (with fewer than 50 deaths in vulnerable patients); the third from 28 January to 25 March
2021 (with no deaths reported); and the fourth from 27 April 2021 to September 2021 (which
was the most disruptive, placing a significant strain on the entire system and resulting in over
15,000 reported deaths). As such, it is clear to see why it has taken until 2022 for society to
reopen, as consumers were fearful during and following the most severe, fourth wave.
However, 2022 heralds a fresh start and a return to out-of-home activities, thus finally
boosting sales of apparel and footwear. Moreover, the resumption of travel and tourism (both
inbound and outbound) is also helping to boost sales. It is noted that the Vietnamese
government has launched various promotional campaigns to stimulate travel, such as the “Live
fully in Vietnam” campaign which was launched at the end of 2021 in line with the World Travel
Awards (WTA) honouring Vietnam as Asia’s Leading Destination 2021, and this is expected to
further stimulate sales over the forecast period.
All categories in apparel and footwear are showing double-digit positive growth in 2022, with
childrenswear and jeans the strongest in value terms, and apparel accessories the weakest.
These dynamics are because childrenswear has a shorter lifecycle due to the fact that children
grow and their apparel and footwear therefore needs updating, while jeans benefits from
consumers returning to out-of-home lifestyles (jeans are not as comfortable as, say, sportswear,
thus better suited for outerwear as opposed to lounging at home). On the other hand, apparel
accessories has been hit by the negation of fashion face masks which saw astounding tripledigit growth in 2020 due to necessity during the era of the pandemic.
However, challenges come from inflationary pressures and ongoing economic uncertainty,
which means many consumers remain price-sensitive and likely to reassign spending from nonessential to essential costs – thus placing downwards pressure on some apparel and footwear
subcategories. Additionally, in this environment, consumers are limiting their spending when
they do purchase apparel – for example, the lowest value sales in both womenswear and
menswear are seen in super premium jeans. That said, it is noted that inflation is being well
controlled by the government in Vietnam and was recorded at 3.8% in August 2022 [source:

General Statistics Office].

2022 key trends
There are a number of trends seen in apparel and footwear in Vietnam in 2022. Despite the
aforementioned price-sensitivity, overall rising living standards in the country are leading
consumers to pay more attention to the quality and characteristics of product materials. With
regards to quality, it is crucial for players to find the right ratio whereby they can offer high
standard garments for affordable prices. With regards to functional materials, we are seeing
innovations in both technical developments and sustainability. Within this environment, local

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brands such as Viet Tien (Viet Tien Garment JSC), Gumac (Gumac Vietnam Co Ltd), and ecommerce platform Coolmate, are focusing on fabrics including bamboo fibre (which is
environmentally-friendly, antiwrinkle, non-shrinking, and helps to cool body temperature) and
nano-tech polyester fibre (UV resistant) in order to compete with international brands and
unbranded products. Areas of interest include air-dry, sun protection, water resistance,
antiwrinkle, breathable, sweat absorbent, and more. Among these, air-dry and UV protection are
the more popular functions as they are suitable for tropical weather and high UV radiation, which
is befitting of the weather climate in Vietnam.
A second trend is the rise of fast fashion, especially in large cities such as Hanoi, Ho Chi Minh
and Danang. This is due to ongoing globalisation and the associated rising interest in Western
fashions. Fast fashion brands such as H&M (H&M Hennes & Mauritz Vietnam Co Ltd), Zara
(Inditex, Industria de Diseño Textil SA) and Uniqlo (Uniqlo Vietnam Co Ltd) have been receiving

greater attention from Vietnamese consumers due to their strong brand reputations and wide
variety of products and designs available.
The other major trend is that of e-commerce, livestreaming, and omnichannel strategies.
Livestreaming has become an effective method for companies to reach more customers, as
they can see an overview of clothes, including design and materials, without visiting brick-andmortar stores. It is noted that, in 2021, many cities and provinces in Vietnam went into a
lockdown, including Ho Chi Minh City and Hanoi, from May to September. During the lockdown,
apparel and footwear specialist retailers and department stores were required to close.
However, unlike in 2020, home delivery of apparel and footwear products purchased online was
not allowed. Now, in 2022, such methods continue to lend themselves well to omnichannel
strategies. Indeed, livestreaming offers convenience and time-saving attributes for consumers,
whereby they can browse before they either order online or visit a brick-and-mortar store.

Competitive landscape
Apparel and footwear is highly fragmented in Vietnam, with the largest brand shares being
held by unbranded “others” and counterfeit goods. Indeed, counterfeit goods are widespread in
the country, with strong distribution networks, easy accessibility, and low prices. This means
that brands only hold very small shares across all categories. Only sportswear and apparel
accessories see brand names holding double digit shares – adidas (adidas Vietnam Co Ltd) in
sportswear, due to the global name being perceived as a status item; and H&M (H&M Hennes &
Mauritz Vietnam Co Ltd) and Zara (Inditex, Industria de Diseño Textil SA) in apparel
accessories due to the rise of fast fashion brands and the fact that apparel accessories is an
overall affordable category.
Among the fast fashion brands, Uniqlo (Uniqlo Vietnam Co Ltd) is particularly popular. This
success is attributed to the brand’s channel expansion in the country, as it has been growing
rapidly through the opening of retail outlets across the major cities. It is noted that, following FTA
agreements with Japan and Korea, and the joining of the Trans-Pacific Partnership and APEC in
the review period, Vietnam has become attractive for foreign players, thus fuelling overall
competition, and leading to Uniqlo opening its first store in Ho Chi Minh at the end of 2019.
While fast fashion brands penetrate the territory, local brands are focusing on improving the
quality and designs of their apparel (as per the aforementioned developments in functional

