The Trans-Pacific Partnership might be dead, but Vietnam remains a strong second to China on the sourcing landscape.
Experts on Vietnam’s manufacturing capabilities, speaking on a panel at Sourcing at Magic in Las Vegas, agree they were disappointed that the U.S. pulled out of TPP and that Vietnam’s momentum was impacted, but they insisted that the country is still a major player on the global apparel and textile production scene.
Sheng Lu, assistant professor for fashion and apparel studies at the University of Delaware, presented the results of a study he conducted with the U.S. Fashion Industry Association that showed Vietnam was the second most sourced country after China, with 88 percent of respondents saying they manufactured there.
Lu said the study showed that the most popular sourcing strategy right now is “China Plus Vietnam Plus Many,” meaning that global manufacturing is becoming more diversified. The country was rated as the most competitive supplier and one of the most balanced, with a combination of price and speed to market capability, he noted.
Read more at Sourcing Journal.