Menswear in Vietnam

MENSWEAR IN VIETNAM
Euromonitor International
February 2016
MENSW EAR IN VIETNAM Passport I
LIST OF CONTENTS AND TABLES

Menswear in Vietnam - Category analysis ................................................................................... 1
Headlines ..................................................................................................................................... 1
Trends .......................................................................................................................................... 1
Competitive Landscape ................................................................................................................ 2
Prospects ..................................................................................................................................... 3
Category Data .............................................................................................................................. 4
Table 1 Sales of Menswear: Volume 2010-2015....................................................... 4
Table 2 Sales of Menswear: Value 2010-2015.......................................................... 4
Table 3 Sales of Menswear: % Volume Growth 2010-2015 ...................................... 5
Table 4 Sales of Menswear: % Value Growth 2010-2015 ......................................... 5
Table 5 NBO Company Shares of Menswear: % Value 2011-2015 .......................... 6
Table 6 LBN Brand Shares of Menswear: % Value 2012-2015................................. 6
Table 7 NBO Company Shares of Men’s Nightwear: % Value 2011-2015 ................ 7
Table 8 LBN Brand Shares of Men’s Nightwear: % Value 2012-2015 ...................... 7
Table 9 NBO Company Shares of Men’s Outerwear: % Value 2011-2015 ............... 7
Table 10 LBN Brand Shares of Men’s Outerwear: % Value 2012-2015 ...................... 8
Table 11 NBO Company Shares of Men’s Swimwear: % Value 2011-2015 ............... 9
Table 12 LBN Brand Shares of Men’s Swimwear: % Value 2012-2015 ...................... 9
Table 13 NBO Company Shares of Men’s Underwear: % Value 2011-2015 .............. 9
Table 14 LBN Brand Shares of Men’s Underwear: % Value 2012-2015 ..................... 9
Table 15 Forecast Sales of Menswear: Volume 2015-2020 ...................................... 10
Table 16 Forecast Sales of Menswear: Value 2015-2020 ......................................... 10
Table 17 Forecast Sales of Menswear: % Volume Growth 2015-2020 ..................... 11
Table 18 Forecast Sales of Menswear: % Value Growth 2015-2020 ........................ 11
Menswear in Vietnam - Company Profiles.................................................................................. 13
Adidas Vietnam Co Ltd in Apparel and Footwear (vietnam) ....................................................... 13
Strategic Direction .................................................................................................................. 13
Key Facts ................................................................................................................................ 13
Summary 1 adidas Vietnam Co Ltd: Key Facts ............................................................. 13
Retail Operations .................................................................................................................... 13
Summary 2 adidas Vietnam Co: Retail Operational Indicators ...................................... 13
Internet Strategy ..................................................................................................................... 13
Competitive Positioning .......................................................................................................... 14
Summary 3 adidas Vietnam Co: Competitive Position 2015 ......................................... 14
Viet Tien Garment Jsc in Apparel and Footwear (vietnam) ........................................................ 15
Strategic Direction .................................................................................................................. 15
Key Facts ................................................................................................................................ 15
Summary 4 Viet Tien Garment JSC: Key Facts ............................................................ 15
Summary 5 Viet Tien Garment JSC: Operational Indicators ......................................... 15
Retail Operations .................................................................................................................... 15
Summary 6 Viet Tien Garment JSC: Retail Operational Indicators ............................... 15
Internet Strategy ..................................................................................................................... 16
Competitive Positioning .......................................................................................................... 16
Summary 7 Viet Tien Garment JSC: Competitive Position 2015 ................................... 16
© Euromonitor International
MENSW EAR IN VIETNAM Passport II
Apparel and Footwear in Vietnam - Industry Overview .............................................................. 17

