Vietnamese handbag exports exceed $1 billion

Exports of Vietnamese-made leather handbags are expected to total $1.5 billion during 2012.

The Vietnamese Ministry of Industry and Trade intends to view handbag exports as a separate commodity within leather industry figures, after overseas sales passed the $1 billion mark during 2011.

Leather is a key export item that brings foreign currency into the country, and leather handbags, wallets and suitcases help to deliver considerable profits to companies in the leather export industry. During 2012, exports of Vietnamese-made leather shoes are expected to reach $7 billion, with overseas sales of handbags totalling some $1.5 billion.

The Vietnam Leather and Footwear Association (Lefaso) reported last year that the Vietnamese bought about 25 million handbags, cases and rucksacks, of which 15 million were manufactured by local firms.
To date, the majority of exported handbags have been manufactured by foreign direct investment companies located in Vietnam. Lefaso is, therefore, hoping for 30 per cent of handbag exports to be made by Vietnamese-owned companies within a few years.

Publishing Data

This article was originally published on page 4 of the March 2012 issue of SATRA Bulletin.

Other articles from this issue »

---