Quang Viet Enterprise Co. Ltd. (QVE), a Taiwan-based garment manufacturer, increased its shipment forecast for the year 2017 from 10 million units to 10.5 million units. “The figure is nearly 15 per cent higher than last year’s 9.1 million units,” averred a Quang Viet’s Investor Relations official.
The official, on anonymity, further added that sales growth this year is mainly propelled by apparel buyers including Nike, Adidas and Patagonia.
The company manufactures down jackets, in addition to making PrimaLoft and ThermoBall jackets. According to company data, Adidas remained its biggest customer in 2016, accounting for 32 per cent of overall sales. QVE has also received new orders from other renowned brands, such as Nautica, Aigle and Converse.
Aggregate sales in the first 2 months of this year decreased by 5 per cent to NT $ 479.98 million (US $ 15.82 million) from a year earlier, as customers are yet to finish inventory digestion. “However, the company expects sales to pick up in the second quarter — a high season for down jacket manufacturers,” the official commented. He further added that to fulfil the demands of consumers, 15 new production lines will start operations next week at its plant in Long An Province, Vietnam and another 15 will begin production by the end of this year at Tien Giang Province.
As per the company data, combined with other factories in Vietnam and China, Quang Viet operates a total of 305 production lines, which can produce 950,000 garments each month.