Executive Summary ................................................................................................................... 17
Increased Demand for Appeal and Footwear ......................................................................... 17
Low-priced Products From Thailand Enter Vietnam ............................................................... 17
Domestic Players Struggle To Compete With International Brands and Focus on Mid-priced
Products.................................................................................................................................. 17
Dynamic Competition Between Domestic and International Brands ....................................... 17
Trans-pacific Partnership: New Threats and Opportunities for Appeal and Footwear ............ 17
Key Trends and Developments .................................................................................................. 18
To Boycott Chinese Products, A New Trend of Apparel From Thailand Is Rising Strongly .... 18
Online Shopping Growth Due To the Rise of Internet Retailing Stores................................... 18
Domestic Players Struggle To Compete With International Brands and Focus on Mid-priced
Products.................................................................................................................................. 19
Market Data ................................................................................................................................ 20
Table 19 Sales of Apparel and Footwear by Category: Volume 2010-2015.............. 20
Table 20 Sales of Apparel and Footwear by Category: Value 2010-2015................. 20
Table 21 Sales of Apparel and Footwear by Category: % Volume Growth 2010-
2015 ........................................................................................................... 20
Table 22 Sales of Apparel and Footwear by Category: % Value Growth 2010-
2015 ........................................................................................................... 21
Table 23 NBO Company Shares of Apparel and Footwear: % Value 2011-2015 ..... 21
Table 24 LBN Brand Shares of Apparel and Footwear: % Value 2012-2015 ............ 21
Table 25 Distribution of Apparel and Footwear by Format: % Value 2010-2015 ....... 22
Table 26 Distribution of Apparel and Footwear by Format and Category: %
Value 2015 ................................................................................................. 23
Table 27 Forecast Sales of Apparel and Footwear by Category: Volume 2015-
2020 ........................................................................................................... 24
Table 28 Forecast Sales of Apparel and Footwear by Category: Value 2015-
2020 ........................................................................................................... 24
Table 29 Forecast Sales of Apparel and Footwear by Category: % Volume
Growth 2015-2020 ..................................................................................... 24
Table 30 Forecast Sales of Apparel and Footwear by Category: % Value
Growth 2015-2020 ..................................................................................... 24
Definitions................................................................................................................................... 25
Sources ...................................................................................................................................... 25
Summary 8 Research Sources ...................................................................................... 25
MENSW EAR IN VIETNAM Passport 1
MENSWEAR IN VIETNAM -
CATEGORY ANALYSIS
HEADLINES
 Menswear records strong growth of 11% and reaches VND15,317 billion in 2015
 The awareness of a good personal appearance is increasing gradually, especially among the
young generation
 Men’s shirts register the fastest value growth of 13% in 2015
 Viet Tien Garment JSC continues to lead menswear with a value share of 9% in 2015
 Menswear is set to record a value CAGR of 5% at constant 2015 prices over the forecast
period
TRENDS
 The demand for menswear in the major cities has increased gradually due to an improvement
in the economy’s performance and the development of social networking. Moreover, with the
open policy of the government, more and more international companies has started investing
in Vietnam, which has led to a strong increase in the number of employed/business men. As a
result, menswear enjoyed a strong value growth rate of 11% in 2015. However, compared
with womenswear, the menswear category continued to be small at the end of the review
period.
 In general, the importance of personal appearance to male consumers depends on age and
geographic region. Due to the flood of Korean movies and western styles, most teenagers
tend to wear clothing to follow this fashion trend. Meanwhile, the awareness of a good
personal appearance was gradually increasing amongst young men because they believe it
affects their status in society and careers. To middle-aged men, besides businessmen or
politicians, most consumers just tend to wear casual clothes on special occasions and do not
care much about their appearance. In terms of geography, people living in the north tend to
take better care of their personal appearance than people living in the south and middle due
cultural differences.
 Due to the open policy of the government, there has been an increase in the number of jobs
related to business and diplomatic service industries, so the demand for wearing formalwear
has also improved slightly over the review period. Indeed, in 2015, men’s suits experienced a
healthy value growth rate of 10%. These customers are usually living in major cities like Ha
Noi or Ho Chi Minh, where many international companies are located. However, most
Vietnamese consumers still prefer a tailored suit due to its affordability and perfect fit.
Casualwear continued to dominate in Vietnam in 2015 due to the large proportion of the
population who looked for casualwear.
 In 2015, Oxford shirts, slim fit bermuda shorts and vests were the new fashion trends in
menswear due to Korean superstars and western culture. Among them, slim fit bermuda
shorts was a favourite choice for most young consumers because they are available in many
youthful colours and are comfortable in the hot weather in Vietnam. However, in general, most
men still like wearing normal shirts, jeans, trousers or jean jackets as they are long-lasting
and affordable.
 To men, shirts are necessary items of clothing because they are easy to wear and suitable for
various work and social occasions. Thanks to the brighter economy, men tended to spend
more on good-quality and branded products, such as Viet Tien Garment Co, An Phuoc
Garment Co Ltd or Pierre Cardin SA. Hence, men’s shirt witnessed the strongest value
growth rate of 13% in 2015.
 Super premium jeans also experienced significant value growth in 2015 due to the better
economic performance and slight increase in the number of wealthy people living in big cities
like Ho Chi Minh and Ha Noi.
 Most Vietnamese men still prefer to wear boxer shorts or shorts as their underwear due to
their comfort and low price. Thanks to an improvement in the awareness of wearing branded
products and the recovery of the economy, people tend to buy underwear in supermarkets or
department stores. Men’s underwear recorded healthy value growth of 10% in 2015.
 In the last two years, a new trend of pool parties organised in big cities like Ha Noi, Nha
Trang, Ho Chi Minh, Da Nang, has increased dramatically in Vietnam. Many young
consumers attend these parties to meet new people and they want to wear fashionable and
flattering swimwear. Hence, men’s swimwear continued to experience a good performance in
2015 with a strong value growth rate of 10%. On the other hand, sports swimwear became a
new fashion trend due to its good design and high quality.
 In 2015, the distribution of menswear shifted from open markets to
supermarkets/hypermarkets, department stores and from other middle-markets to high-end
store-based channels. In the past, wives and mothers were the main people who went
shopping for menswear products. However, due to the development of social networks, men
have started to go shopping by themselves. There are a number of apparel stores for
menswear, such as NguyenSa.
 Fashion Shop Co Ltd or Mazzola Fashion Shop Co Ltd have appeared in the market. Thanks
to an increase in living standards, the number of online retailers continued to improve strongly
in 2015. Among them, Zalora was the strongest online player specialising in sales of apparel.
However, most Vietnamese men prefer to go to an open environment with a fixed price where
they can freely choose and evaluate items of clothing.
 Over the review period, the number of obese people continued to increase slightly due to
modern lifestyles sand the appearance of fast food restaurants, however this obese
population was still small compared with the population of over 90 million in Vietnam.
Consequently, not many manufacturers want to offer bigger sizes, especially as demand for
plus sizes is usually met by Chinese and unbranded products.
COMPETITIVE LANDSCAPE
 In Vietnam, Viet Tien Garment Co (VTEC) has become a well-known brand to Vietnamese
consumers thanks to its long-establishment. In 2015, the company continued to be a leading
player in menswear with a healthy value share of 9%. Moreover, during the same period, the
company kept investing to improve its technology in Vietnam and focused on expanding its
distribution to respond to the high demand of wearing casual clothes from major cities like Ho
Chi Minh and Ha Noi. Viet Tien also focused on creating discount events to attract and reach
more customers like students. For example, Viet Tien created the campaign “Viet Tien –
Beside and Support Students” with a 40% discount for any student buying clothes in the first
seven days each month in 2015.
 Giordano International Ltd experienced a great performance with the strongest value growth
rate among branded companies in 2015. In the last two years, with beautiful designs and high
quality materials, the company has become a favourite brand amongst those living in big
cities. Besides, during the review period, a lot of promotional events of the company, such as
buy-two-get-one or 30% discount, received a warm welcome from consumers. In September
2015, the fashion show “Giordano – Fashion and Character events” was organised in Ho Chi
Minh with the appearance of many famous models and actors. The company also opened
three new stores in 2015 in Ho Chi Minh City.
 Like other apparel categories, men’s underwear was full of unbranded and counterfeit
products, which can be easy to buy at local markets, online and on the street. However, with
the new trend of buying underwear in supermarkets and department stores, there were a few
local manufacturers, such as Son Viet with its “Relax” brand, which tended to sell products in
such places to target the middle- and low-income segment. Meanwhile, international brands
like Calvin Klein Underwear found it difficult to compete with both local and unbranded
products in terms of price.
 Although men’s swimwear is flooded with counterfeit and unbranded products from China,
Thailand or Cambodia, thanks to the brighter economy and increase in the awareness of
wearing branded goods, more and more consumers are willing to spend more on these items
of clothing to show off their status in society. Moreover, with huge promotional events
throughout 2015 by many sportswear companies such as Nike or adidas, manufacturers
started getting back share from unbranded and black market products. Among them, Nike
continued to lead men’s swimwear.
 In 2015, understanding an increase in the new trend of pool parties, Hong Hanh Swimwear
Co Ltd continued to launch new designs for both men and women in order to respond to the
huge demand from middle- and low-income consumers.
 Few private label products exist in Vietnam, such as Saigon Union of Trading Cooperatives
and VTEC’s GBO, Vinatex Fashion of Vietnam National Textile & Garment Corp (Vinatex).
Most of these labels mainly focus on the middle- and low-income segment, but most
Vietnamese consumers do not recognise the difference between unbranded and private label,
so private label still holds a negligible share in men’s swimwear.
PROSPECTS
 Menswear is predicted to experience a good performance with a value CAGR of 5% at

constant 2015 prices over the forecast period due to the recovery of the economy and strong
improvement in the awareness of wearing branded clothing. In addition, with the signing of the
TPP(Trans-Pacific Partnership) agreement in October 2015, it could lead to a light decrease
in the average unit price of many international brands such as Nike, adidas, Giordano and
Diesel. Moreover, with a strong demand of wearing expensive products from the middle-
income segment, menswear is expected to witness good performance over the forecast
period.
 Counterfeit and unbranded products will remain the biggest threat to the growth rate of
swimwear. Despite huge promotional events from companies, the average salary of most
Vietnamese consumers is not enough to afford branded products like Nike and adidas, so
they still prefer to buy cheaper unbranded products from Korea or Malaysia.
 Most menswear categories are predicted to experience a better performance thanks to the
recovery of the economy. Among them, super premium jeans is expected to have a strong
value CAGR of 8% at constant 2015 prices due to a steady increase in the number of wealthy
people in Vietnam. Besides, in the future, most manufacturers in this category will create
more promotional events to attract customers.
 As a result of the tough competition created by the TPP agreement, most local manufacturers
will focus on improving their products’ quality and designs to meet global fashion trends,
whilst international brands will focus on attracting more customers with promotional events,
digital marketing activities and distribution networks in big cities like Ho Chi Minh and Ha Noi.
CATEGORY DATA
Table 1 Sales of Menswear: Volume 2010-2015
'000 units
2010 2011 2012 2013 2014 2015
Men's Nightwear 256.1 264.6 272.3 279.9 288.3 297.2