materials), along with enhancing their digital activities. For example, domestic brands such as
Gumac (Gumac Vietnam Co Ltd), Ivy Moda (Du Kim JSC), and SixDo are very active in running
livestreams, both via social media platform such as Facebook and also across e-commerce
platforms such as Tiki, Shopee and Lazada. Indeed, Lazada Vietnam invited various celebrities
such as Huynh Lap, Cat Tuong and Duy Khanh to join their livestreams and try to use products
and offer feedback from their experiences to customers. Besides local brands, the

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aforementioned Uniqlo also runs livestreams together with popular celebrities, through social
networks such as Facebook, thus to introduce its new products.

Retail developments
In 2022, both international and local players have continued to increase their presence
through online channels as a sustainable strategy to reach customers and promote their
products. Players will continue to utilise digital marketing as an effective way to reach out to
consumers, from building their own website offerings to increasing interaction on social media
platforms such as Facebook and TikTok, livestreaming, partnering with influencers and
celebrities, and working with third party online platforms such as Shopee, Lazada and Tiki.
Online shopping trends – and livestreaming – will continue to grow over the forecast period.
Indeed, it is noted that the government will support and assist businesses in their digital

transformation processes, as well as enhance infrastructure systems and e-commerce support
services. These efforts are said to have been inspired by the event of the pandemic and the
enforced move to e-commerce. Furthermore, we are seeing regular and attractive discount
offers exclusive to the online channel (30% to 50%), which further attracts price-sensitive
consumers. This is particularly important in the light of the fact that Vietnam has a high number
of counterfeit products in apparel, thus sales of brand names are assisted by these discounts.
According to Ministry of Information and Communication, Vietnam has the 14th largest
number of internet users in the world, ranking sixth among the 35 countries and territories in
Asia, with over 64 million internet users, equivalent to 67% of the country’s population. With the
return to busy, out-of-home lifestyles, e-commerce will continue to grow in importance – also in
line with the livestreaming trend.

What next for apparel and footwear?
Apparel and footwear looks set to seeing ongoing positive growth over the forecast period,
albeit at a slowing rate compared to the rebound sales spikes seen in 2022 following the
pandemic slumps. This will be supported overall by the post-pandemic return to out-of-home
lifestyles and activities, alongside the ongoing rebound of travel and tourism. However, in the
short-term at least, inflationary pressures will remain which means that mass brands will perform
better than their luxury and premium counterparts. Counterfeit goods will also continue to pose a
challenge, as to date, the government in Vietnam does not have any efficient measures in place
to counteract this “black market”. Fast fashion brands will continue to gain a foothold in the
country, while global names such as adidas and Nike will remain prominent in sportswear –
although this will be an exception for higher-priced brands in the overall landscape. Meanwhile,
local brands will continue to focus on improving their quality and designs, whilst maintaining a
balance of quality-to-cost in order to attract consumers and stimulate sales.

MARKET DATA
Table 1

Sales of Apparel and Footwear by Category: Volume 2017-2022

'000 units

Footwear
Apparel
Apparel and Footwear
Source:

2017

2018

2019

2020

2021

2022

105,207.6
404,622.9
509,830.6

112,626.3
424,717.6
537,344.0

119,948.8
452,127.3

572,076.0

108,947.1
423,751.3
532,698.3

87,936.2
346,720.9
434,657.1

98,780.4
390,863.8
489,644.2

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

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Note:

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Sportswear volume not researched

Table 2

Sales of Apparel and Footwear by Category: Value 2017-2022

VND billion

Sportswear
Footwear
Apparel
Apparel and Footwear
Source:

Table 3

2017

2018

2019

2020

2021

2022

7,070.4
38,325.3
58,376.2
96,701.5

7,913.2
42,876.4
64,318.2
107,194.5

8,863.0
47,175.1
70,697.0
117,872.0

8,273.4
43,900.3
66,910.9
110,811.2

6,844.0
36,679.4
56,019.8
92,699.2

7,994.5
42,732.7
66,280.5
109,013.2

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Sales of Apparel and Footwear by Category: % Volume Growth 2017-2022

% volume growth

Footwear
Apparel
Apparel and Footwear
Source:
Note:

Table 4

2021/22

2017-22 CAGR

2017/22 Total

12.3
12.7
12.7

-1.3
-0.7
-0.8

-6.1
-3.4
-4.0

Euromonitor International from official statistics, trade associations, trade press, company research,

store checks, trade interviews, trade sources
Sportswear volume not researched

Sales of Apparel and Footwear by Category: % Value Growth 2017-2022

% current value growth

Sportswear
Footwear
Apparel
Apparel and Footwear

2021/22

2017-22 CAGR

2017/22 Total

16.8
16.5
18.3
17.6

2.5
2.2
2.6
2.4

13.1
11.5

13.5
12.7

Source:

