Vietnam is a key emerging market for Australian Wool
- By: "Farm Tender" News
- Ag Tech News
- Jul 03, 2018
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The Woolmark Company has hosted the Merino Wool Awareness Day in Hanoi, Vietnam with more than a hundred industry experts attending.
Considering Vietnam as a key emerging market, The Woolmark Company – Australian Wool Innovation’s marketing arm – has worked in the Vietnamese market for five years, witnessing the country’s growing interest in the use of natural fibres and its potential for production of quality wool product, as the country’s economic and social environment evolves.
The Merino Wool Awareness Day hosted international and local experts, experienced designers, suppliers and manufacturers in the textile and garment industry.
The event highlighted the benefits of Merino wool and provided guidance on how to access and process the fibre in innovative ways, as well as giving domestic companies an opportunity to showcase their wool products and connect with more than 80 supply chain brands in Vietnam. Executives from The Woolmark Company provided a comprehensive overview of the company, its world renowned International Woolmark Prize, the benefits of Australian Merino wool, and textile innovations using the fibre. The participants also had a unique opportunity to learn valuable lessons from experienced experts from leading brands in Vietnam and across the world such as Canifa, Ivy Moda, Fixxed Studios and Appeal Korea.
“As the global authority on Australian Merino wool, The Woolmark Company has been working towards developing a sustainable supply chain in Vietnam,” said Mr John Roberts, General Manager Eastern Hemisphere of The Woolmark Company. “We launched the ‘Out of Vietnam’ project in June 2012, aimed at developing new manufacturing supply chains for wool products, and we have now established collaborations with more than 80 partners in the country.
“Our heritage in wool research and development together with Vietnam’s solid background in the textile industry make a perfect combination that promises high quality and sustainable ‘Grown in Australia - Made in Vietnam’ wool products, as well as a strengthening partnership between the two economies.”
Having established its foothold in the market for more than five years, The Woolmark Company considers Vietnam a highly valuable potential market. The country’s political and social stability, established textile manufacturing infrastructure, abundance of a skilled and low-cost labour force as well as a reliable water and electric supply, and the country’s accessibility to numerous FTAs and cross-borders partnerships make Vietnam an important market for Australian wool.
Ms Ngoc of Canifa, a large Vietnam-based retailer and attendee on the day said, “I definitely believe that our relationship [with the Australian wool industry] will continue growing in the near future. Sustainable fashion has been and will be the trend as customer perception increases.”
The textile and garment industry has long been Vietnam’s key economic sector. The industry employs more than 2.7 million people in the country, equivalent to 25% of the industrial workforce and is the second largest export earner in the manufacturing sector. Accounting for 17% of world apparel exports in 2017, Vietnam’s textile exports have steadily grown to USD31.1 billion in 2017 from the modest USD1.35 billion in 1998, listing the country among the world’s top 5 textile exporters.
Picture - The Woolmark Company’s John Roberts presenting at the Merino Wool Awareness Day held in Hanoi, Vietnam
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