Home / Knowledge / News / Apparel/Garments / Luthai Textile to set up garment company in Vietnam
Luthai Textile to set up garment company in Vietnam
31
Dec '15
The Shandong-based Luthai Textile Co., Ltd. has said it will invest $30 million in setting up the Luthai (Vietnam) Garment Co., Ltd. in An Giang, Vietnam with a processing capacity for 6 million pieces of garment, a Chinese textile industry website has reported.

The exercise is intended to extend Luthai's textile chain in Vietnam to garment production and increase investment returns.

This investment is believed to take the advantage of low Vietnamese labour cost, reduce production cost, make the company's garment processing business more competitive on the world market and establish a more complete industrial chain. The Vietnam-based company will integrate competitive resources both at home and abroad, effectively evade potential trade barriers and improve the company's overall global distribution of production.

Luthai Textile Co., Ltd. is the parent company of Luthai Group, which has 12 holding companies, 36 production sites, total assets of CNY 8.59 billion ($1.3 billion) and net assets of CNY 6.87 billion ($1.06 billion). The company owns 150,000 mu (1 mu=0.0667 hectare) of high-quality long-staple cotton growing land, 750,000 spinning spindles and 100,000 doubling spindles. It produces yearly 190 million meters of yarn-dyed fabric, 85 million meters of printed and dyed fabric and 20 million pieces of shirts bearing one of the top ten brands in China. (SH)

Fibre2Fashion News Desk - India

Must ReadView All

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Textiles | On 18th Jan 2017

Schoeller unveils water-repelling fabric ‘bling’

Schoeller textiles, Swiss textile company, has released its new...

Textiles | On 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search