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5

NBO Company Shares of Apparel and Footwear: % Value 2018-2022

% retail value rsp
Company
Inditex, Industria de
Diseño Textil SA
Uniqlo Vietnam Co Ltd
adidas Vietnam Co Ltd
H&M Hennes & Mauritz
Vietnam Co Ltd
Au Chau Fashion &
Cosmetic Co Ltd (ACFC)
Binh Tien Dong Nai Imex
Corp Pte Ltd
An Phuoc Garment Co Ltd

© Euromonitor International

2018

2019

2020

2021

2022

1.9

1.7

1.4

1.3

1.4

1.2
0.7

1.3
1.1

0.6
1.2
1.2

1.4
1.4

1.2

1.3
1.3
1.2

1.2

1.2

1.1

1.1

1.1

0.8

1.0

1.0

1.0

1.0

1.2

1.2

1.0

1.0

1.0

4


APPAREL AND FOOTWEAR IN VIETNAM

Hoang Duong Trading &
Service Co Ltd
Viet Tien Garment JSC
Kowil Fashion Vietnam JSC
Triumph International
(Vietnam) Ltd
Viet Fashion Co Ltd
Blue Exchange Co Ltd
Gumac Vietnam Co Ltd
Maison JSC
Du Kim JSC
Quadrille & Vera
International Ltd
Gior Fashion Co Ltd
Juno Vietnam Co Ltd
388 JSC
Universe General
Trading Service JSC
Hoang Phuc

International Co Ltd
Others
Total
Source:

Table 6

Passport

0.9

1.0

0.9

0.9

0.9

0.9
0.6
0.5

0.8
0.6
0.5

0.7
0.5
0.5

0.7
0.6
0.5

0.7
0.6
0.5

0.5
0.5
0.2
0.3
0.4
0.2

0.5
0.5
0.3
0.4
0.4
0.2

0.5
0.4
0.4
0.4
0.4
0.2

0.4
0.4
0.4
0.4
0.3
0.2

0.4
0.4
0.4
0.4
0.3
0.2

0.2
0.2
0.2
0.1

0.2
0.2
0.2
0.1

0.2
0.2
0.2
0.1

0.2

0.2
0.2
0.1

0.2
0.2
0.2
0.1

0.1

0.1

0.1

0.1

0.1

87.3
100.0

86.7
100.0

86.9
100.0

86.1
100.0

86.2
100.0

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

LBN Brand Shares of Apparel and Footwear: % Value 2019-2022

% retail value rsp
Brand (GBO)
Uniqlo (Fast
Retailing Co Ltd)
adidas (adidas Group)
H&M (H&M Hennes &
Mauritz AB)
Zara
Biti's
Canifa
Viet Tien (Vietnam
National Textile &
Garment Corp
(VINATEX))
An Phuoc
Pierre Cardin
(Pierre Cardin SA)
Triumph (Triumph
International AG)
Ninomaxx
Blue Exchange

Gumac
Owen
Ivy Moda
Nike (Nike Inc)
Gap (Gap Inc, The)

© Euromonitor International

Company (NBO)

2019

2020

2021

2022

-

0.6

1.4

1.3

adidas Vietnam Co Ltd
H&M Hennes & Mauritz
Vietnam Co Ltd
Inditex, Industria de

Diseño Textil SA
Binh Tien Dong Nai Imex
Corp Pte Ltd
Hoang Duong Trading &
Service Co Ltd
Viet Tien Garment JSC

1.2
1.1

1.2
1.2

1.4
1.2

1.3
1.2

1.3

1.1

1.0

1.2

1.0

1.0

1.0

1.0

1.0

0.9

0.9

0.9

0.8

0.7

0.7

0.7

An Phuoc Garment Co Ltd
An Phuoc Garment Co Ltd

0.6
0.6

0.5
0.5

0.5
0.4

0.5
0.5

Triumph International
(Vietnam) Ltd
Viet Fashion Co Ltd
Blue Exchange Co Ltd
Gumac Vietnam Co Ltd
Kowil Fashion Vietnam JSC
Du Kim JSC
Au Chau Fashion &
Cosmetic Co Ltd (ACFC)
Au Chau Fashion &
Cosmetic Co Ltd (ACFC)

0.5

0.5

0.5

0.5

0.5
0.5
0.3
0.4

0.4
0.3

0.4
0.4
0.4
0.4
0.4
0.3

0.4
0.4
0.4
0.4
0.3
0.3

0.4
0.4
0.4
0.4
0.3
0.3

0.2

0.2

0.2

0.2

Uniqlo Vietnam Co Ltd

5


APPAREL AND FOOTWEAR IN VIETNAM

Vera
Levi's (Levi
Strauss & Co)
Winny
Giordano (Giordano
International Ltd)
Juno
G2000 (G2000
(Apparel) Ltd)
Converse (Nike Inc)
Tommy Hilfiger (PVH
Corp)
Pull & Bear
Charles & Keith
(Charles & Keith
(S) Pte Ltd)
Massimo Dutti
Kappa (BasicNet SpA)
Reebok (adidas Group)
Others
Total

Passport

Quadrille & Vera
International Ltd
Au Chau Fashion &
Cosmetic Co Ltd (ACFC)
Kowil Fashion Vietnam JSC
Gior Fashion Co Ltd

