In July, w88 link w88 moi nhat Vinatex Fashion Product Development and Business Center (Vinatex PD&B) officially begins operations. This is one of w88 link w88 moi nhat new sectors within w88 link w88 moi nhat operational model of w88 link w88 moi nhat Vinatex Fashion Center. On this occasion, Vietnam Textile-Garment and Fashion had an interview with Mr. Vuong Duc Anh, Director of w88 link w88 moi nhat Vinatex Branch – PD&B.
*Congratulations on w88 link w88 moi nhat official launch of w88 link w88 moi nhat Vinatex Fashion Product Development and Business Center. Could you please share w88 link w88 moi nhat objectives behind w88 link w88 moi nhat establishment of w88 link w88 moi nhat Center in w88 link w88 moi nhat current phase?
Aligning with Vinatex’s strategic vision approved by w88 link w88 moi nhat Annual General Meeting of Shareholders, w88 link w88 moi nhat objective is to become a leading destination capable of providing comprehensive green fashion solutions for corporate customers in w88 link w88 moi nhat global textile and garment supply chain by 2030. This includes becoming w88 link w88 moi nhat leading destination in Vietnam and w88 link w88 moi nhat region. In w88 link w88 moi nhat medium term, w88 link w88 moi nhat goal is to become an all-in-one destination for common-knitted products. w88 link w88 moi nhat establishment of w88 link w88 moi nhat Vinatex PD&B Center is w88 link w88 moi nhat necessary condition to realize w88 link w88 moi nhat strategic goal of becoming “a one-stop destination” and forming a strong knitted textile supply chain.
w88 link w88 moi nhat establishment of w88 link w88 moi nhat Center also aims to leverage and enhance w88 link w88 moi nhat existing advantages in scale and reputation of w88 link w88 moi nhat Group. With a spinning capacity of 190,000 tons per year, a knitting capacity of 25,000 tons per year, a weaving capacity of 170 million meters per year, and over 100 garment factories nationwide producing more than 400 million products per year, Vinatex has w88 link w88 moi nhat necessary conditions to connect and form a closed supply chain from spinning, weaving, dyeing, finishing, to garment manufacturing. This distinguishes Vinatex from w88 link w88 moi nhat majority of other textile and garment factories in w88 link w88 moi nhat country, which are mainly pure garment enterprises.
w88 link w88 moi nhat lessons learned from COVID-19 and w88 link w88 moi nhat past two years indicate that when global textile demand decreased by nearly 30% compared to pre-pandemic levels, w88 link w88 moi nhat business model of w88 link w88 moi nhat global textile garment industry underwent significant changes. Buyers now tend to seek suppliers capable of providing “added value” with integrated supply chains and comprehensive services that meet their requirements quickly, conveniently, and accurately. They aim to become collaborative partners rather than just simple processing factories. It is required that manufacturers undergo qualitative changes, building teams and operational systems that meet new customer requirements, and Vinatex is no exception. w88 link w88 moi nhat establishment of w88 link w88 moi nhat PD&B Center is a qualitative change in building a market development team, developing new products, and creating Vinatex’s product brand.
* How does w88 link w88 moi nhat Center operate in terms of model and methods, sir?
w88 link w88 moi nhat Vinatex PD&B Center has built a team and modern facilities meeting international standards, following green and sustainable trends. w88 link w88 moi nhat Center’s building has achieved w88 link w88 moi nhat Gold Lotus green building certification, aligning with w88 link w88 moi nhat Group’s strategy to achieve net-zero emissions. w88 link w88 moi nhat Center primarily focuses on developing FOB, ODM, and OBM products for both export and domestic markets. It is fully equipped to provide comprehensive solutions to customers from w88 link w88 moi nhat design (including 3D design), selecting materials with a showroom and diverse fabric library. w88 link w88 moi nhat standard and creative studio supports customers in sample development, pricing, sample sewing, fitting, and managing production orders at factories. w88 link w88 moi nhat quality control lab is equipped to meet customer requirements for developing new products.
By partnering with w88 link w88 moi nhat Vinatex PD&B Center, customers receive comprehensive product development solutions based on w88 link w88 moi nhat principle of “Harmonized Benefits – Shared Risks.
*What is your assessment of w88 link w88 moi nhat current demand for w88 link w88 moi nhat knitted textile sector in w88 link w88 moi nhat domestic and global markets? What are Vinatex’s development goals for w88 link w88 moi nhat knitted textile sector?
