Vietnamese shoes cannot compete on price with Chinese products, but on the contrary, their quality is durable, which will be an advantage to gain market share in Vietnam, said Vuu Le Quyen, CEO of Biti's, a major footwear brand in Vietnam.
"The present shoe market is dominated by Chinese shoes, which have the advantage of being inexpensive and available online," Quyen told an event in Ho Chi Minh City last Saturday.
"In terms of pricing, Biti's cannot compete with Chinese products. On the contrary, we prioritize durability. In reality, this is our most significant advantage, and our goal is to create goods that help clients’ shoes survive as long as possible. If customers want to modify their style and purchase new shoes, they can pass their old pairs on to someone else," she added.
Quyen said that Biti's is focusing on developing its people and constructing a happy working environment, which is important to producing sustainable products that fulfill ESG requirements. "Along with that, Biti’s’ products adhere to the circular economic cycle."
The introduction of Biti's FitCare orthopedic insoles for flat feet in children is one of the first steps toward dominating the domestic market, Quyen claimed. The design of this product is coordinated by Biti’s and chiropractic physical therapy expert Wade Brackenbury from America.
According to Brackenbury, the medical profession has recently identified flat feet as a very frequent illness in children aged three to eight in Southeast Asian countries, particularly Vietnam.
Biti's has a goal to expand internationally, with Biti’s products already sold to Europe, mostly the UK, China, and Cambodia. Exports currently account for 30% of the company's overall sales.
"Although Chinese goods are flowing into Vietnam, Biti's Eva shoes are also doing quite well in China. Shipments to China now account for 10% of Biti's overall revenue," Quyen added.