0.2

0.2

0.2

0.2

0.2

0.2

0.2

0.2

0.2
0.2

0.2

0.2

0.2
0.2

0.2
0.2

Juno Vietnam Co Ltd
388 JSC

0.2
0.2

0.2
0.2

0.2
0.2

0.2
0.2

Au Chau Fashion &
Cosmetic Co Ltd (ACFC)
Au Chau Fashion &
Cosmetic Co Ltd (ACFC)
Inditex, Industria de
Diseño Textil SA
Maison JSC

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

Inditex, Industria de
Diseño Textil SA
Hoang Phuc
International Co Ltd
Universe General
Trading Service JSC
Others
Total

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

-

87.4
100.0

87.6
100.0

86.7
100.0

86.8
100.0

Source:

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 7

Distribution of Apparel and Footwear by Format: % Value 2017-2022

% retail value rsp

Retail Channels

- Retail Offline
-- Grocery Retailers
--- Convenience Retail
--- Supermarkets
--- Hypermarkets
--- Discounters
--- Warehouse Clubs
--- Food/drink/tobacco
specialists
--- Small Local Grocers
-- Non-Grocery Retailers
--- General Merchandise
Stores
---- Department Stores
---- Variety Stores
--- Apparel and
Footwear Specialists
--- Appliances and
Electronics Specialists
--- Home Products
Specialists
--- Health and Beauty
Specialists

© Euromonitor International

2017

2018

2019

2020

2021

2022

100.0
93.9
19.8
3.8
2.3
-

100.0
93.1
19.7
3.9
2.3
-

100.0
92.2
20.0
4.0
2.3
-

100.0

89.2
18.4
3.6
2.1
-

100.0
84.8
18.1
3.6
1.9
-

100.0
84.0
18.2
3.6
2.0
-

13.7
74.1
3.8

13.5
73.3
4.0

13.6
72.2

4.1

12.7
70.8
3.6

12.6
66.7
3.5

12.7
65.8
3.7

3.7
0.0
65.4

3.9
0.0
64.6

4.0
0.0
63.0

3.6
0.0
62.2

3.4
0.0
59.0

3.6
0.0
58.0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6


APPAREL AND FOOTWEAR IN VIETNAM

--- Leisure and
Personal Goods
Specialists
---- Bags and Luggage
Specialists
---- Jewellery and
Watch Specialists
---- Sports goods stores
---- Traditional Toys
and Games Stores
--- Other Non-Grocery

Retailers
-- Vending
-- Direct Selling
- Retail E-Commerce
Total
Source:

Table 8

Passport

2.8

3.0

3.4

3.3

3.0

3.1

-

-

-

-

-

-

-

-

-

-

-

-

2.8
-

3.0
-

3.4
-

3.3
-

3.0

-

3.1
-

2.1

1.8

1.7

1.7

1.3

1.0

6.1
100.0

6.9
100.0

7.8
100.0

10.8
100.0

15.2

100.0

16.0
100.0

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Distribution of Apparel and Footwear by Format and Category: % Value 2022

% retail value rsp

Retail Channels
- Retail Offline
-- Grocery Retailers
--- Convenience Retail
--- Supermarkets
--- Hypermarkets
--- Discounters
--- Warehouse Clubs
--- Food/drink/tobacco specialists
--- Small Local Grocers
-- Non-Grocery Retailers
--- General Merchandise Stores
---- Department Stores
---- Variety Stores
--- Apparel and Footwear Specialists
--- Appliances and Electronics
Specialists
--- Home Products Specialists

--- Health and Beauty Specialists
--- Leisure and Personal Goods
Specialists
---- Bags and Luggage Specialists
---- Jewellery and Watch Specialists
---- Sports goods stores
---- Traditional Toys and Games Stores
--- Other Non-Grocery Retailers
-- Vending
-- Direct Selling
- Retail E-Commerce
Total
Source:
Key:

Apparel

Footwear

Sportswear

100.0
79.8
16.5
0.0
3.3
1.9
0.0
0.0
0.0

11.3
63.4
3.3
3.2
0.1
57.2
0.0

100.0
90.5
21.0
0.0
4.1
2.2
0.0
0.0
0.0
14.7
69.5
4.3
4.3
0.0
59.2
0.0

100.0
83.6
11.9
0.0
3.3

2.4
0.0
0.0
0.0
6.2
71.7
4.2
4.2
0.0
48.7
0.0

0.0
0.0
1.9

0.0
0.0
4.9

0.0
0.0
13.7

0.0
0.0
1.9
0.0
1.0
0.0

0.0
20.2
100.0

0.0
0.0
4.9
0.0
1.1
0.0
0.0
9.5
100.0

0.0
0.0
13.7
0.0
5.1
0.0
0.0
16.4
100.0

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
AP = apparel; FW = footwear; SW = Sportswear

© Euromonitor International

7


APPAREL AND FOOTWEAR IN VIETNAM

Table 9

Passport

Forecast Sales of Apparel and Footwear by Category: Volume 2022-2027

'000 units

Footwear
Apparel
Apparel and Footwear
Source:
Note:

2022

2023

2024

2025

2026

2027

98,780.4
390,863.8
489,644.2

107,231.4
419,605.7
526,837.0

114,449.1
442,429.2
556,878.3

120,754.7
460,701.5
581,456.1

126,367.7
476,059.6
602,427.3

131,506.4
488,941.7
620,448.1

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Sportswear volume not researched