Men's Outerwear 32,107.8 32,637.7 33,187.2 33,735.6 34,607.5 35,764.8
Men's Jeans 3,178.6 3,206.8 3,257.5 3,306.8 3,373.6 3,451.7
- Economy Men's Jeans 2,426.8 2,419.4 2,431.5 2,442.4 2,466.8 2,496.4
- Standard Men's Jeans 675.2 705.7 738.2 771.4 808.5 851.3
- Premium Men's Jeans 61.4 63.8 66.5 69.2 72.1 75.3
-- Super Premium Men's 15.1 17.9 21.4 23.8 26.2 28.7
Jeans
Men's Outerwear (Excl 28,929.2 29,430.9 29,929.6 30,428.8 31,233.9 32,313.2
Jeans)
- Men's Jackets and Coats 4,120.9 4,182.8 4,241.3 4,296.5 4,360.9 4,448.1
- Men's Jumpers 882.8 891.6 899.6 906.8 915.9 926.9
- Men's Shirts 8,548.3 8,659.4 8,780.6 8,894.8 9,072.7 9,299.5
- Men's Shorts and 5,042.5 5,158.5 5,272.0 5,382.7 5,612.3 5,920.9
Trousers
- Men's Suits 87.7 88.4 89.0 89.8 90.8 92.6
- Men's Tops 10,151.1 10,354.2 10,550.9 10,761.9 11,084.8 11,528.2
- Other Men's Outerwear 95.9 96.1 96.2 96.3 96.6 97.0
Men's Swimwear 1,351.8 1,412.6 1,469.1 1,525.0 1,584.4 1,647.8
Men's Underwear 23,966.0 24,325.5 24,702.5 25,122.5 25,951.5 26,885.8
Menswear 57,681.7 58,640.4 59,631.1 60,662.9 62,431.7 64,595.6
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 2 Sales of Menswear: Value 2010-2015
VND billion
2010 2011 2012 2013 2014 2015
Men's Nightwear 63.0 72.2 81.6 92.4 102.1 111.8

Men's Outerwear 7,850.5 8,785.8 9,743.7 10,897.1 12,118.1 13,424.5
Men's Jeans 1,173.3 1,333.3 1,453.8 1,607.0 1,765.9 1,928.0
- Economy Men's Jeans 723.8 805.2 845.4 905.5 973.4 1,051.2
Jeans
Jeans)
- Men's Jumpers 131.6 145.6 160.3 177.6 191.5 204.9
- Men's Shirts 2,208.6 2,455.8 2,726.0 3,053.0 3,431.5 3,867.4
- Men's Shorts and 1,714.2 1,935.3 2,175.3 2,456.1 2,741.7 3,029.5
Trousers
- Men's Suits 72.7 80.4 88.6 98.3 108.6 119.2

- Men's Tops 1,255.5 1,396.0 1,549.6 1,740.2 1,947.3 2,171.2
Men's Swimwear 235.2 267.4 300.8 339.7 377.2 415.0
Men's Underwear 846.9 932.1 1,026.3 1,134.0 1,247.4 1,365.9
Menswear 8,995.7 10,057.5 11,152.4 12,463.1 13,844.8 15,317.2
Table 3 Sales of Menswear: % Volume Growth 2010-2015
% volume growth
2014/15 2010-15 CAGR 2010/15 Total
Men's Nightwear 3.1 3.0 16.0

Men's Outerwear 3.3 2.2 11.4
Men's Jeans 2.3 1.7 8.6
- Economy Men's Jeans 1.2 0.6 2.9
- Standard Men's Jeans 5.3 4.7 26.1
- Premium Men's Jeans 4.4 4.2 22.6
-- Super Premium Men's Jeans 9.3 13.6 89.5
Men's Outerwear (Excl Jeans) 3.5 2.2 11.7
- Men's Jackets and Coats 2.0 1.5 7.9
- Men's Jumpers 1.2 1.0 5.0
- Men's Shirts 2.5 1.7 8.8
- Men's Shorts and Trousers 5.5 3.3 17.4
- Men's Suits 2.0 1.1 5.6
- Men's Tops 4.0 2.6 13.6
- Other Men's Outerwear 0.4 0.2 1.1
Men's Swimwear 4.0 4.0 21.9
Men's Underwear 3.6 2.3 12.2
Menswear 3.5 2.3 12.0
Table 4 Sales of Menswear: % Value Growth 2010-2015
% current value growth

2014/15 2010-15 CAGR 2010/15 Total

Men's Jeans 9.2 10.4 64.3
- Men's Jumpers 7.0 9.3 55.7
- Men's Shirts 12.7 11.9 75.1
- Men's Suits 9.8 10.4 64.0
- Men's Tops 11.5 11.6 72.9
Menswear 10.6 11.2 70.3

Table 5 NBO Company Shares of Menswear: % Value 2011-2015
% retail value rsp

Company 2011 2012 2013 2014 2015
Viet Tien Garment JSC 9.0 8.2 8.3 8.7 9.0

Blue Exchange Co Ltd 2.2 2.7 2.7 2.8 2.9
Viet Fashion Co Ltd 1.7 1.9 1.9 2.0 2.0
Pierre Cardin SA 2.6 2.0 1.8 1.9 1.9
Nike Inc 1.0 1.1 1.1 1.1 1.2
PVH Corp 0.4 0.8 0.9 1.0 1.0
adidas Vietnam Co Ltd 0.6 0.6 0.7 0.7 0.8
An Phuoc Garment Co Ltd 0.5 0.5 0.5 0.5 0.6
Levi Strauss & Co 0.3 0.3 0.3 0.4 0.4
Giordano International 0.2 0.2 0.2 0.2 0.3
Ltd
Bossini International 0.3 0.2 0.2 0.2 0.2
Holdings Ltd
BasicNet SpA 0.1 0.1 0.1 0.2 0.2
Equibox Holding SpA 0.1 0.1 0.1 0.1 0.1
Phillips-Van Heusen Corp - - - - -
Viet Tien Garment Co - - - - -
(VTEC)
Others 80.9 81.3 81.1 80.1 79.6
Total 100.0 100.0 100.0 100.0 100.0
Table 6 LBN Brand Shares of Menswear: % Value 2012-2015
% retail value rsp

Brand (GBO) Company (NBO) 2012 2013 2014 2015
Viet Tien (Vietnam Viet Tien Garment JSC 8.2 8.3 8.7 9.0
National Textile &
Garment Corp
(VINATEX))
Blue Exchange Blue Exchange Co Ltd 2.7 2.7 2.8 2.9
Pierre Cardin Pierre Cardin SA 2.0 1.8 1.9 1.9
Ninomaxx Viet Fashion Co Ltd 1.6 1.6 1.7 1.7
Nike Nike Inc 1.0 1.0 1.0 1.0
An Phuoc An Phuoc Garment Co Ltd 0.5 0.5 0.5 0.6
adidas (adidas Group) adidas Vietnam Co Ltd 0.2 0.3 0.4 0.4
Reebok (adidas Group) adidas Vietnam Co Ltd 0.4 0.4 0.4 0.4
Levi's Levi Strauss & Co 0.3 0.3 0.4 0.4
Tommy Hilfiger PVH Corp 0.2 0.3 0.3 0.3
Giordano Giordano International Ltd 0.2 0.2 0.2 0.3
N&M Viet Fashion Co Ltd 0.3 0.3 0.3 0.2
Calvin Klein Jeans PVH Corp 0.2 0.2 0.2 0.2
Bossini Bossini International 0.2 0.2 0.2 0.2
Holdings Ltd
Hilfiger Denim PVH Corp 0.2 0.2 0.2 0.2
Calvin Klein PVH Corp 0.1 0.1 0.2 0.2
Kappa BasicNet SpA 0.1 0.1 0.2 0.2

