Jeans sales fell sharply in Vietnam in 2020. As a result of COVID-19, consumers have been spending most of their time at home and thus paying less attention to getting dressed, instead focusing on comfort.
Over most of the review period, demand for jeans was boosted by the improving economy and higher living standards. However, branded jeans face strong competition from the large number of counterfeit and unbranded goods available.
Inditex retains its leading position within jeans due to the widespread popularity of its Zara and Pull & Bear brands, with the company taking over Au Chau Fashion & Cosmetic in 2018. This success can mainly be attributed to a stronger brand reputation, Western designs and high product quality.
Thanks to aggressive government pandemic control measures, the Vietnamese economy is predicted to recover and grow healthily over the forecast period, thus helping to boost sales of standard and premium brands such as Bossini and Levi’s. Over the forecast period, economy’s jeans is predicted to see stronger growth than most jean categories due to lower pricing and wide distribution across the country as most players in this area are usually local and small businesses.
Despite the premiumisation trend, economy jeans continue to lead overall sales in Vietnam due to their wide distribution network, large number of options and lower pricing. Nevertheless, demand for premium jeans continues to rise strongly among both men and women, mainly due to the boom in the number of new international brands such as Zara and Levi’s.
The rise in the number of start-up companies and adoption of Western working practices in Vietnam is also resulting in a shift from traditional formal workwear towards casual alternatives. Indeed, even established companies such as DBS Bank, Unilever and adidas are complying with this trend and changing their official regulations.
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Understand the latest market trends and future growth opportunities for the Jeans industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jeans industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Jeans research and analysis database.
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