Freewell (Viet Nam) Co., Ltd (Vietnam)

The subject specializes in manufacturing and processing sports shoes for the Asics brand. The materials for production are imported from South Korea, China, Taiwan, etc. All products are exported to Japan, Taiwan, China, the USA, EU countries. We tried to contact Ms. Trinh Thi Chuyen – chief accountant, but she refused to disclose the current business result. Summarizing reports from the Vietnam General Confederation of Labor, in 2022, there were 144 collective work stoppages in the whole country. In which, leather and footwear were one of the most affected industries with 109 businesses (accounting for 8.82%). Footwear industry exports mainly to the EU market, then to the US market. Meanwhile, leather and footwear export orders to the EU recently have declined due to the impact of the Russia-Ukraine conflict as well as high inflation. Commenting on the export situation in 2023, the Vietnam Leather, Footwear and Handbag Association (Lefaso) said that from the fourth quarter of 2022, all export industries (including footwear) were greatly affected by the market world. Specifically, the main export markets such as the USA, EU, and Japan all declined due to inflation, declining consumption, and especially large inventories of fashion items. These factors affect the order situation of the leather and footwear industry. It is expected that by the end of the second quarter of 2023, the situation may be better. This also has a great impact on orders as well as the labor in the leather and footwear industry. Businesses also identify this as one of the huge challenges facing the industry.