Converse Nike Inc 0.1 0.2 0.1 0.1
Underwear
Replay Equibox Holding SpA 0.1 0.1 0.1 0.1
Viet Tien (Vietnam Viet Tien Garment Co - - - -
National Textile & (VTEC)
Garment Corp
(VINATEX))
Others Others 81.3 81.1 80.1 79.6
Total Total 100.0 100.0 100.0 100.0
Table 7 NBO Company Shares of Men’s Nightwear: % Value 2011-2015
% retail value rsp

Company 2011 2012 2013 2014 2015
Pierre Cardin SA 4.4 3.0 2.7 2.5 2.5

PVH Corp 0.4 0.9 1.0 1.1 1.1
New Balance Athletic 0.0 0.1 0.2 0.2 0.2
Shoe Inc
Others 95.2 95.9 96.2 96.2 96.2
Total 100.0 100.0 100.0 100.0 100.0
Table 8 LBN Brand Shares of Men’s Nightwear: % Value 2012-2015
% retail value rsp


New Balance New Balance Athletic 0.1 0.2 0.2 0.2
Shoe Inc
Calvin Klein Phillips-Van Heusen Corp - - - -
(Warnaco Group Inc)
Calvin Klein PVH Corp - - - -
(Warnaco Group Inc)
Others Others 95.9 96.2 96.2 96.2
Total Total 100.0 100.0 100.0 100.0
Table 9 NBO Company Shares of Men’s Outerwear: % Value 2011-2015
% retail value rsp

Company 2011 2012 2013 2014 2015

Pierre Cardin SA 2.9 2.2 2.0 2.1 2.1

Nike Inc 1.1 1.1 1.2 1.2 1.2
PVH Corp 0.4 0.8 0.9 0.9 1.0
Levi Strauss & Co 0.3 0.4 0.4 0.4 0.4
Ltd
Holdings Ltd
BasicNet SpA 0.1 0.1 0.2 0.2 0.2
Equibox Holding SpA 0.1 0.1 0.1 0.1 0.1
(VTEC)
Others 78.6 79.0 78.8 77.8 77.2
Total 100.0 100.0 100.0 100.0 100.0
Table 10 LBN Brand Shares of Men’s Outerwear: % Value 2012-2015
% retail value rsp

National Textile &
Garment Corp
(VINATEX))
Nike Nike Inc 1.0 1.0 1.0 1.0
Calvin Klein Jeans PVH Corp 0.2 0.2 0.2 0.2
Holdings Ltd
Hilfiger Denim PVH Corp 0.2 0.2 0.2 0.2
Replay Equibox Holding SpA 0.1 0.1 0.1 0.1
Calvin Klein Jeans PVH Corp - - - -
(Warnaco Group Inc)
Garment Corp
(VINATEX))
Others Others 79.0 78.8 77.8 77.2
Total Total 100.0 100.0 100.0 100.0
Table 11 NBO Company Shares of Men’s Swimwear: % Value 2011-2015
% retail value rsp

Company 2011 2012 2013 2014 2015
Nike Inc 3.9 3.9 4.3 4.6 4.7

PVH Corp 0.1 0.2 0.2 0.2 0.3
Others 95.3 95.2 94.9 94.5 94.3
Total 100.0 100.0 100.0 100.0 100.0
Table 12 LBN Brand Shares of Men’s Swimwear: % Value 2012-2015
% retail value rsp

Nike Nike Inc 3.9 4.3 4.6 4.7

Others Others 95.2 94.9 94.5 94.3
Total Total 100.0 100.0 100.0 100.0
Table 13 NBO Company Shares of Men’s Underwear: % Value 2011-2015
% retail value rsp

Company 2011 2012 2013 2014 2015
PVH Corp 0.6 1.4 1.5 1.7 1.6

Pierre Cardin SA 0.9 0.7 0.6 0.6 0.5
Others 97.8 97.4 97.3 97.1 97.2
Total 100.0 100.0 100.0 100.0 100.0
Table 14 LBN Brand Shares of Men’s Underwear: % Value 2012-2015
% retail value rsp


Underwear
Calvin Klein Phillips-Van Heusen Corp - - - -

Underwear (Warnaco
Group Inc)
Calvin Klein PVH Corp - - - -
Underwear (Warnaco
Group Inc)
Others Others 97.4 97.3 97.1 97.2
Total Total 100.0 100.0 100.0 100.0
Table 15 Forecast Sales of Menswear: Volume 2015-2020
'000 units
2015 2016 2017 2018 2019 2020
Men's Nightwear 297.2 306.7 316.9 327.6 339.1 351.3

Men's Outerwear 35,764.8 37,130.3 38,695.9 40,470.1 42,450.9 44,654.9
Men's Jeans 3,451.7 3,549.5 3,671.6 3,815.7 3,973.7 4,149.8
- Standard Men's Jeans 851.3 898.1 950.2 1,009.1 1,073.7 1,144.6
Jeans
Jeans)
- Men's Jumpers 926.9 939.8 954.9 972.1 991.5 1,013.3
- Men's Shirts 9,299.5 9,578.5 9,913.7 10,310.3 10,774.3 11,313.0
- Men's Shorts and 5,920.9 6,276.2 6,665.3 7,098.6 7,581.3 8,112.0
Trousers
- Men's Suits 92.6 95.0 97.5 100.2 103.2 106.2
- Men's Tops 11,528.2 12,012.3 12,552.9 13,142.9 13,773.7 14,448.7
Men's Swimwear 1,647.8 1,710.4 1,773.7 1,837.6 1,901.9 1,949.4
Men's Underwear 26,885.8 27,907.4 29,023.7 30,213.7 31,482.7 32,836.4
Menswear 64,595.6 67,054.9 69,810.2 72,849.0 76,174.5 79,792.0
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Table 16 Forecast Sales of Menswear: Value 2015-2020
VND billion
2015 2016 2017 2018 2019 2020
Men's Nightwear 111.8 118.7 123.4 127.8 131.6 135.3

Men's Outerwear 13,424.5 14,357.9 15,156.0 15,926.8 16,693.3 17,476.9
Men's Jeans 1,928.0 2,046.8 2,159.9 2,277.1 2,397.4 2,521.6
Jeans
Jeans)
- Men's Jumpers 204.9 212.7 218.0 223.2 228.3 233.4
- Men's Shirts 3,867.4 4,169.0 4,440.0 4,706.4 4,970.0 5,238.3

- Men's Shorts and 3,029.5 3,226.4 3,371.6 3,489.6 3,594.3 3,698.6
Trousers
- Men's Suits 119.2 127.2 133.9 140.6 146.9 152.8
- Men's Tops 2,171.2 2,344.9 2,502.0 2,667.2 2,840.5 3,022.3
Men's Swimwear 415.0 444.0 464.0 482.6 499.5 514.4
Men's Underwear 1,365.9 1,454.7 1,520.2 1,573.4 1,626.9 1,679.0
Menswear 15,317.2 16,375.3 17,263.7 18,110.5 18,951.3 19,805.5
trade sources
Table 17 Forecast Sales of Menswear: % Volume Growth 2015-2020
% volume growth
2015/16 2015-20 CAGR 2015/20 Total

Men's Jeans 2.8 3.8 20.2
- Men's Jumpers 1.4 1.8 9.3
- Men's Shirts 3.0 4.0 21.7
- Men's Suits 2.5 2.8 14.7
- Men's Tops 4.2 4.6 25.3
Menswear 3.8 4.3 23.5
trade sources
Table 18 Forecast Sales of Menswear: % Value Growth 2015-2020
% constant value growth

