According to statistics from Vietnam Customs, the export revenues of suitcases, handbags and umbrellas in the first five months of the year reached US$744.58 million, up 22.22 percent against the same period last year. The total turnover of these products was only US$1.518 billion in 2012 and US$1.33 billion in 2011.  

Vietnam’s leading handbag importer was the US (US$317.63 million), followed by Japan (US$93.28 million), Germany (US$54.53 million), Belgium (US$40.93 million), the Republic of Korea (US$28.01 million), France (US$23.32 million), Holland (US$22.11 million), China (US$18.7 million), the UK (US$17.1 3million), Canada (US$13.8 million), Spain (US$12.02 million) and Italy (US$11.04 million).

Besides these major markets, the handbag sector saw a sharp increase of export turnover in Hong Kong (up 56.76 percent), Sweden (up 56.14 percent), Malaysia (55.27 percent), and Thailand (54.66 percent).

The Vietnam Leather and Footwear Association (Lefaso) has set a target of US$1.7 billion in briefcase and handbag revenue this year and expects an export growth rate of 30 percent in the coming years.

The demand for made-in Vietnam handbag is growing, even for those bearing popular brand names such as Mitti, Hams, and Mr Vui.

For example, Thai Binh Shoes is one of the leather and footwear companies which have quickly seized export opportunities. With a total investment capital of US$10 million, the company has invested in building garment workshops and a factory to produce handbags for Coach Company to export to the US.

Nguyen Duc Thuan, President of Lefaso, said that eight out of ten global handbag brand names have transferred their orders to Vietnam. This is a good opportunity for Vietnamese enterprises to enhance their international prestige.

In the past, FDI enterprises produced the bulk of handbag exports. Two years ago, domestic businesses began to get involved in the sector. Since 2011, which saw the highest export turnover of US$1.33 billion, the handbag, suitcase, umbrella and wallet producers have succeeded in earning more than US$1 billion in revenue a year.

According to Lefaso, the domestic demand for handbags and knapsacks rose 25 million units last year. But only 15 million products were made of local materials. For luxury handbags, Vietnam still depends on imported materials. And, for this reason, many domestic businesses are now focused on producing backpacks and shoes for pupils at a reasonable price.

VOV