From March 11-14, the Vietnam International Furniture & Home Accessories Fair (VIFA) 2012 was held in Ho Chi Minh City, Vietnam in the Saigon Exhibition and Convention Center. The fair drew in approximately 8,500 visitors to view 100 vendor displays. Organized by the Handicraft and Wood Industry Association of HCMC, the Fair was a showplace for Vietnamese produced products and companies.
“As a majority of the product produced in Vietnam is for companies in Demark and the Netherlands, the feel of the fair “wares” was definitely Scandinavian in nature,” said Gary Pettitt, president Seasonal Living, Austin, TX. “The VIFA show differed from our last stop at the Singapore IFFS show, as this was a truly domestic presentation as opposed to an international furniture fair.”
SHOW FACT: Setting the stage for the show was the fact that Vietnam now boasts macro-economic
and political stability, relatively low production cost and an adaptable and young work force. These factors have
made the country an attractive sourcing destination and an excellent
production center for furniture and decorative accessory production.
The show setting was a fitting one as recent estimates indicate that Vietnam has more than 2,500 small and medium sized companies working in the wood processing sector. The vast majority of these companies specialize in furniture and decorative accessory manufacturing with approximately 600-700 companies dedicated solely to the international export market. Global exports of furniture and decorative accessories reached nearly four billion U.S. dollars in 2011, with a staggering 1.4 billion to the U.S. alone.
Vietnam has become one of ASEAN’s leading furniture exporter and one goal of VIFA 2012 was to show the powerful furniture industry of the nation. Included during the trade show dates were tours of showrooms located at the factory sites of 20 leading manufacturers.
VIETNAM FACT: Vietnam is a country with its challenges… as a densely-populated developing country; it has spent the last 30 years recovering from the ravages of war, the loss of financial support from the old Soviet Block and the rigidities of a centrally-planned economy.
Although bedroom, living and dining furniture, wooden case goods remain a core strength of the Vietnamese export, Vietnam has also been a significant producer of outdoor furniture, ceramics and other outdoor decorative accessories. Examples of these outdoor living products were on display throughout the trade show floor.
Three Outdoor Furnishing trends from the VIFA:
1. Mixed material outdoor furniture: This year VIFA introduced its first outdoor display space. The trend in outdoor furniture was solid wood products combined with metals and/or woven fabric. The “mixing” trends are growing in popularity among U.S. buyers. Suppliers who find unique ways to combine materials can turn a basic furnishing or home accessories piece into a very attractive product for the market.
2. Natural materials for home accessories: Most home accessory products at the 2012 show comprised natural materials like rattan, bamboo, water hyacinth, sea grass, mother of pearl and shell.
3. There was on display furnishings exhibiting the growing use of Acacia wood vs. teak, due in part to the rising cost of teak wood.
4. There was also an increased presence of polyethylene/synthetic wood furniture. Instead of natural woods, synthetics are gaining acceptance due to durability and pricing.
5. There was also evidenced a move away from traditional to the clean line – more mid-century – furniture stylings.
6. Although limited, the show was not without some innovation as the combining of ceramic glazes into concrete exhibited.
Vietnam Fact: Country’s Population is approximately 91 million and the median age is 25 – 27 years old. This young age demographic is a promising advantage for Vietnam given the decreasing birth rates in other Asian countries and industrialized nations.
About Ho Chi Minh City – The home of the VIFA.
While Vietnam is a vibrant and growing country, the bulk of commerce is driven through Ho Chi Minh City located in southern Vietnam. Traces and remnants of French colonization are still evident. Strongly evident is a French attitude towards dining and eating out, relaxing in sidewalk cafes and enjoying an evening over beautiful Vietnamese foods heavily influenced not only through Chinese and national dishes, but heavily influenced by French elements.
While Vietnam’s economy remains dominated by state-owned enterprises (SOEs), which still produce about 40% of GDP, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries. Vietnam joined the WTO in January 2007 following more than a decade-long negotiation process.
For more images of the life in Vietnam, Ho Chi Minh City, visit this link and the VIFA – visit this link.
In Closing…
The single showcasing of the products of only Vietnamese manufacturers made for a very single focus to the show and one that was shaped by the locale and its domestic products. For price sensitive clients and wholesalers, this was a great market to visit.
Next stop Thailand! More sights, impressions and hopefully, innovative products on the way!