Denim and jeans fly off shelves from Vietnam

By Thuy Tuong
Sun, February 19, 2023 | 7:00 am GMT+7

Vietnam’s denim and jeans sector is seeing better export opportunities thanks to higher global demand, lower European taxes, and the country’s efforts to embrace sustainable textile and garment development.

The world’s denim and jeans market was valued at more than $6.2 billion in 2021 and is expected to expand at a combined annual growth rate (CAGR) of 8.26% over the next five years to reach $9.98 billion by 2027, according to the “Denim Jeans Market Research Report 2023-2027" released this February by Market Growth Reports, a global firm in the market research industry.

Denim jeans are a very popular article of casual dress around the world, and come in many styles and colors. However, blue jeans are particularly identified with U.S. culture. Denim jeans have a very wide appeal and are considered comfortable, durable, trendy, and cool, according to the report.

A denim and jeans outlet in Japan. Photo courtesy of Denimsandjeans.com

A denim and jeans outlet in Japan. Photo courtesy of Denimsandjeans.com

Sandeep Agarwal, CEO of Indian company Balaji Enterprises and founder of sectoral platform Denimsandjeans.com, told a press briefing in Ho Chi Minh City Friday that Vietnam, as a key exporter of textile and garment products worldwide, is shipping plenty of denim clothes. Europe’s taxes on the products are 4-6% currently but will drop to zero over the next two years.

Another advantage for Vietnam is the continued efforts of the apparel sector to embrace green production, sustainability, and circularity to further fuel green exports and sharpen its competitive edge.

Agarwal said his company and his denim platform, in partnership with the Vietnam Textile and Apparel Association (VITAS), will organize the fifth edition of the Denimsandjeans.com Vietnam Show in HCMC on March 1-2 with the participation of fabric and apparel enterprises from 10 countries and territories, who will showcase the latest fashion trends and innovations in the global denim industry.

The event is also expected to serve as a good opportunity for exhibitors to seek and establish partnerships, and for the Vietnamese denim supply sector to show its competency to international visitors, said VITAS general secretary Nguyen Tuyet Mai.

On the sidelines of the show, a series of seminars will be held with international experts taking part to discuss the future of denim supply, sustainable development, artificial intelligence-assisted breakthroughs for denim, and other issues, according to the organizers.

Around 20 years ago, denim jeans were basic products, but they are nowadays fashion items that change every season with different varieties.

As for jeans imports to the U.S. from January-October last year, women’s and girls’ items rose 19.06% to $285.82 million, while men’s and boys’ jeans were up 19.36% to $93.33 million, according to data from the U.S. Commerce Department’s Office of Textiles and Apparel (OTEXA).

Vietnam earned around $44 billion from textile and garment exports in 2022, up 8.8% from 2021, with items shipped to 66 countries and territories worldwide, according to VITAS. This year’s expected value is $47-48 billion in a positive scenario and $45-46 billion in a less positive scenario

Comments (0)
  • Read More
Leading steelmaker Hoa Phat targets record revenue on partial operation of central Vietnam plant

Leading steelmaker Hoa Phat targets record revenue on partial operation of central Vietnam plant

Hoa Phat Group, Vietnam’s top steelmaker, targets a record-high revenue in 2025, driven by the expected partial operation of a steel and iron complex in the central region this year.

Companies - Thu, March 27, 2025 | 8:10 pm GMT+7

Offshore wind power developer CIP seeks long-term cooperation with Vietnam

Offshore wind power developer CIP seeks long-term cooperation with Vietnam

Copenhagen Infrastructure Partners (CIP), a major Danish renewable energy developer, is seeking to reach long-term cooperation with Vietnamese businesses in the offshore wind power sector.

Energy - Thu, March 27, 2025 | 4:16 pm GMT+7

Vietnam giant VinFast moves to expand EV service in Philippines

Vietnam giant VinFast moves to expand EV service in Philippines

VinFast, Vietnam’s largest electric vehicle (EV) manufacturer, has partnered with MGA.414 Corporation, the operator of the JIGA automotive service chain, to expand its EV service network in the Philippines.

Southeast Asia - Thu, March 27, 2025 | 3:48 pm GMT+7

Vietnam's MobiFone officially launches 5G services

Vietnam's MobiFone officially launches 5G services

MobiFone, one of Vietnam’s leading telecommunications providers, has officially commercialized its 5G services, becoming the third network operator in the country to do so.