2015/2016 2015-20 CAGR 2015/20 TOTAL

Men's Jeans 6.2 5.5 30.8
- Men's Jumpers 3.8 2.6 13.9
- Men's Shirts 7.8 6.3 35.4
- Men's Suits 6.7 5.1 28.2
- Men's Tops 8.0 6.8 39.2

Menswear 6.9 5.3 29.3
trade sources
MENSWEAR IN VIETNAM - COMPANY

PROFILES
ADIDAS VIETNAM CO LTD IN APPAREL AND FOOTWEAR
(VIETNAM)
Strategic Direction
 Over the forecast period, adidas Vietnam Co aims to maintain its leading position within
sportswear in Vietnam through new product developments and sponsorship activities. In the
coming years, the company is expected to launch innovative products based on Boost
technology and take part in sponsorship activities that are targeted at young teenagers and
women.
Key Facts
Summary 1 adidas Vietnam Co Ltd: Key Facts

Full name of company: adidas Vietnam Co Ltd
www: www.adidas-group.com
Activities: Retailer of athletic and sports lifestyle products
for men and women
Source: Euromonitor International from company reports, company research, trade press, trade sources
Retail Operations
 In 2015, adidas Vietnam Co opened a few outlets in Hanoi and Ho Chi Minh City. As with
other international brands, the company mainly located its shops in popular shopping centres
in central areas of major cities. These locations helped adidas Vietnam Co to reinforce its
positioning as a high-end sports brand manufacturer and to reach out to its target customer
group of affluent consumers. Nevertheless, not all shopping centres had high traffic. In
addition, product offerings at shops did not vary a great deal. As a result, sales of one outlet
might cannibalise those of another.
Summary 2 adidas Vietnam Co: Retail Operational Indicators

2013 2014 2015
Outlets 45 47 96
Internet Strategy
 In 2015, adidas Vietnam Co had not yet developed its own website but used the global
domain of adidas Group. Besides Zalora and Lazada as third party online retailers, the
company also expands its internet network by providing products to other online channels
such as www.giayadidas.vn and www.adidastores.vn, in order to offer consumers an avenue
for online shopping and reach more customers. In addition, it also uses Facebook and other
social networks to communicate with its consumers about new products and promotions.
 Facebook remained the key social network site for adidas Vietnam Co due to the popularity of
the channel in Vietnam. By November 2015, adidas Vietnam Co had reached over 21 million
fans with the number of “people talking about this” exceeding 200,000. In July 2015, the
company launched a Facebook campaign called “X and Ace – Soccer story of your life” when
launching the X15 and Ace15 models into Vietnam. This was part of the global initiative from
adidas to increase its relationship with teenage consumers and to introduce new products to
football fans. Participants would take a picture of their adidas football shoes at special places
and send it to the fan page with a comment with the hashtag #BeTheDifference and share the
reason why this place was so special. The winner would win new X15 or ACE15 sports
footwear.
Competitive Positioning
 In 2015, adidas Vietnam Co recorded an increase in value share within apparel and footwear.
As reflected in sportswear, the value share of adidas Vietnam Co increased from 14% in 2014
to 15% in 2015, threatening Nike’s first place within sportswear. This strong performance in
2015 was mainly attributable to aggressive marketing activities and new product launches.
Among that, its marketing-integrated communications programme expanded across media
platforms such as Facebook and popular local newspapers. On the other hand, in the same
year its distribution network was also enlarged with the opening of new outlets in the major
cities.
 In 2015, adidas Vietnam Co started to roll out new products within apparel, aside from its
strongest category of footwear. In July 2015, it introduced two new series, X15 and ACE15,
for football fans in Vietnam. For X15, adidas included the techfit collar to give players flexible
ankle support. Meanwhile, for ACE15, adidas included NSG (non-stop grip), which is a newly-
developed skin that with 3D dots for the best possible control.
 The aggressive move to apparel was just a part of adidas Vietnam Co’s diversification
strategy. The company tried to target young customers in Vietnam, many of whom were
attracted to underground fashions. In 2015, a number of sportswear apparel collections for
women were launched, such as Dear Baes Tour Pack or adidas Neo, with various designs
and colours to attract more women, especially the young generation aged 14 to 30 years old.
Summary 3 adidas Vietnam Co: Competitive Position 2015

Product type % Value share Rank
Apparel and footwear 1.1% 4
Womenswear 0.2% 13
Menswear 0.8% 7
Childrenswear 0.3% 2
Sportswear 14.8% 2
Apparel accessories 2.9% 3
Footwear 2.1% 1
Source: Euromonitor International from company reports, company research, trade press, trade sources, trade
interviews
VIET TIEN GARMENT JSC IN APPAREL AND FOOTWEAR

(VIETNAM)
Strategic Direction
 Viet Tien Garment keeps investing to improve its technology in Vietnam and focus on
expanding its presence in Vietnam by engaging more sales agencies in the major cities and
suburban areas. Besides that, the company aims to strengthen its competitive position in all
apparel categories by developing various brands that cater to different consumer groups.
Key Facts
Summary 4 Viet Tien Garment JSC: Key Facts

Full name of company: Viet Tien Garment JSC
www: www.viettien.com.vn
Activities: Manufacturer, trader and retailer of clothing
and footwear
Summary 5 Viet Tien Garment JSC: Operational Indicators

2013 2014 2015
Net sales VND4,833.4 billion VND5,419.5 billion n/a
Net profit VND237.1 billion VND276.0 billion n/a
Number of n/a n/a n/a
employees
Retail Operations
 In 2015, Viet Tien Garment’s retail operations did not undergo any significant change. The
number of its store outlets was still at around 500 in 2015. They represented the company’s
extensive distribution network in Vietnam, which penetrated into the majority of cities and
provinces in the country.
Summary 6 Viet Tien Garment JSC: Retail Operational Indicators

2013 2014 2015
Outlets 502 502 496
Internet Strategy
 Viet Tien Garment’s internet retailing was still under development at the end of the review
period. In 2015, this was limited to its own website and third party internet retailers.
Competitive Positioning
 In Vietnam, Viet Tien has become a well-known brand to Vietnamese consumers thanks to its
long establishment. In 2015, the company continued to be a leading player in menswear with
a value share of 9% and enjoyed a healthy growth rate in current terms.
 Although the company is still experiencing difficulty in competing with international
manufacturers and the flood of counterfeit products in Vietnam, it continued to invest to
improve its technology in Vietnam, and focused on expanding its distribution network by
engaging more sales agencies within major cities and suburban areas. Viet Tien Garment
JSC also focused on organizing discount events to attract and reach more customers like
students. For example, Viet Tien created the campaign “Viettien – Beside and Support
Students” with a 40% discount for any student buying clothes in the first seven days each
month in 2015.
 In 2015, Viet Tien Garment JSC was the first domestic apparel manufacturer to apply LEAD
systems in improving its management, supply chain, apparel production and also product
quality. This strategy is in preparation for the TPP (Trans-Pacific Partnership) agreement over
the forecast period in order to compete in the domestic market and boost export volumes.
Summary 7 Viet Tien Garment JSC: Competitive Position 2015

Product type % Value share Rank
Apparel and footwear 2.2% 1
Womenswear 1.3% 4
Menswear 9.0% 1
Childrenswear - -
Sportswear - -
Apparel accessories 2.3% 5
Footwear - -
Source: Euromonitor International from company reports, company research, trade press, trade sources, trade
interviews
APPAREL AND FOOTWEAR IN

VIETNAM - INDUSTRY OVERVIEW
EXECUTIVE SUMMARY
Increased Demand for Appeal and Footwear