Table 10

Forecast Sales of Apparel and Footwear by Category: Value 2022-2027

VND billion

Sportswear
Footwear
Apparel
Apparel and Footwear
Source:

Table 11
2027

2022

2023

2024

2025

2026

2027

7,994.5
42,732.7
66,280.5
109,013.2

8,660.6
46,476.5
71,684.4
118,160.8

9,275.9
49,660.2
76,057.5
125,717.7

9,798.9
52,431.4
79,503.3
131,934.7

10,267.5
54,902.2
82,391.2
137,293.3

10,675.0
57,140.8
84,874.8
142,015.6

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Forecast Sales of Apparel and Footwear by Category: % Volume Growth 2022-

% volume growth

Footwear
Apparel
Apparel and Footwear
Source:
Note:

Table 12
2027

2022/23

2022-27 CAGR

2022/27 Total

8.6
7.4
7.6

5.9
4.6
4.8

33.1
25.1
26.7

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Sportswear volume not researched

Forecast Sales of Apparel and Footwear by Category: % Value Growth 2022-

% constant value growth

Sportswear
Footwear
Apparel
Apparel and Footwear
Source:

2022/2023

2022-27 CAGR

2022/27 Total

8.3
8.8
8.2
8.4

6.0
6.0
5.1
5.4

33.5
33.7
28.1
30.3

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

© Euromonitor International

8


APPAREL AND FOOTWEAR IN VIETNAM

Passport

DISCLAIMER
Forecast closing date: 12 December 2022
Report closing date: 9 January 2023
Analysis and data in this report give full consideration to consumer behaviour and market
performance in 2022 and beyond as of the dates above. For the very latest insight on this
industry and consumer behaviour, at both global and national level, readers can access
strategic analysis and updates on www.euromonitor.com and via the Passport system, where
new content is being added on a systematic basis.

SOURCES
Sources used during research include the following:
Summary 1

Research Sources

Official Sources

Business Studies & Assistance Center
General Statistics Office
Ministry of Industry & Trade
Vietnam Chamber of Commerce & Industry

Trade Associations

Dai Su Hang Viet
giaydaviet.net
Vietnam Leather & Footwear Association
Vietnam Textile & Apparel Association

Trade Press

Bao Ha Tinh
Bao Moi
baocongthuong.com
Business Review, The
Công Ly News
Doanh Nhan Sai Gon
Dung Hang Viet
Entrepreneur Forum
Ha Giang News Online
Sai Gon Giai Phong Online
Sai Gon News
Saigon Tiep Thi Online

Saigon Times Online
Textile & Garment News
Thanh Nien Online
Thao So, The

© Euromonitor International

9


APPAREL AND FOOTWEAR IN VIETNAM

Passport

Tin Moi
Tin Tuc Online
Tuoi Tre Online
Vietnam Business Forum
Vietnam Business News
Vietnam Economy Times
Vietnam Investment Review
Vinacorp.vn
VTC News
Source:

Euromonitor International

© Euromonitor International

10

APPAREL AND FOOTWEAR IN VIETNAM

CHILDRENSWEAR IN VIETNAM CATEGORY ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales rise by 20% in current terms in 2022 to VND8.8 trillion
▪ Boys’ apparel is the best performing category in 2022, with retail value sales rising by 25% in
current terms to VND2.7 trillion
▪ Uniqlo Vietnam Co Ltd is the leading player in 2022, with a retail value share of 2%
▪ Retail sales are set to grow at a current value CAGR of 10% (2022 constant value CAGR of
6%) over the forecast period to VND14.5 trillion

2022 DEVELOPMENTS
Childrenswear rebounds strongly, as parents now more confident to
take their children out again
In contrast to 2021, childrenswear is seeing robust growth in 2022, supported by the growing
confidence in parents regarding their children and the risk of COVID-19. During the pandemic
era, childrenswear value and volume sales plummeted as children were required to stay at
home, by government diktat, and schools were closed. However, the recovery from COVID-19,
alongside the vaccination programme, have led parents to be happier to take their children for
outdoor activities, sports, travelling, and social activities again, which has helped to boost
demand for childrenswear. Additionally, lifecycles of clothing for children as shorter due to the
fact that children grow, thus it is essential to make new purchases – more so than for adults.
That said, it is noted that pre-pandemic levels have not yet been reached, which could be
explained by the rapidly aging population which is a factor contributing to slow down growth
within childrenswear overall. According to The General Department of Population and Family
Planning, while there were only five provinces with a low birth rate (below 2.1 children per
woman) in Vietnam ten years ago, there were 21 such provinces by the end of 2019. The
department predicts that the birth rate could continue to decrease in the future due to busier

lifestyles and higher living costs. Therefore, baby and toddler wear is predicted to see slower
value and volume growth due to the aging population over the coming years.