Southeast Asia - Thu, March 27, 2025 | 3:45 pm GMT+7

Thanh Cong Group inaugurates first automobile manufacturing plant in Vietnam's Quang Ninh province

Thanh Cong Group inaugurates first automobile manufacturing plant in Vietnam's Quang Ninh province

Vietnamese automaker Thanh Cong Group officially inaugurated its Thanh Cong Viet Hung automobile manufacturing plant on Wednesday at the Viet Hung Industrial Park in the northern province of Quang Ninh.

Southeast Asia - Thu, March 27, 2025 | 3:32 pm GMT+7

Vietnam willing to open doors to US agricultural products: minister

Vietnam willing to open doors to US agricultural products: minister

Vietnam is actively preparing to open its market to U.S. agricultural products such as tangerine, plum, and lemon, Vietnamese Minister of Agriculture and Environment Do Duc Duy said on Wednesday.

Economy - Thu, March 27, 2025 | 3:08 pm GMT+7

S Korea chaebol Lotte eyes hypermarket in northern Vietnam

S Korea chaebol Lotte eyes hypermarket in northern Vietnam

South Korean conglomerate Lotte is eyeing projects in Thai Nguyen province, an industrial hub in northern Vietnam, firstly a hypermarket.

Industries - Thu, March 27, 2025 | 12:15 pm GMT+7

Dubai-based PDSI eyes $2.6 bln investment in tourism-golf course project in central Vietnam

Dubai-based PDSI eyes $2.6 bln investment in tourism-golf course project in central Vietnam

PDSI Group, a Dubai-based real estate and consulting firm, has expressed interest in developing a $2.6 billion commercial, tourism, and golf course complex in Binh Thuan, a south-central coastal province of Vietnam.

Real Estate - Thu, March 27, 2025 | 11:38 am GMT+7

S Korea's SK set to divest from Vietnam's giant Vingroup

S Korea's SK set to divest from Vietnam's giant Vingroup

South Korean chaebol SK Group is set to divest from Vietnamese conglomerate Vingroup, according to the former’s annual report 2024.

Companies - Thu, March 27, 2025 | 11:30 am GMT+7

StanChart adjusts USD/VND exchange rate forecast amid changing economic trends

StanChart adjusts USD/VND exchange rate forecast amid changing economic trends

Standard Chartered Bank has adjusted its USD/VND exchange rate forecast, reflecting shifts in global and regional economic conditions.

Economy - Thu, March 27, 2025 | 9:29 am GMT+7

Fund inflows help stabilize Vietnam's stock market: analyst

Fund inflows help stabilize Vietnam's stock market: analyst

As fund inflows are typically long-term investments, they play a key role in stabilizing Vietnam's stock market and preventing sharp fluctuations, according to Nguyen Duy Anh, Chartered Financial Analyst (CFA) at Vietcombank Fund Management Co., Ltd. (VCBF).

Finance - Thu, March 27, 2025 | 8:30 am GMT+7

VSIP begins work on industrial park project in northern Vietnam province Thai Binh

VSIP begins work on industrial park project in northern Vietnam province Thai Binh

Construction of the Vietnam-Singapore Industrial Park (VSIP) Thai Binh commenced on Wednesday in northern Vietnam, with the witness of Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong.

Industrial real estate - Wed, March 26, 2025 | 10:41 pm GMT+7

Vingroup starts building mega urban project in Vietnam's Mekong Delta

Vingroup starts building mega urban project in Vietnam's Mekong Delta

Vietnam’s leading private conglomerate Vingroup on Wednesday embarked on construction of the VND28 trillion ($1.1 billion) Vinhomes Green City, the first mixed-use urban development in its ecosystem in the Mekong Delta province of Long An.

Real Estate - Wed, March 26, 2025 | 10:11 pm GMT+7

Indonesia, China cooperate in digital technology

Indonesia, China cooperate in digital technology

Indonesia and China are expanding cooperation in the field of AI to promote digital transformation, especially in the fields of agriculture and smart cities.

Southeast Asia - Wed, March 26, 2025 | 10:01 pm GMT+7

Indonesia decides to join BRICS New Development Bank

Indonesia decides to join BRICS New Development Bank

Indonesian President Prabowo Subianto has announced the Government's decision to become a member of the New Development Bank (NDB), a multilateral development bank established by the five founding member states of the BRICS group.

Southeast Asia - Wed, March 26, 2025 | 9:57 pm GMT+7

Major Vietnamese broker SHS to double charter capital

Major Vietnamese broker SHS to double charter capital

Saigon-Hanoi Securities Corporation (SHS) plans to issue 894 million shares to increase its charter capital from VND8.13 trillion to VND17.07 trillion ($667.6 million), making it one of the top three securities firms in term of charter capital.

Companies - Wed, March 26, 2025 | 8:30 pm GMT+7