×
319
Fashion Jobs
MAJE
Supervisor - Selfridges, London
Permanent · LONDON
BURBERRY
CRM Manager
Permanent · LONDON
TOPSHOP TOPMAN
CRM Coordinator
Permanent · London
TOPSHOP TOPMAN
Senior Marketing Manager
Permanent · London
ARCADIA GROUP
SEO Manager
Permanent · LONDON
ARCADIA GROUP
Digital Logistics Manager
Permanent · London
NEXT RETAIL LTD
Buyer - Womenswear (12 Month Contract)
Permanent · ENDERBY
GUCCI LIMITED
Gucci Visual Merchandising Manager
Permanent · LONDON
NEXT RETAIL LTD
Warehouse Operative (Part Time Afternoons - 14.00 - 20.00)
Permanent · PONTEFRACT
TOSHI TECHNOLOGIES LTD
London Experience And Operations Manager
Permanent · LONDON
TJX CORPORATE
Information Technology Graduate (2021)
Permanent · WATFORD
SHISEIDO
UK Supply Planner
Permanent · LONDON
NEXT RETAIL LTD
Loss Prevention Officer - Preston 721
Permanent · WALTON-LE-DALE
DESIGNER EXCHANGE
Digital Marketing Manager
Permanent · LONDON
SHISEIDO
Bareminerals Account Manager - Hoopers, Wilmslow (Maternity Cover) (37.5)
Permanent · Manchester
SHISEIDO
Bareminerals Account Manager - Debenhams, Winchester (Maternity Cover)
Permanent · Hampshire
SHISEIDO
Account Manager - Debenhams
Permanent · BURY SAINT EDMUNDS
SHISEIDO
Shisiedo Group Fragrance Account Manager - John Lewis, Brent Cross (22.5)
Permanent · London
STUDIO MINTI
Social Media Internship
Internship · LONDON
REISS
Store Manager
Permanent · BRISTOL
REISS
Store Manager
Permanent · MANCHESTER
LONDON ORGANIC PR
Social Media Intern - Facebook
Internship · LONDON

New COVID-19 wave to threaten Vietnamese garment sector

By
Fibre2Fashion
Published
Aug 5, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

A fresh wave of COVID-19 may worsen the situation of Vietnam’s textile and footwear industries, still reeling from the impact of the first. According to the ministry of industry and trade, apparel production in July rose by 13.2 per cent over June but was nearly 5 per cent down year on year. Exports of textiles and footwear are down by 21 per cent and 8 per cent respectively.



TNG Investment and Trading JSC, which manufactures clothing and footwear, reported first half revenues and net profit down by 10 per cent and 29 per cent at VND1.84 trillion ($79.3 million) and VND66 billion ($2.84 million) respectively.

The Vietnam National Textile and Garment Group (Vinatex) reported a 15 per cent fall in revenues and 25 per cent decrease in profits despite partially switching to manufacturing face masks and protective clothing and retaining all its workers.

The situation was better than predicted, according to Vinatex's deputy general director, Cao Huu Hieu, who said the company had anticipated declines of 30 per cent in revenues and 50 per cent in profits. Song Hong Garment JSC’s profit had fallen by 44 per cent to just VND122 billion ($5.26 million), according to a report in a Vietnamese newspaper.

While the switch to making face masks and protective clothing was considered a lifesaver for many garment firms in the first half of the year, a global oversupply of these products has caused prices to plummet. Firms such as TNG have even stopped manufacturing masks and started focusing on high-value products.

With many countries, including Vietnam, being hit by a new wave of Covid-19, getting orders has also become a difficult task for the majority of garment firms. Many have not received a single order for high-value products in the second half of the year, according to the ministry.

Another challenge facing the garment industry is the fact that consumer behaviours have changed dramatically due to the pandemic. The top priorities for consumers now are medicines, food and savings.

Copyright © 2020 Fibre2Fashion. All rights reserved.