In 2015, the Vietnamese economy continued to improve gradually thanks to government
policies, and it led to a strong increase in consumer confidence and demand for apparel and
footwear. Moreover, thanks to the dynamic development of online retailing and the slight
improvement in the awareness of buying trusted brands, people were willing to spend more on
branded and expensive products. Overall, apparel and footwear in Vietnam experienced a
significant increase in sales in 2015.
Low-priced Products From Thailand Enter Vietnam

Products made in China continued to dominate the category due to their long-established
presence, low prices and diversified designs. However, due to the dispute over the South China
Sea and many poison scandals regarding the content of Chinese clothes, people started to
boycott these products and switch to products from locations such as Thailand.
Domestic Players Struggle To Compete With International Brands and

Focus on Mid-priced Products
Vietnam’s premium apparel category was dominated by international brands, especially the
upper mid- to high-end segments. Most of these companies focused on expanding distribution
networks in two big cities such as Ho Chi Minh and Ha Noi, where upper- and high-income
consumers live, and where following fashion trends is important. As a result, in order to compete
with international brands, domestic players continued to target the mid-priced segment and
focus on improving both quality and design to attract more customers.
Dynamic Competition Between Domestic and International Brands

Online retailing is becoming increasingly popular in the country thanks to the development of
the internet and social networking. Currently, with a strong improvement in living standards,
people are finding it very convenient to browse and compare different kinds of apparel products
online. However, there are still some people who worry about online retailing because it is hard
to ascertain the quality of products, they do not trust the online retailers, or do not have a bank
card.
Trans-pacific Partnership: New Threats and Opportunities for Appeal

and Footwear
In October 2015, the TPP (Trans-Pacific Partnership) trade pact was signed and it could lead
to a huge change in the apparel category over the forecast period. It means Vietnam is going to
open the domestic market to other nations by removing barriers and reduce the tax by 100%. As
a result, more and more international brands will enter the country and respond to the huge
demand for expensive brands from Vietnamese consumers. Consequently, domestic brands will
have to compete with more strong players in apparel from all over the world. Meanwhile, thanks
to the TPP trade agreement, many local manufacturers can focus on exporting to other
participating nations and gain more profit than in Vietnam.
KEY TRENDS AND DEVELOPMENTS
To Boycott Chinese Products, A New Trend of Apparel From Thailand Is

Rising Strongly
Due to the dispute over the South China Sea and many poison scandals regarding the
content of Chinese clothes, people started to boycott these products and switch to products
from markets such as Thailand. Products from Thailand have become the new choice for most
Vietnamese consumers due to their low price and beautiful designs.
In 2015, many consumer good fairs markets were organised more frequently in big cities like
Ho Chi Minh or Ha Noi and received a warm welcome from Vietnamese consumers. Most of
these people admitted the average price of products at these events is more expensive, but it is
still much cheaper than the average price of Vietnamese apparel and footwear. Indeed, some
families spent over VND5 million in only one day of shopping at a market.
Outlook
Over the forecast period, these trends will decrease slightly because of the brighter economic
performance and slight improvement in the awareness of branded products. Consumers are
willing to spend more on clothing and will return to local companies such as Blue Exchange Co
Ltd and Viet Fashion Co Ltd. So thus, in order to compete with international manufacturers,
these domestic companies will expand their distribution widely and continue to target the low- or
middle-income segment. Moreover, they will also pay attention to improving both the quality and
design to match international standards to attract more Vietnamese consumers.
Meanwhile, international brands will create more huge promotion events to reach more
customers in the middle-income segment, which is the target segment of local companies.
These discount events are the main reason for the drop in sales value of unbranded products.
On the other hand, in order to respond to the high demand for expensive brands such as
Mango, Zara, H&M and Diesel, a new trend of counterfeit products has increased dramatically,
and the target customers are usually office women with a medium income. This trend will also
damage the value growth rate of apparel and footwear, as will unbranded products from
Thailand.
Online Shopping Growth Due To the Rise of Internet Retailing Stores

There was a dynamic increase in the number of online retailing stores due to development of
the internet and social network sites. More and more people like using the internet to shop
because of its convenience and many discount events from internet stores such as Lazada and
Zalora.
According to online shopping research of Master Card in 2014, in the first three months of
2015, the volume of people using online shopping increased from 68.4% to 80.2%, which was
the second highest growth in Asia and higher than 2014 by 13.8%. About two thirds of the
people said online shopping is the main reason why people access the internet in their free time
and these consumers tend to buy various products more than shopping in stores. Furthermore,
woman and people aged 35 - 44 years old are the majority making online shopping transactions
during the same period, which are 85.1% and 86.5% respectively. As a result, in 2015, shopping
online has been a new shopping trend of Vietnamese consumers. However, some people still
worry about shopping online because of some issues: it is hard to ascertain the quality of
products, they do not trust the online retailers, or do not have bank card.
Zalora was the strongest online player specialising in sales of apparel. In 2015, besides
dynamic marketing activities, Zalora also organised a lot of fashion events to increase its brand
name position in the market, such as Zalora and Elle style award 2015 with a huge participation
from famous models and stars. There were also a strong increase in the number of online
retailers, for example, Zendo (by FPT Online Service JSC) and Zanado (by Zanodo CP
Company) are two new online players that focus on medium- or low-income customers.
Outlook
The shopping online trend is predicted to keep improving strongly over the forecast period
due to the development of the internet network and slight increase in the use of bank cards. By
2020, the government will continue to focus on expanding the distribution network and improve
its technology by updating new modern tech and developing internally. Furthermore, in order to
increase the number of people using the internet in Vietnam, the government is also
encouraging people by adjusting the internet service to be more suited to the average income in
Vietnam. As a result, online retailing will also increase strongly in the future not only in the main
cities like Ho Chi Minh and Ha Noi, but also in rural or suburban areas.
Moreover, the number of people using smart phones is set to increase dramatically during the
forecast period thanks to the recovery of the economy. Together with the strong development of
3G internet, it could also lead to the rise of online shopping in the future.
On the other hand, with dynamic digital marketing activity and huge promotional events from
online retailing players such Zalora, Zalada or Zendo, these companies will continue to increase
the demand of buying apparel and footwear in Vietnam over the forecast period. Online retailing
will also face some threats, such as individual online shops and many local online shops from
www.123mua.vn or www.enbac.vn that are selling unbranded and counterfeit products illegally.
Domestic Players Struggle To Compete With International Brands and

