Vietnamese fashion goes abroad
May 11, 2007
VietQ News that me likey.
|16:35′ 24/04/2007 (GMT+7)|
VietNamNet Bridge – Years ago, while the textile-garment industry of Vietnam was processing for foreign clients, Ninomaxx was designing, producing on industrial scale and building its own distribution network.
Currently, Ninomaxx not only holds a large market share in Vietnam but is also the only representative of Vietnamese fashion in the US.
According to the Vietnam Textile-Garment Association, of the nearly US$6 billion of textile-garment export turnover reported in 2006, the real value that the country earned accounted for only 20-30%. The remaining went to foreign partners, coming from imported materials, which were re-exported after that.
So far, Vietnam has not built a fashion industry. Ninomaxx is one of only several local companies that produce fashion garments on industrial scale.
“When our first shop with Maxx brand opened in 1998, we had already defined our strategy: turning Ninomaxx into a regional and world trademark,” said Nguyen Huu Phung, Ninomaxx’s Chairman.
Mr Phung said that 16 years ago when he went abroad, he tried to learn about the development of international fashion brands to apply in Vietnam. His Ninomaxx has become a leading fashion trademark in Vietnam.
Starting with the first shop in 1998 in HCM City, Ninomaxx has spread to many provinces in the south, the central region and the north. It currently has nearly 50 shops and 30 agents nationwide. Ninomaxx’s turnover has reached hundreds of billions of dong and it has been selected as the strongest brand in Vietnam by the Vietnam Textile-garment Association.
Ninomaxx was also the pioneer in taking Vietnamese fashion products abroad. Firstly, it opened shops in the neighbouring country of Cambodia, and then it developed a distribution network in Australia. After several years of preparation, Ninomaxx opened shops in the US.
According to Mr Phung, going to the US is a strategic and ambitious step of Ninomaxx. In the near future, Ninomaxx will expand to some European countries and its distribution network in Southeast Asia will be further expanded. In Vietnam, Ninomaxx will open shops in all 64 provinces and cities, with 120-150 shops.
Along with developing its distribution network, both at home and abroad, Ninomaxx will join hands with a US partner to produce high-class products. To have capital for those plans, the company will perform equitisation and list its shares on the stock market at this year’s end, said Mr Phung.