Vietnamese apparel manufacturer to halt operations from next year | Apparel News Vietnam
Home » News » Apparel Exporters News » Vietnamese Apparel Manufacturer To Halt Operations From Next Year

Vietnamese apparel manufacturer to halt operations from next year


READ MORE ON Apparel Exporter VietnamApparel ManufacturingVietnam Apparel Industry

Vietnam Apparel Factory

Image Courtesy:

Phú Thịnh-Nhà Bè Garment Joint Stock Company, a Vietnam-based apparel manufacturer has decided to halt its apparel manufacturing business from early next year. The decision has been taken to overhaul its operations which have been declining since 2012 due to unstable material sources, rising costs and a shortage of labour which has resulted in ineffective operations.

It may be noted that company’s net profits dropped to over VNĐ 2 billion in 2016 from VNĐ 7.5 billion in 2012. Moreover, its sales decreased 21.5 per cent year-on-year to VNĐ 33 billion in current fiscal.

Also ReadThai Son SP Sewing Factory filling a niche in Vietnam garment industry

The garment company will also seek investors to offload its entire holding of 19 per cent of capital, equivalent to VNĐ 5.7 billion, in Nhà Bè Real Estate Development JSC, as well as sell stakes worth a combined VNĐ 2 billion in Việt Thắng Garment JSC and NBC Communications and Tourism JSC.


Have some news? Let us know on

Comments are closed.

Recommended by Apparel Resources

Triton Textiles taps WFX as global technology partner

40-year-old Triton Textiles, a garment exporter based in China, has opted for WFX Cloud ERP to modernize its business operations and gain flexibility...

Silver Spark Apparel Ethiopia now operational!

Silver Spark Apparel Ethiopia, a wholly-owned subsidiary of Raymond, India-based textile and apparel conglomerate, has cut the ribbons of its Greenfield garment manufacturing facility...

Prabhakar Overseas looking to explore new segments

Based in Noida, UP, India, garment exporter Prabhakar Overseas Group also has an office in California too. It is now planning to explore some good opportunities in ethnic wear, footwear...

Indian T&C industry needs more knowledge sharing sessions

Garment and textile industry of India has urged the Government to conduct more knowledge sharing programmes. To drive growth, increase technical potential and...

Versatile Clothing Company opts for Speed Step’s Design Suite

Tirupur (India)-based Versatile Clothing Company, a leading manufacturer of cotton knitted hosiery garments, has decided to implement Speed Step’s Design application bundle. Intuitive and easy...

Strawberry Clothings exploring opportunities in Canadian market

Noida (India)-based apparel exporter Strawberry Clothings (a unit of Shatabadi Exports) is exploring new markets, improving its work culture and increasing...

Pan Brothers to set up new factories

Indonesia-based textile and garment exporter Pan Brothers has announced an investment plan of US $ 35-37 million for 2017. “US $ 30 million...

TEA explores possibilities to set up garmenting units in Odisha (India)

Garment manufacturers in the nearby areas of Tirupur (India) are exploring more investment opportunities to set up new manufacturing units in Odisha. A...

CTA Apparels seeks to increase fabric sourcing

Noida (India)-based garment manufacturer and exporter, CTA Apparels Pvt. Ltd., is geared up to increase its fabric manufacturing capacity through its vertically integrated textile mill. Currently, the company is producing...