Vietnam remains biggest manufacturer of Nike products
Vietnam was Nike’s biggest manufacturer for the second fiscal year running, according to the American athletic footwear and apparel corporation’s report for fiscal year 2024 ending May.
Nike’s contract manufacturers operate 96 finished goods footwear factories in 11 countries. Vietnam accounted for 50% of total Nike brand footwear, followed by China and Indonesia with 27% and 18%, respectively.
Vietnam’s portion was unchanged from fiscal year 2023, the report said.
A Nike store in Hanoi. Photo courtesy of Nike.
For apparel, Nike’s contract manufacturers operated 291 finished goods factories in 31 countries. Factories in Vietnam produced 28% of the total, the biggest figure among all the nations. Other leading apparel manufacturers for Nike were China and Cambodia with 16% and 15%, respectively.
Vietnam’s figure fell from 29% in fiscal year 2023.
Footwear and apparel are key export products for Vietnam. The country’s total exports rose 15.7% year-on-year to $226.98 billion during January-July 2024, up 14.5% from January-June.
Footwear accounted for $12.92 billion, up 10.1% year-on-year. It was the fifth-biggest figure behind electronics, computers and components; phones and components; machinery and equipment; and apparel.
Apparel came in fourth with $19.87 billion, up 4.2% year-on-year.
- Related News
- Read More
Vietnamese EV maker VinFast halves losses in H1
VinFast, the electric vehicle arm of Vietnam's largest private conglomerate Vingroup, recorded post-tax losses of VND9,068.3 billion ($367 million) in H1/2024, half the loss it posted in the same period last year.
Companies - Mon, September 9, 2024 | 3:35 pm GMT+7
Gaming silver lining in dark financial cloud for Vietnam’s first tech unicorn VNG
VNG Corporation, Vietnam’s first tech unicorn, has suffered continuous losses in recent years with revenues from its online gaming segment not enough to offset losses from other business areas.
Companies - Mon, September 9, 2024 | 2:59 pm GMT+7
Ten vehicles fall into river, 13 people missing as bridge collapses in northern Vietnam
At least 10 vehicles and two motorbikes plunged into the Red River when Phong Chau bridge in the northern province of Phu Tho collapsed on Monday morning, amid serious downpours triggered by super typhoon Yagi.
Society - Mon, September 9, 2024 | 1:30 pm GMT+7
Thailand’s Super Energy records $57.4 mln revenue from Vietnam in H1
Thailand’s Super Energy Corporation recorded a revenue of THB1,936 million ($57.4 million) from its renewable energy activities in Vietnam in the first half of this year, according to the firm’s report.
Companies - Mon, September 9, 2024 | 10:49 am GMT+7
Sales of Samsung's 4 major Vietnam plants up in H1, but profits fall
Four Vietnamese subsidiaries of South Korean giant Samsung Electronics reported combined revenues of KRW42,017.3 billion ($31.38 billion) in the first half of 2024, up 8.6% year-on-year, but post-tax profits decreased 2% to KRW2,939.7 billion ($2.2 billion).
Companies - Mon, September 9, 2024 | 8:07 am GMT+7
Super typhoon Yagi, floods cause at least 21 deaths in northern Vietnam
Yagi that made landfall in northern Vietnam on Saturday and floods after the super typhoon have claimed at least 21 lives and left nearly 230 others injured.
Society - Sun, September 8, 2024 | 9:35 pm GMT+7
Vietnam real estate sector may start revival in H2, continue through 2026: broker
Vietnam’s real estate market could start recovering in the second half of this year and continue to revive until 2026, driven by new real estate laws and lower mortgage rates, says a report by Shinhan Securities Vietnam.
Real Estate - Sun, September 8, 2024 | 7:40 pm GMT+7
Vietnam’s 2024 credit growth target of 15% attainable: official
The State Bank of Vietnam (SBV), the country's central bank, is confident in achieving the credit growth target of 15% this year despite a sluggish start, SBV Deputy Governor Dao Minh Tu said, citing a more optimistic economic outlook.
Banking - Sun, September 8, 2024 | 4:20 pm GMT+7
Singapore firm to deploy $80 mln freeze-dried instant coffee project in central Vietnam
Future Enterprises Pte. Ltd, a subsidiary of Singapore-based Food Empire Holdings Group, has been licensed to build a freeze-dried instant coffee plant with an annual capacity of 5,400 tons in the central province of Binh Dinh.
Industries - Sun, September 8, 2024 | 1:33 pm GMT+7
Vietnam art market dominated by Vietnamese buyers a collector’s dream come true
Ten years after I wrote an article titled "Playing and buying paintings," the Vietnamese art market has evolved significantly.
Travel - Sun, September 8, 2024 | 11:04 am GMT+7
Vietnam outbound investment shrinks 64.6% to $147 mln in Jan-Aug
Outbound investment by Vietnamese companies dropped 64.6% year-on-year to $147.3 million in the first eight months of this year, according to government data.
Industries - Sun, September 8, 2024 | 9:58 am GMT+7
Super typhoon Yagi kills at least 8 in northern Vietnam
Super typhoon Yagi has claimed at least eight lives and left nearly 200 others injured after making landfall in northern Vietnam on Saturday.
Society - Sun, September 8, 2024 | 9:47 am GMT+7
Vietnamese SMEs can make products with global appeal: Amazon exec
Made-in-Vietnam products that appeal to global consumers can come from small and medium-sized enterprises (SMEs), not necessarily large companies, says Natalie Thuan Ngo, head of business development, Amazon Global Selling Vietnam.
Economy - Sun, September 8, 2024 | 7:55 am GMT+7
Super typhoon Yagi devastates Hanoi
Typhoon Yagi made landfall in Hanoi on Saturday evening, bringing powerful winds of 89-102 km per hour and heavy rainfall. The storm caused widespread flooding and downed numerous trees.
Southeast Asia - Sat, September 7, 2024 | 10:17 pm GMT+7
Vietnam finance ministry urged to seek $4 bln of bonds for strategic infrastructure development
The Vietnamese Ministry of Finance has been requested to mobilize another VND100 trillion ($4.06 billion) worth of bonds for strategic infrastructure development.
Economy - Sat, September 7, 2024 | 7:14 pm GMT+7
FTSE Russell adds three Vietnam tickers to flagship index
Global index provider FTSE Russell has added three Vietnamese stocks to its FTSE Vietnam Index, the underlying index of the FTSE Vietnam ETF.
Finance - Sat, September 7, 2024 | 5:08 pm GMT+7
