Garment and textile companies are now rushing to offer big discounts to attract customers, even for their new products, due to sluggish sales.
Many companies have launched the discounts as high as 90% on several brands to clear inventory.
The local garment market has seen thousands of new designs this season, but this year many of them are being sold 15-30% cheaper than the same period last year. Meanwhile, the producers have been spending more on materials and labour.
Many companies have launched the discounts as high as 90% on several brands to clear inventory.
Viet Fashion Corporation has introduced 300 new designs with two major brands, Ninomaxx and N&M, at 188 shops nationwide. The products range from VND100,000-150,000 (USD4.76-7.1) each, and were made to be affordable.
Viet Thy Company has also launched more than 100 new designs, double last year’s figure. Nguyen Thi Anh, Business Manager of the company, said, “With these new designs customers will have a much wider selection on a tight budget. Viet Thy products’ prices are VND79,000-349,000 (USD3.76-16.6) each, down 20% against 2011.”
Foci has unveiled 300 new designs that are priced at 50% from last year. The average price for each product is VND128,000 (USD6.1) compared to VND168,000 (USD5.95) last year. Focis has expanded online services and allows customers to change their bought products within 30 days.
Blue Exchange has offered special discounts for several designs at just VND50,000 – 59,000 (USD2.38-.2.8) Meanwhile, Viet Thy is preparing a 40-50% discounts early December and sell many products at only VND40,000-50,000.
