Vietnamese firm signs cooperation agreement with Luen Thai

21 Mar '15

1 min read

A leading Vietnamese garment firm Duc Giang Corporation (Dugarco) has signed a cooperation agreement with Luen Thai Holdings, a leading garment company listed on the Hong Kong exchange.

The agreement has been signed with an objective to integrate Dugarco more deeply with the world market, particularly in view of a series of free trade agreements that are expected to be signed by Vietnam this year.

As part of the agreement, Luen Thai will purchase 51 per cent of the shares of Duc Hanh Garment Joint Stock Company, a subsidiary of Dugarco, VNS reported.

Hoang Ve Dung, president of Dugarco’s board of directors, expects the company’s revenues and profits to witness a five-fold increase by sharing market, technology and administrative experience with Hong Kong’s leading garment enterprise.

Established in 1990, Dugarco currently operates 22 garment and supporting factories in Hanoi and other provinces such as Bac Ninh, Thai Binh, Thanh Hoa, and Hanam.

With employee strength of 10,000, Dugarco’s main products include casual wear, formal wear, menswear, work wear and jackets. (RKS)

Fibre2fashion News Desk - India

More Apparel/Garments News - Vietnam...