In 2020, menswear saw negative value and volume growth, mainly due to the economic downturn in the wake of the COVID-19 crisis. Similar to womenswear, the closure of a large number of businesses and decreasing number of white-collar jobs had a particularly strong impact on super premium jeans and suits.
Over the review period, demand for menswear was boosted by the improving economic outlook and higher living standards. Male consumers living in cities like Hanoi and Ho Chi Minh are willing to spend more on premium brands such as Zara, Levi’s, adidas and An Phuoc as a way to show off their status.
Vietnamese company Viet Tien Garment JSC continues to perform well within menswear due to the widespread popularity of its Viet Tien and Ninomaxx brands. The success of the company can mainly be attributed to its well-known local reputation, a diversified product portfolio, acceptable quality and affordable prices.
The COVID-19 pandemic has negatively impacted sales of menswear, mainly due to the forced closure of non-essential retail stores during the lockdown. Nevertheless, assuming that the pandemic eases in the first half of 2021 along with mass vaccination, menswear is expected to see a return to growth.
Leading e-commerce platforms such as Zalora, Shopee and Adayroi continue to develop strongly in Vietnam. This is helping to boost menswear value sales, with male consumers searching and buying products easily from wherever they want.
There is currently a gradual shift from purchasing economy products to premium brands such as Levi’s and Zara in big cities. Indeed, premium jeans recorded strong value growth within menswear over the review period.
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Understand the latest market trends and future growth opportunities for the Menswear 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 Menswear 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 Menswear research and analysis database.
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