Parents are paying more attention to the characteristics of the materials
in the clothing they select for their children
Due to rising living standards, Vietnamese consumers are paying more attention to the quality
and characteristics of the product materials in the clothing they select for their children. In this
context, quality is often more important than price. Environmentally-friendly materials are
particularly popular here, such as bamboo fibre, which is also antiwrinkle, non-shrinking, kind to
skin, and helps to cool body temperature. Efficient sweat absorption materials, such as cotton or
linen, are also popular during the hot weather season.
Western fashions are also attracting attention, and players capitalise on trends by expanding
their product ranges. For example, Vietnam Junior Fashion Week, organised annually by model
Xuan Lan, is one noteworthy example of the development of childrenswear in Vietnam. Fashion

© Euromonitor International

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11


APPAREL AND FOOTWEAR IN VIETNAM

week gives designers the chance to showcase various new childrenswear collections, allowing
Vietnamese consumers to search for suitable childrenswear. In addition to product innovation,
players also focus on reaching untapped markets such as suburban areas and small cities
through different distribution channels.

Growth of e-commerce helps to boost sales of childrenswear

Consumers became accustomed to online shopping during the pandemic, and many parents
prefer to purchase childrenswear through this channel, thanks to multiple benefits. e-commerce
retailers such as Shopee, Lazada and Tiki are popular, as are social media platforms such as
Facebook – all of which offer convenience and regular discount campaigns. Brands such as
Gap (Au Chau Fashion & Cosmetic Co Ltd (ACFC)) and Canifa (Hoang Duong Trading &
Service Co Ltd) are noted as being particularly active in boosting sales through online channels,
supported by strong marketing activities. The global Gap brand has received a warm welcome
from Vietnamese parents due to its fashionable designs, following the strong penetration of
Western culture among younger generations. The key purchasers of Gap are affluent
consumers residing in cities such as Ho Chi Minh and Hanoi, however, the brand also offers
numerous discounting campaigns as an effective way to attract parents, with most Vietnamese
consumers remaining highly price sensitive.

PROSPECTS AND OPPORTUNITIES
Ongoing positive growth expected, with boys’ apparel slightly
outperforming apparel for girls
Childrenswear will maintain positive growth over the forecast period, albeit both value and
volume will slow down from the sales spikes seen in 2022 following the pandemic slump.
Ongoing demand will come from an interest in outdoor activities along with the rising number of
people starting to travel again. Boys’ apparel will show slightly stronger value and volume
growth than girls’ apparel, which is attributed to the gender ratio between male and female newborns. According to a government report in 2021, this ratio in Vietnam stands at 112 boys per
100 girls, which reflects the growth percentages in apparel expected.

Online shopping trends set to continue over the forecast period,
although counterfeit goods will suppress potential sales
It should be noted that many consumers seek the best quality at the most affordable prices
when it comes to choosing clothing for their children, due to the fact that children’s apparel has
shorter lifecycles than clothing for adults due to the very fact that children grow. E-commerce
offers a wide range of options, across a wide range of price points, thus the channel is well
suited to the category.

Online shopping trends – and livestreaming – will continue to grow over the forecast period.
Indeed, it is noted that the government will support and assist businesses in their digital
transformation processes, as well as enhance infrastructure systems and e-commerce support
services. These efforts are said to have been inspired by the event of the pandemic and the
enforced move to e-commerce. Furthermore, we are seeing regular and attractive discount
offers exclusive to the online channel (30% to 50%), which further attracts price-sensitive
consumers. This is particularly important in the light of the fact that Vietnam has a high number
of counterfeit products in apparel, thus sales of brand names are assisted by these discounts.
However, as there are no discernible efforts from the government to control the issue of

© Euromonitor International

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12


APPAREL AND FOOTWEAR IN VIETNAM

Passport

counterfeit goods, these “black market” sales will continue to suppress the potential of the
category over the forecast period.

Fiercer competition expected in A highly fragmented category
Childrenswear in Vietnam is a highly fragmented category, with only very small single-digit
and sub-decimal shares held by named brands and a close-to-majority held by unbranded
“others”. This is partly due to the huge popularity and availability of cheap unbranded and
counterfeit products from neighbouring countries, especially China, Thailand, and Cambodia.
These products are sold across Vietnam, including via traditional markets, street vendors, local

small stores, and social media platforms such as Facebook, and offer diversified designs and
materials. In general, many local consumers tend to choose unbranded options as they can
access products easily and have a greater choice. The presence of branded products, including
from both international and local players, thus remains insignificant.
It is therefore expected that childrenswear will continue to be dominated by small local brands
and unbranded options due to their affordable pricing, wide distribution networks, and diversified
designs. However, as the presence of fast fashion brands such as Uniqlo (Uniqlo Vietnam Co
Ltd) and H&M (H&M Hennes & Mauritz Vietnam Co Ltd) has increased strongly in the review
period, it is expected that competition will intensify in this area over the forecast period. For
example, in the short-term, it is expected that local brands such as Canifa, Chaang or Rabity will
continue to receive attention from consumers, due to their low pricing and high product quality,
particularly in an ongoing inflationary environment.

