Vietnamese handbag makers are confident they’ll produce more than $1.5 billion worth of purses this year, which is equivalent to a record increase of 15% on last year’s results.
Vietnam’s Leather and Footwear Association Lefaso suggests its country’s handbag producers can produce 200 million units year, so it’s confident they will reach their current target. And with exports to the United States, its largest market, jumping to $71.6 million in the first two months of the year it seems there’s definitely a demand for all those accessories.
Vietnam is becoming a key handbag producer as more global fashion houses relocate their manufacturing arms to the nation.
And it seems the only way for the industry is up. Fashion forecasters suggest the Vietnamese handbag production houses will ship 30% more goods over the next few years.
It’s not all good news though. Many Vietnamese companies lack the financial resources, facilities, equipment, raw materials, and skilled staffers they need to meet their international obligations. Currently they’re reliant on other foreign firms, although Lefaso hopes in time Vietnamese producers will take charge of their own designs and create their bags entirely in house. At that time surely the country will become a fashion force to be reckoned with!