Focus on Mid-priced Products
Currently, the Vietnamese economic performance is improving gradually thanks to
government policies, and the real GDP growth was 6%, which was the highest rate in the last
five years. As a result, Vietnamese consumers were willing to spend more on international and
expensive brands due to the high quality and modern designs of these products, and to show
their status. However, the size of this group of consumers is small and they are mainly in the big
cities like Ha Noi and Ho Chi Minh City. Understanding this, most international brands paid
strong attention to expanding their distribution networks, especially in centre fashion streets,
department stores and shopping malls, such as Parkson or Vincom, because medium- and
high-income consumers tend to purchase in these places. In 2015, Mango opened two mega
stores at Vincom Ba Trieu and Vincom Royal Ha Noi, which are over 1,000 sq m.
On the other hand, in 2015, apparel and footwear witnessed a dynamic environment and
competition between international brands due to the huge number of discount events throughout
the year by plenty of famous brands like adidas, Nike, Mango, Charles & Keith, New Balance,
and Triumph. Indeed, in order to reach more customers from the upper-mid and middle-income
segments, most foreign players tend to create more promotion events to attract consumers and
gain share. Each discount event becomes a huge event and receives a lot of attention from
Vietnamese consumers. For example, in September 2015, Vstyle Private Sale up to 50% was
created by many international brands like Nike, Diesel, Gap, Versace, Tumi, Tommy Hilfiger,
Calvin Klein and over 200 people per day came to buy their favourite brands.
As a result, domestic companies are facing a huge challenge of getting customers back and
building their reputation. Most local companies continued to keep improving both the quality and
design of their products to reach international standards, and developed online retailing
networks with many promotional events to attract more customers. However, most Vietnamese
consumers still like wearing international products because of their higher quality, designs and
to show off their social status. In general, Blue Exchange Co Ltd and Viet Fashion Co Ltd are
two leading local players in apparel due to their low prices and wide distribution network.
Outlook
Over the forecast period, the TPP (Trans-Pacific Partnership) trade pact means there will be
more international companies entering the Vietnamese market with affordable prices due to
removing the 100% tariff. Moreover, with the culture in the country of buying foreign brands to
show off their status, it will be a huge advantage to enter this potential market in the ASEAN
region.
Thus, to survive in apparel and footwear, most domestic companies will continue to target the
medium- and low-income segment, improve the quality of their products, launch more beautiful
designs, as well as expand their distribution networks, especially in suburban and rural areas.
Furthermore, due to the huge online shopping trend, these companies will start to focus on
developing internet retailing and improve customer service to reach more customers and build
their reputation.
MARKET DATA
Table 19 Sales of Apparel and Footwear by Category: Volume 2010-2015
'000 units
2010 2011 2012 2013 2014 2015
Apparel 196,782.1 200,578.1 204,401.6 208,186.4 213,598.4 220,515.2

Footwear 56,143.4 62,716.8 68,800.0 75,173.2 82,210.8 86,612.8
Apparel and Footwear 252,925.5 263,295.0 273,201.7 283,359.5 295,809.2 307,128.0
Note: Sportswear volume not researched
Table 20 Sales of Apparel and Footwear by Category: Value 2010-2015
VND billion
2010 2011 2012 2013 2014 2015
Apparel 26,869.3 30,112.1 33,298.8 37,064.8 40,973.6 45,178.8

Footwear 13,732.2 17,150.7 19,702.2 22,701.9 26,126.1 29,964.7
Sportswear 2,871.8 3,368.5 3,916.8 4,621.0 5,133.3 5,677.7
Table 21 Sales of Apparel and Footwear by Category: % Volume Growth 2010-2015
% volume growth
2014/15 2010-15 CAGR 2010/15 Total
Apparel 3.2 2.3 12.1
Footwear 5.4 9.1 54.3

Apparel and Footwear 3.8 4.0 21.4
Table 22 Sales of Apparel and Footwear by Category: % Value Growth 2010-2015
% current value growth

2014/15 2010-15 CAGR 2010/15 Total
Apparel 10.3 11.0 68.1

Footwear 14.7 16.9 118.2
Sportswear 10.6 14.6 97.7
Table 23 NBO Company Shares of Apparel and Footwear: % Value 2011-2015
% retail value rsp

Company 2011 2012 2013 2014 2015

Nike Inc 1.0 1.0 1.1 1.1 1.1
Triumph International 0.5 0.5 0.5 0.5 0.5
(Vietnam) Ltd
Pierre Cardin SA 0.6 0.5 0.4 0.4 0.4
PVH Corp 0.2 0.4 0.4 0.4 0.4
Binh Tien Dong Nai Imex 0.3 0.3 0.3 0.3 0.4
Corp Pte Ltd
Punto Fa SL (Mango) 0.1 0.2 0.2 0.2 0.2
Quadrille & Vera 0.2 0.2 0.2 0.2 0.2
International Ltd
Levi Strauss & Co 0.1 0.2 0.2 0.2 0.2
Kering SA - - 0.1 0.1 0.1
BasicNet SpA 0.1 0.1 0.1 0.1 0.1
Ltd
Holdings Ltd
(VTEC)
Others 91.7 91.5 91.2 90.9 90.7
Total 100.0 100.0 100.0 100.0 100.0
Table 24 LBN Brand Shares of Apparel and Footwear: % Value 2012-2015
% retail value rsp
National Textile &
Garment Corp
(VINATEX))
Nike Nike Inc 0.9 0.9 1.0 1.0
Triumph (Triumph Triumph International 0.5 0.5 0.5 0.5
International AG) (Vietnam) Ltd
Biti's Binh Tien Dong Nai Imex 0.3 0.3 0.3 0.4
Corp Pte Ltd
Mango Punto Fa SL (Mango) 0.2 0.2 0.2 0.2
Vera Quadrille & Vera 0.2 0.2 0.2 0.2
International Ltd
Puma Kering SA - 0.1 0.1 0.1
Holdings Ltd
Garment Corp
(VINATEX))
Others Others 91.8 91.6 91.2 91.0
Total Total 100.0 100.0 100.0 100.0
Table 25 Distribution of Apparel and Footwear by Format: % Value 2010-2015
% retail value rsp

2010 2011 2012 2013 2014 2015
Store-Based Retailing 99.0 97.3 95.4 93.7 92.4 90.9

- Grocery Retailers 22.7 22.1 29.2 30.2 30.5 27.2
-- Modern Grocery 3.7 4.1 5.7 6.0 6.0 6.2
Retailers
--- Convenience Stores - - - - - -
--- Discounters - - - - - -
--- Forecourt Retailers - - - - - -
--- Hypermarkets 1.2 1.4 2.1 2.2 2.2 2.3
--- Supermarkets 2.5 2.7 3.6 3.8 3.8 3.9
-- Traditional Grocery 19.1 18.1 23.5 24.2 24.5 21.0
Retailers
--- Food/drink/tobacco - - - - - -
specialists
--- Independent Small - - - - - -
Grocers
--- Other Grocery 19.1 18.1 23.5 24.2 24.5 21.0
Retailers
- Non-Grocery Specialists 74.2 72.9 63.5 60.3 58.3 60.0
-- Apparel and Footwear 70.1 68.5 58.6 55.8 54.5 54.6
Specialist Retailers
-- Leisure and Personal 2.1 2.1 2.2 2.3 2.4 2.6
Goods Specialist
Retailers
--- Sports goods stores 2.0 2.1 2.1 2.2 2.4 2.5
--- Other Leisure and 0.1 0.0 0.1 0.1 0.1 0.1
Personal Goods
Specialist Apparel
Retailers
Other Non-Grocery 2.0 2.2 2.7 2.2 1.4 2.8
Apparel and Footwear
Specialists
- Mixed Retailers 2.1 2.3 2.7 3.1 3.6 3.7
-- Department Stores 2.0 2.2 2.7 3.1 3.5 3.6
-- Mass Merchandisers - - - - - -
-- Variety Stores 0.0 0.0 0.0 0.0 0.0 0.0
-- Warehouse Clubs - - - - - -
Non-Store Retailing 1.0 2.7 4.6 6.3 7.6 9.1
- Homeshopping - - - - - -
- Internet Retailing 1.0 2.7 4.6 6.3 7.6 9.1
- Direct Selling - - - - - -
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 26 Distribution of Apparel and Footwear by Format and Category: % Value 2015
% retail value rsp