CATEGORY DATA
Table 13

Sales of Childrenswear by Category: Volume 2017-2022

'000 units

- Girls' Apparel
- Boys' Apparel
- Baby and Toddler Wear
Childrenswear
Source:

2017

2018

2019

2020

2021

2022

21,164.5
14,341.6
13,965.6
49,471.7

22,180.4
14,958.3
14,576.2
51,714.9

23,067.6
15,631.4
15,115.5
53,814.6

20,299.5
13,443.0
15,221.4
48,963.9

15,372.4
9,788.6

12,941.8
38,102.9

18,146.0
11,742.6
13,413.8
43,302.3

Euromonitor International from official statistics, trade associations, trade press, company research,
store

Table 14

Sales of Childrenswear by Category: Value 2017-2022

VND billion

- Girls' Apparel
- Boys' Apparel
- Baby and Toddler Wear
Childrenswear
Source:

Table 15

2017

2018

2019

2020

2021

2022

4,088.6
2,658.8
1,764.7
8,512.1

4,456.6
2,964.6
1,916.5
9,337.7

4,785.4
3,262.0
2,044.1
10,091.5

4,306.8
2,870.6
2,125.9
9,303.3

3,359.3
2,152.9
1,870.8

7,383.1

4,132.0
2,691.1
2,020.5
8,843.6

Euromonitor International from official statistics, trade associations, trade press, company research,
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Sales of Childrenswear by Category: % Volume Growth 2017-2022

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APPAREL AND FOOTWEAR IN VIETNAM

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% volume growth

- Girls' Apparel
- Boys' Apparel
- Baby and Toddler Wear
Childrenswear
Source:

Table 16

2021/22

2017-22 CAGR

2017/22 Total

18.0
20.0
3.6
13.6

-3.0
-3.9
-0.8
-2.6

-14.3
-18.1
-4.0
-12.5

Euromonitor International from official statistics, trade associations, trade press, company research,
store

Sales of Childrenswear by Category: % Value Growth 2017-2022

% current value growth

- Girls' Apparel

- Boys' Apparel
- Baby and Toddler Wear
Childrenswear
Source:

Table 17

2017/22 Total

23.0
25.0
8.0
19.8

0.2
0.2
2.7
0.8

1.1
1.2
14.5
3.9

NBO Company Shares of Childrenswear: % Value 2018-2022

Uniqlo Vietnam Co Ltd
Hoang Duong Trading &
Service Co Ltd
Au Chau Fashion &

Cosmetic Co Ltd (ACFC)
H&M Hennes & Mauritz
Vietnam Co Ltd
Inditex, Industria de
Diseño Textil SA
Others
Total

Table 18

2017-22 CAGR

Euromonitor International from official statistics, trade associations, trade press, company research,
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% retail value rsp
Company

Source:

2021/22

2018

2019

2020

2021

2022

1.4

1.6

0.7
1.4

1.9
1.5

1.8
1.5

0.8

0.8

0.7

0.8

0.8

0.3

0.4

0.5

0.5

0.5

0.2

0.2

0.1

0.1

0.1

97.3
100.0

97.0
100.0

96.5
100.0

95.1
100.0

95.3
100.0

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

LBN Brand Shares of Childrenswear: % Value 2019-2022

% retail value rsp
Brand (GBO)
Uniqlo (Fast
Retailing Co Ltd)
Canifa
Gap (Gap Inc, The)
H&M (H&M Hennes &
Mauritz AB)
Zara Kids

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Company (NBO)
Uniqlo Vietnam Co Ltd
Hoang Duong Trading &
Service Co Ltd
Au Chau Fashion &
Cosmetic Co Ltd (ACFC)
H&M Hennes & Mauritz
Vietnam Co Ltd
Inditex, Industria de

2019

2020

2021

2022

-

0.7

1.9

1.8

1.6

1.4

1.5

1.5

0.6

0.6

0.7

0.7

0.4

0.5

0.5

0.5

0.2

0.1

0.1

0.1

14


APPAREL AND FOOTWEAR IN VIETNAM

Diseño Textil SA
Others
Total

Others
Total
Source:

Passport

97.2
100.0

96.6
100.0

95.2
100.0

95.4
100.0

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 19

Forecast Sales of Childrenswear by Category: Volume 2022-2027

'000 units

- Girls' Apparel
- Boys' Apparel
- Baby and Toddler Wear
Childrenswear
Source:

2022

2023

2024

2025

2026

2027

18,146.0
11,742.6
13,413.8
43,302.3

20,252.7
13,331.9
13,785.9
47,370.5

21,835.4
14,630.4
14,146.4
50,612.1

23,108.5
15,731.6
14,450.1
53,290.2

23,971.7

16,545.9
14,724.4
55,242.0

24,759.6
17,328.2
14,977.4
57,065.3

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 20

Forecast Sales of Childrenswear by Category: Value 2022-2027

VND billion

- Girls' Apparel
- Boys' Apparel
- Baby and Toddler Wear
Childrenswear
Source:

Table 21

2022

2023

2024

2025

2026

2027

4,132.0
2,691.1
2,020.5
8,843.6

4,621.9
3,062.1
2,081.1
9,765.0

4,992.0
3,366.4
2,139.4
10,497.7

5,289.4
3,625.2
2,188.6
11,103.2

5,492.5
3,816.7

2,232.3
11,541.5

5,677.6
4,000.3
2,272.5
11,950.4

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Forecast Sales of Childrenswear by Category: % Volume Growth 2022-2027

% volume growth

- Girls' Apparel
- Boys' Apparel
- Baby and Toddler Wear
Childrenswear
Source:

Table 22

2022/23

2022-27 CAGR

2022/27 Total

11.6

13.5
2.8
9.4

6.4
8.1
2.2
5.7

36.4
47.6
11.7
31.8

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Forecast Sales of Childrenswear by Category: % Value Growth 2022-2027

% constant value growth

- Girls' Apparel
- Boys' Apparel
- Baby and Toddler Wear
Childrenswear
Source:

