Vinatex Is Aiming to Increase Its Revenue From Domestic Sales

Vietnam Textile and Garment Group (Vinatex) is aiming to increase its revenue from domestic sales to 50 percent of its total revenue, compared to a share of 30 percent in 2012, the company has said.
 
In recent years, members of Vinatex have made investments in manufacturing, focusing on innovative product design, and development and strengthening brands and distribution channels to expand market share in the domestic market, according to Vinatex general director Tran Quang Nghi, Vietnam Plus reported.
 
One of the solutions adopted by Vinatex to raise domestic consumption was to expand supermarket chain Vinatexmart. As a result, Vinatexmart currently owns 82 supermarkets in 28 provinces and cities across Vietnam.
 
In addition, members are also actively expanding Vinatex product showrooms and dealers in all provinces and cities with points of sale currently reaching about 4,000, Mr. Nghi said.
 
In 2012, Vinatex earned nearly 30 percent of its total revenue from domestic sales, compared to 15 percent a year earlier, and now the Group is targeting to increase its revenue from domestic sales to 50 percent of its total revenue, he added.
 
Vietnam has a domestic market of 90 million people, but the country largely depends on import of raw materials for its textiles and garments, and hence the domestic products are usually priced higher, and are made in accordance with the requirements of international buyers, which do not match the needs of local market.
 
Vinatex is one of the largest textile and garment corporations in Asia. The Group includes nearly 120 subsidiary companies that produce textile and garments and run commercial services. These companies also have their own distribution systems including wholesale and retail dealers.