AP FW SW
Store-Based Retailing 88.9 93.8 94.4

- Grocery Retailers 20.9 36.7 32.0
-- Modern Grocery Retailers 5.9 6.7 6.0
--- Convenience Stores 0.0 0.0 0.0
--- Discounters 0.0 0.0 0.0
--- Forecourt Retailers 0.0 0.0 0.0
--- Hypermarkets 2.1 2.7 2.4
--- Supermarkets 3.8 4.0 3.6
-- Traditional Grocery Retailers 15.0 30.0 26.0
--- Food/drink/tobacco specialists 0.0 0.0 0.0
--- Independent Small Grocers 0.0 0.0 0.0
--- Other Grocery Retailers 15.0 30.0 26.0
- Non-Grocery Specialists 64.7 52.8 58.2
-- Apparel and Footwear Specialist 59.6 47.0 22.6
Retailers
-- Leisure and Personal Goods 1.7 3.9 30.0
Specialist Retailers
--- Sports goods stores 1.6 3.9 30.0
--- Other Leisure and Personal Goods 0.1 0.0 0.0
Specialist Apparel Retailers
Other Non-Grocery Apparel and 3.4 1.9 5.6
Footwear Specialists
- Mixed Retailers 3.3 4.3 4.3
-- Department Stores 3.2 4.3 4.3
-- Mass Merchandisers 0.0 0.0 0.0
-- Variety Stores 0.1 0.0 0.0

-- Warehouse Clubs 0.0 0.0 0.0
Non-Store Retailing 11.1 6.2 5.6
- Homeshopping 0.0 0.0 0.0
- Internet Retailing 11.1 6.2 5.6
- Direct Selling 0.0 0.0 0.0
- Vending 0.0 0.0 0.0
Total 100.0 100.0 100.0
Key: AP = apparel; FW = footwear; SW = Sportswear
Table 27 Forecast Sales of Apparel and Footwear by Category: Volume 2015-2020
'000 units
2015 2016 2017 2018 2019 2020
Apparel 220,515.2 228,207.0 236,553.0 245,379.4 254,829.3 264,956.6

Footwear 86,612.8 95,659.4 105,863.0 117,512.4 130,914.5 146,078.1
trade sources
Table 28 Forecast Sales of Apparel and Footwear by Category: Value 2015-2020
VND billion
2015 2016 2017 2018 2019 2020
Apparel 45,178.8 48,165.5 50,632.8 53,008.3 55,360.4 57,701.1

Footwear 29,964.7 33,597.3 37,543.5 42,002.7 47,139.6 53,196.5
Sportswear 5,677.7 6,102.9 6,499.0 6,911.4 7,338.3 7,778.1
trade sources
Table 29 Forecast Sales of Apparel and Footwear by Category: % Volume Growth

2015-2020
% volume growth
2015/16 2015-20 CAGR 2015/20 Total
Apparel 3.5 3.7 20.2

Footwear 10.4 11.0 68.7
trade sources
Table 30 Forecast Sales of Apparel and Footwear by Category: % Value Growth 2015-
2020
% constant value growth

2015/2016 2015-20 CAGR 2015/20 TOTAL
Apparel 6.6 5.0 27.7

Footwear 12.1 12.2 77.5
Sportswear 7.5 6.5 37.0
trade sources
DEFINITIONS
Other terminology:
 GBO refers to global brand owner, which is the ultimate owner of a brand.
 NBO refers to national brand owner, which is the company licensed to distribute a brand on
behalf of a GBO. The NBO may be a subsidiary of a GBO or it may be a completely separate
company. Share tables at both GBO and at NBO level are provided in the report. Reference
to shares in the report analysis is at NBO level.
SOURCES
Sources used during the research included the following:
Summary 8 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
Giay Da Viet
Vietnam Leather & Footwear Association
Vietnam Textile & Apparel Association
Trade Press Bao Ha Tinh
Bao Moi
Café F
Cong Ly News
Doanh Nhan Sai Gon
Dung Hang Viet
E-Newspaper of Industry & Trade
Entrepreneur Forum
Ha Giang News Online
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Source: Euromonitor International

Menswear in Vietnam

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Menswear in Vietnam

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MENSWEAR IN VIETNAM

LIST OF CONTENTS AND TABLES

Apparel and Footwear in Vietnam - Industry Overview .............................................................. 17

 Menswear is predicted to experience a good performance with a value CAGR of 5% at

Men's Nightwear 256.1 264.6 272.3 279.9 288.3 297.2

Table 2 Sales of Menswear: Value 2010-2015

Men's Nightwear 63.0 72.2 81.6 92.4 102.1 111.8

- Men's Suits 72.7 80.4 88.6 98.3 108.6 119.2

Table 3 Sales of Menswear: % Volume Growth 2010-2015

Men's Nightwear 3.1 3.0 16.0

Table 4 Sales of Menswear: % Value Growth 2010-2015

% current value growth

Men's Nightwear 9.5 12.1 77.4

Menswear 10.6 11.2 70.3

Table 5 NBO Company Shares of Menswear: % Value 2011-2015

% retail value rsp

Viet Tien Garment JSC 9.0 8.2 8.3 8.7 9.0

Table 6 LBN Brand Shares of Menswear: % Value 2012-2015

% retail value rsp

Kappa BasicNet SpA 0.1 0.1 0.2 0.2

Table 7 NBO Company Shares of Men’s Nightwear: % Value 2011-2015

% retail value rsp

Pierre Cardin SA 4.4 3.0 2.7 2.5 2.5

Table 8 LBN Brand Shares of Men’s Nightwear: % Value 2012-2015

% retail value rsp

Pierre Cardin Pierre Cardin SA 3.0 2.7 2.5 2.5

Table 9 NBO Company Shares of Men’s Outerwear: % Value 2011-2015

% retail value rsp

Viet Tien Garment JSC 10.3 9.4 9.5 9.9 10.3

Pierre Cardin SA 2.9 2.2 2.0 2.1 2.1

Table 10 LBN Brand Shares of Men’s Outerwear: % Value 2012-2015

% retail value rsp

Table 11 NBO Company Shares of Men’s Swimwear: % Value 2011-2015

% retail value rsp

Nike Inc 3.9 3.9 4.3 4.6 4.7

Table 12 LBN Brand Shares of Men’s Swimwear: % Value 2012-2015

% retail value rsp

Nike Nike Inc 3.9 4.3 4.6 4.7

Table 13 NBO Company Shares of Men’s Underwear: % Value 2011-2015

% retail value rsp

PVH Corp 0.6 1.4 1.5 1.7 1.6

Table 14 LBN Brand Shares of Men’s Underwear: % Value 2012-2015

% retail value rsp

Calvin Klein PVH Corp 1.4 1.5 1.7 1.6

Calvin Klein Phillips-Van Heusen Corp - - - -

Table 15 Forecast Sales of Menswear: Volume 2015-2020

Men's Nightwear 297.2 306.7 316.9 327.6 339.1 351.3

Table 16 Forecast Sales of Menswear: Value 2015-2020

Men's Nightwear 111.8 118.7 123.4 127.8 131.6 135.3

- Men's Shirts 3,867.4 4,169.0 4,440.0 4,706.4 4,970.0 5,238.3

Table 17 Forecast Sales of Menswear: % Volume Growth 2015-2020

Men's Nightwear 3.2 3.4 18.2

Table 18 Forecast Sales of Menswear: % Value Growth 2015-2020

% constant value growth

Men's Nightwear 6.2 3.9 21.0

- Other Men's Outerwear 6.5 2.8 14.7

MENSWEAR IN VIETNAM - COMPANY

Summary 1 adidas Vietnam Co Ltd: Key Facts

Summary 2 adidas Vietnam Co: Retail Operational Indicators

Summary 3 adidas Vietnam Co: Competitive Position 2015

VIET TIEN GARMENT JSC IN APPAREL AND FOOTWEAR

Summary 4 Viet Tien Garment JSC: Key Facts

Summary 5 Viet Tien Garment JSC: Operational Indicators

Summary 6 Viet Tien Garment JSC: Retail Operational Indicators