2022/2023

2022-27 CAGR

2022/27 Total

11.9
13.8
3.0
10.4

6.6
8.3
2.4
6.2

37.4
48.6
12.5
35.1

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

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APPAREL AND FOOTWEAR IN VIETNAM

APPAREL ACCESSORIES IN VIETNAM
- CATEGORY ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales grow by 12% in current terms in 2022 to VND719 billion
▪ Belts is the best performing category in 2022, with retail value sales increasing by 28% in
current terms to VND329 billion
▪ H&M Hennes & Mauritz Vietnam Co Ltd is the leading player in 2022, with a retail value share
of 14%
▪ Retail sales are set to increase at a current value CAGR of 5% (2022 constant value CAGR of
1%) over the forecast period to VND925 billion

2022 DEVELOPMENTS
Post-pandemic landscape heralds polarised trends for apparel
accessories
The post-pandemic landscape heralds polarised trends for apparel accessories. On the one
hand, the return to out-of-home activities boosts sales for accessories such as belts, hats,
gloves, and the like. On the other hand, the fact that consumers no longer have to wear face
coverings means that a major part of sales in the category for the past two years has been
decimated.
Indeed, in 2022, other apparel accessories (under which face masks falls) records significant
negative growth rates in both sales value and volume. Moreover, as single use disposable face
masks are much cheaper than fabric ones. as they are produced in Vietnam, the majority of
consumers who do still opt to wear face coverings tend to prefer the cheaper, surgical-style

masks, which can be easily purchased through a variety of channels in the country.

Demand for more sophisticated accessories boosted by rising living
standards
Apparel accessories remain popular in Vietnam, despite tough competition from unbranded
and counterfeit products. This is evidenced by the top two brands, H&M (H&M Hennes &
Mauritz Vietnam Co Ltd) and Zara (Inditex, Industria de Diseño Textil SA) both holding doubledigit shares, whilst the remainder of the category remains fragmented as thus seen across other
categories in apparel in Vietnam. In this sense, apparel accessories stands out in a similar light
to sportswear (in which adidas holds double-digit brand shares).
This scenario can be partly attributed to rising living standards in the country, along with the
growing influence of social media and globalisation. These factors are greatly enhancing local
consumers’ standards, especially when it comes to apparel accessories, with interest in Korean
and Western fashion styles continuing to rise. A growing amount of money is also being spent
on these products through reliable channels, especially in big cities such as Hanoi and Ho Chi
Minh. Among retailers, modern grocery channels such as supermarkets, hypermarkets and
department stores are particularly renowned for quality and branded products.

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APPAREL AND FOOTWEAR IN VIETNAM

Unbranded and counterfeit products will continue to dominate overall
Inclusive and regardless of the above point, as seen across other categories, apparel
accessories in Vietnam continues to be mostly dominated by unbranded and counterfeit
products which have wide distribution networks and cheap price points. Such products are sold

everywhere across Vietnam, including via traditional markets, street vendors, local small stores,
and through internet networks such as Facebook. To date, there is still no sustainable regulation
done by government in controlling those goods. Most of these goods are imported from nearby
countries such as China and Thailand, or made by small local companies or individuals. Overall,
as the vast majority of Vietnamese consumers are highly price sensitive, it will be difficult for
them to resist the temptation of counterfeit, unbranded and unauthorised products for the
foreseeable future, thus limiting the share of branded players.
However, there is still a strong increase in demand in branded apparel accessories in big
cities, due to higher awareness and stronger spending power.
.

PROSPECTS AND OPPORTUNITIES
Apparel accessories will maintain positive growth, in line with out-ofhome lifestyles
Apparel accessories will maintain positive growth over the forecast period, in line with out-ofhome lifestyles. For example, ties is likely to be supported by the rise in white-collar workers in
offices, whereas hats/caps will be supported by fashion trends seen in both male and female
consumers. This will also be supported by the resumption of travel, both for Vietnamese
consumers and foreign consumers visiting the country. Fashion-driven trends will mostly be
seen in younger consumers who live in the big cities and have stronger spending power which
enables them to invest in non-essential purchases.
Furthermore, the opening of the Vietnamese market and Vietnam’s joining of various
international trade agreements, such as the Trans-Pacific Partnership and APEC, is likely to
attract a growing number of multinational players. Globalisation has also boosted cultural
penetration from the West, resulting in an increase in the number of highly reputable brands
such as Zara and H&M, due to their product quality and attractive designs.

Other accessories expected to remain in negative figures due to
negation of fashion face masks
On the other hand, other accessories is expected to remain in negative figures over the
forecast period due to the negation of face coverings. Indeed, the era of the face mask created
an unusual spike in sales in this subcategory, with the 2020 seeing astounding triple-digit growth

(close to quadruple-digits in fact), which clearly could not be sustained long-term. Even if some
vulnerable consumers do continue to wear face coverings for their own reasons, face masks
have lost their status as a fashion item and consumers have returned to the cheaper, singleuse, surgical-style options which are widely available across the country.

E-commerce channel set to remain popular, thanks to wide ranges and
low prices
Apparel accessories is also set to benefit from the cross-category trend regarding the ongoing
growth of e-commerce. Online shopping trends – and livestreaming – will continue to grow over
the forecast period. Indeed, it is noted that the government will support and assist businesses in

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