Foreign brands up the ante in fashion market Business

Foreign brands up the ante in fashion market

The competitive pressure exerted on domestic fashion firms by the increasing presence of world renowned brands is unavoidable, but it could have positive impacts in the long run, experts said.

Domestic garment sales soar

Several HCM City garment companies have reported healthy results by accessing domestic markets, in response to dropping export revenues, according experts.

Despite adverse impacts from the global economic downturn, total sales of garment products in the domestic market in the first eight months of the year increased by 25 percent compared to the same period last year, according to a report in Sai Gon Giai Phong newspaper.