Vietnam: handbag exports exceed $1billion
The Vietnamese leather industry exported handbags worth more than $1 billion in 2011, according to the Vietnam Leather and Footwear Association (Lefaso).
Handbags are among the 26 items exported by the Vietnamese leather industry.
However, the handbag exports have come from foreign direct investment companies. Lefaso is now targeting a 30% export sales from domestic handbag manufacturing companies over the next few years.
In 2011, 25 million handbags were sold in Vietnam’s domestic market, of which, about 15 million were manufactured by domestic companies.
Lefaso has said that eight well-known companies are planning to shift their production base from China to Vietnam to meet the growing global demand in the sector.
Lefaso has set a target of $1.5 billion for handbag exports in 2012.
