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Bangladesh is attractive in terms of labour cost and free trade terms
Crystal Group, a Hong Kong-based apparel manufacturer, is an ardent believer of nurturing profit, people and planet for growth. Andrew Lo, CEO of Crystal Group, shares the company philosophies with respect to international trade, sourcing destinations, strategic relationship and technology with Mary Christine Joy.
Crystal Group understands the importance of sustainability. Can you let us know your ideas on sustainability and the role played by the group towards achievement of this objective?
Sustainability has become a new competitive edge for Crystal Group, with which we leverage our corporate culture to drive all employees to strive for balancing the triple bottomlines of the company, i.e. profit, people and planet.
Profit is an important source for sustaining our growth, supporting the livelihood of our employees, and development of the community. So, we have to be innovative to challenge the status quo to provide goods and services that customers favourably regard as value for money.
People are an important capital; our employees are always at the heart of our success. Believing that trust and empowerment could help unleash the potential of our talents, we employ various personal development and leadership coaching programmes to enhance their personal skills, enable them to envision a career development with Crystal Group, and attain their own accomplishment and values. With such a reliable workforce, we are contributing better to the community where we operate.
The planet provides us with the resources to nurture a better living, where we have the obligation to protect it in turn. To us, being environmental is not just a good cause, but also betterment of our management efficiency in terms of resource management, cost reduction and productivity improvement.
All in all, the concept of sustainability and formulation of business strategy embracing it helps us to perform better and win in the market.
What is the importance of local supply chains for international businesses, especially in outsourced destinations?
Local supply chain capability is important in terms of:
1. Enabling quicker response to the market;
2. Ensuring stable supply of materials;
3. Reducing footprints due to logistics;
4. Benefiting from trade agreements where locally sourced materials is favoured.
How important is Vietnam as a destination for textile manufacturers based in China and Hong Kong?
With Vietnam growing more mature in terms of business environment and export trade agreement, logistics, infrastructure, and workforce, it is our new star for the forthcoming growth plan.