Vietnam - Home Furnishings
Although growth so far this year has slowed slightly, the industry is optimistic of surpassing revenue generated in 2012. This is mainly because of strong demand for home textiles and bedding in traditional and emerging destinations. Ceramics is another segment with considerable potential for expansion, especially with the US becoming its fastest-growing market in the first half of 2013.
The sector benefits from a number of strengths. One of these is lower production costs compared with those in other supply zones in Asia.
This report focuses on the main types of home furnishings from Vietnam – home textiles, bedding and home accents.
This Vietnam Sourcing Report is part of the Developing Country Sourcing Report series designed to provide buyers with information on new products from export manufacturers in Southeast Asia that specialize in handmade merchandise.
Global Sources is offering Developing Country Sourcing Reports as part of its corporate social responsibility undertakings in partnership with the Hinrich Foundation, a philanthropic development organization whose mission is promoting sustainable global trade.
What you'll get
- In-depth profiles of 18 major suppliers with a comprehensive look at their product and pricing strategy, manufacturing and export capability, verified contact details, and more – this information is not available anywhere else
- 253 full-color images that depict popular export models of baby & children’s wear and fashion accessories complete with product descriptions, prices, minimum order requirements and delivery times
- Verified supplier contact details of an additional 20 exporters, including names, e-mails, telephone numbers, websites and key products
- Supplier information in tabular format to help you compare suppliers at a glance
- Results of the custom-designed supplier survey, which forecasts industry trends for the next 12 months
- An extensive overview of the industry discussing the main challenges facing suppliers
- An in-depth examination of the supplier base highlighting key characteristics of the different types of companies
- Details of the primary production centers
- An update of the latest trends in design, R&D, materials and components
- A review of the key factors that influence the price and quality of low-end, midrange and high-end products
- Comprehensive pricing tables featuring export price ranges
Key findings
Objective, methodology & scope
INDUSTRY OVERVIEW
Export value
Export markets
Products & prices
Production & export statistics
Typical parts & components
Price guides
Supplier survey
Export prices
Export sales
Export markets
Major challenges
R&D focus
SUPPLIER PROFILES
Supplier matrix: Comparison of supplier location,
sales revenue & export capability
Profiles of 19 verified suppliers
PRODUCT GALLERY
Home textiles
Bedding
Home accents
CONTACT DETAILS
Vietnam’s home furnishings line is on a steady growth track, buoyed by a robust handicrafts segment. National policies aimed at strengthening fiscal controls have helped offset the trade deficit in recent years. With the government shifting focus from macroeconomic development to domestic stabilization, overall exports are picking up, rising 18 percent in 2012.
Foreign buyers now turn to the country for goods sourced previously from China and India. Last year, the shift infused an additional $100 million into the industry, according to the Vietnam Handicraft Exporters Association or Vietcraft.
Vietnam’s handicrafts segment has overtaken that of India and is now Asia’s second-biggest after China. Low production costs and a stable supply of environment-friendly materials are some of its competitive advantages.
Exports
The growth of Vietnam’s handicrafts industry slowed to 7 percent in the first seven months of this year due to the residual effects of the global economic crisis. Despite the drop, total overseas sales are likely to exceed $2.5 billion by yearend.
Home furnishings are part of the broader handicrafts industry. The former encompasses several product segments including household textiles and bedding, which is the sector’s highest earner. The line registered $800 million in total foreign revenue last year.
Japan is the main market, as it accounts for 20 percent of exports. The US and South Korea each absorb 10 percent.
Ceramics is another product category within the industry. It generated $440 million in overseas revenue last year, which is 19 percent higher than the previous period. In the first seven months of 2013, foreign sales climbed approximately 6 percent, reaching $255 million.
The lack of industry-wide design and technology development initiatives is likewise hindering the line’s expansion.
Suppliers in Vietnam admit to a shortfall in innovation and an inability to keep abreast of international trends. As such, the range of designs is limited and primarily dictated by traditional and native styles.
