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World’s retail giants eager to buy five groups of Vietnamese products

World’s retail giants eager to buy five groups of Vietnamese products

Sunday, April 21, 2024, 16:00 GMT+7
World’s retail giants eager to buy five groups of Vietnamese products
This image shows business representatives taking part in the Vietnam International Sourcing 2023 at the Saigon Exhibition and Convention Center in Ho Chi Minh City on September 13-15, 2023. Photo: H.K. / Tuoi Tre

Many leading global retailers and distributors about to join the Vietnam International Sourcing 2024 has paid special attention to various Vietnamese products in five key groups that will be featured in the event slated for June, the organizing board said recently.  

Hosted by Vietnam’s Ministry of Industry and Trade (MoIT) in conjunction with the Ho Chi Minh City administration, the Vietnam International Sourcing 2024 will take place at the Saigon Exhibition and Convention Center in District 7 on June 6-8.

The event, which aims to promote direct links between Vietnamese manufacturers and exporters with foreign retailers, distributors, and importers, is expected to attract around 10,000 participants, including 300 international delegations from 30 countries and territories, according to the Vietnam News Agency.

The event will gather retail and distribution giants from the U.S., Canada, Australia, France, the UK, Germany, Sweden, Italy, Japan, Russia, Mexico, Chile, South Korea, China, Thailand, India, and Venezuela, among others, said the European-American Market Department under the MoIT.

According to the organizing board, the foreign traders are making detailed lists of five product groups they expect to buy at the Vietnam International Sourcing 2024, including foods; garments, textiles, fashion accessories; shoes, bags, and luggage; sports and outdoors; and household goods and home decor.

The event is expected to have 500 booths showcase over 10,000 export-qualified product lines in these five groups of products.

Chile-based Falabella, the largest retailer in the Latin American region, with 577 stores and shopping centers in many countries, is looking to expand their scope of purchase from Vietnamese suppliers to such product lines as textiles, footwear, sporting goods, and home electrical appliances, according to the department. 

After participating in the same event last year, Falabella has been successful in finding its suppliers in Vietnam and has thereby provided ‘made in Vietnam’ products directly to 35 million regular customers in its store systems.

Mexico's retail giant Coppel Group has shown special interest in buying Vietnam’s clothes, shoes, technology accessories, and household furniture to diversify its supply sources for its 1,600 branches in Mexico and 27 stores in Argentina, the department said.

Venezuela’s Latiquim C.A Group, which has emerged as a leading manufacturer and distributor of chemicals for the food and beverage industry in the Venezuelan market, is seeking long-term partners in Vietnam, especially in the field of sulfonic acid and phosphoric acid production.

U.S.-based Walmart Group has been committed to purchasing diverse goods at the Vietnam International Sourcing 2024, from textiles and garments to frozen foods, to serve the needs of consumers in various markets. 

Nguyen Duc Trong, head of Walmart’s new supplier development department in Vietnam, told Tuoi Tre (Youth) newspaper that the country is one of the major suppliers of diverse goods for the firm in Southeast Asia, including electronics, textiles, footwear, interior and exterior goods, household items, toys, and frozen foods.

Last year, Vietnam supplied goods worth about US$7 billion to the Walmart system with more than 10,500 supermarkets in 19 countries around the world, Trong said.

Japanese retail behemoth AEON has said that it will send procurement groups from Japan, China, and Malaysia to Vietnam to attend the Vietnam International Sourcing 2024, according to the Vietnam News Agency.

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Vinh Tho - Nhu Binh / Tuoi Tre News

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