I've heard this question a fair number of times, so I just added Van Phuc silk village as a venue. (Do that many identical shops each need their own entry? I'll leave it up to them!)
It's far enough out of town that the street names no longer appear on the map, but hopefully you can use a few landmarks on the map and the pinpoint I added to get there.
See: http://newhanoian.xemzi.com/en/venue/show/2473/Van-Phuc-Silk-Village
Good luck!
Yeah, the village has lost some of its uniqueness due to the large number of shops popping up in the Old Quarter selling the exact same stuff. But it's still quite a bit cheaper. I'd recommend it for that last-week-before-you-head-home-whirlwind-souvenir-shopping-spree, but that's about it.