In w88 link w88 moi nhat global demand for textiles and garments, knitted products usually account for 50%, being a highly competitive, low-cost, and easy-to-produce segment. Competitors like Bangladesh and India have price advantages, but we have identified that w88 link w88 moi nhat advantage of linking w88 link w88 moi nhat knitted textile chain will allow us to “win” in terms of delivery speed and product quality. This is because we can control quality from raw materials to finished fabric. Additionally, we can comply with w88 link w88 moi nhat rules of fabric-forward or even yarn-forward when exporting to Europe and CPTPP member countries, benefiting from a 0% import tax rate. This is a unique advantage of Vinatex when leveraging our internal chain linkage.
Additionally, we are confident because w88 link w88 moi nhat “Made in Vietnam” brand is distinct from “Made in Bangladesh, Pakistan, India, etc.” Buyers always have a certain “room” in their purchasing basket for sourcing and producing knitted products in Vietnam. w88 link w88 moi nhat key is knowing how to approach and leverage this “room” with customers.
w88 link w88 moi nhat effectiveness of orders is determined by w88 link w88 moi nhat final garment product, rather than evaluating w88 link w88 moi nhat effectiveness separately for yarn or fabric stages.
Our goals for knitted fabric production capacity are to double every five years, with w88 link w88 moi nhat following targets:
50% of w88 link w88 moi nhat output using internal yarn from member units
50% of knitted fabric is used in w88 link w88 moi nhat garment sector within member units, producing 50 million garments per year.
*Could you share w88 link w88 moi nhat initial steps of w88 link w88 moi nhat center after w88 link w88 moi nhat official launch?
We are committed to a scientific and receptive approach, listening and learning from w88 link w88 moi nhat operational experiences of member units to choose and apply w88 link w88 moi nhat most suitable and effective methods for w88 link w88 moi nhat Center’s operations.
Establishing a close linkage between w88 link w88 moi nhat Center and w88 link w88 moi nhat factory system at member units, to become “one”, to enhance w88 link w88 moi nhat overall operational efficiency of w88 link w88 moi nhat system. w88 link w88 moi nhat linkage needs to be standardized using a common language, ensuring smooth communication and prompt response.
Combining a team of experienced and creative young people to drive w88 link w88 moi nhat Center to operate effectively from w88 link w88 moi nhat beginning.
Leveraging shared resources to develop both w88 link w88 moi nhat export and domestic markets, building on w88 link w88 moi nhat existing retail distribution system, and expanding new sales channels, under Vinatex’s brands.
* What are your expectations for w88 link w88 moi nhat operations of w88 link w88 moi nhat Vinatex PD&B Center? To build trust with customers and establish a comprehensive supply chain for corporate clients, what values do you believe w88 link w88 moi nhat Center should aim for?
Through market research, we believe that w88 link w88 moi nhat global fashion textile and garment market will always recover after w88 link w88 moi nhat quiet phase of w88 link w88 moi nhat global economy. According to reputable organizations, Vietnam remains a country with w88 link w88 moi nhat potential to develop w88 link w88 moi nhat fashion textile garment industry over w88 link w88 moi nhat next decades. This market always has room for growth for enterprises with w88 link w88 moi nhat right strategies, superior productivity and quality, tightly knit and professional supply chain linkages, and w88 link w88 moi nhat ability to find a unique path that meets w88 link w88 moi nhat new demands of w88 link w88 moi nhat digital economy and green economy with appropriate steps.
We expect that w88 link w88 moi nhat Center will open up a new direction in R&D products in w88 link w88 moi nhat future, connecting textile-garment enterprises in a closed chain built on w88 link w88 moi nhat reputation and quality of products. In w88 link w88 moi nhat immediate future, we focus on finding and developing new customers and new orders, based on close links with w88 link w88 moi nhat market and technical departments at factories, to respond quickly to customer requirements from w88 link w88 moi nhat first interactions.
It’s w88 link w88 moi nhat first step that counts. To build trust with customers, I believe that firstly, we must build trust with our leadership and member units through sincerity, receptiveness, determination, and scientific methods, to leverage w88 link w88 moi nhat collective strength of w88 link w88 moi nhat entire system.
This is a new and unique mission, in w88 link w88 moi nhat uncertain market. w88 link w88 moi nhat Center hopes to receive w88 link w88 moi nhat guidance and support of w88 link w88 moi nhat Group’s leadership, w88 link w88 moi nhat Group’s departments, and w88 link w88 moi nhat enterprises within w88 link w88 moi nhat Vinatex system. This will allow us to have a solid foundation to fully utilize our capabilities, creativity, and efforts to find appropriate directions in w88 link w88 moi nhat R&D and fashion business.
Thank you!
