BUSINESS PLAN FOR STARTING UP A FASHION BUSINESS IN VIETNAM

Abstract

The industry’s manufacturing and exporting activities are the main focus contributing considerably to the nation’s total manufacturing exports and economic growth. Among exporting countries, China and India are the world’s largest exporters of Textiles and Apparels. Since 2012, Asian countries have reached the rebalance in the two activities, and started to shift toward the other developing countries in the same region. In 2013, Vietnam ranks second in the global textile and apparel industries with US$17.9bn and has been projected to achieve export value of US$55bn by 2025. The Vietnamese tend to be more highly aware of consuming fashion and their spending habits on fashion have been on the rise. The main objective of this thesis is to research on the current situation of Vietnamese textile and apparel market to highlight significant characteristics and competitive advantages. Based on collected research data, a business plan for starting up a fashion business is came up to fulfill needs of Vietnamese consumers.