Home / Knowledge / News / Textiles / Phong Phu Corp celebrates 50th anniversary
Phong Phu Corp celebrates 50th anniversary
10
Oct '14
Image courtesy: Vinatex
Image courtesy: Vinatex
Phong Phu Joint Stock Corporation, one of the leading corporations of Vietnam textile industry, is celebrating 50th anniversary of its inception on October 14, 1964.
 
On the occasion, Pham Xuan Trinh, general director of Phong Phu, said during the 50 years of progress and development, Phong Phu is proud of the results it has achieved and the company continues to be one of the leading enterprises in Vietnam.
 
The company’s development has been possible due to continuous application of technical innovations, investments in innovative equipments and technology for production in a cost-effective manner, said Xuan Trinh.
 
Building good relationships with customers and continuously strengthening the same has been a longtime tradition of the company, which helped it to raise export sales.
 
Over the next five years, Phong Phu plans to increase investment in production of home textiles and towels, in order to take advantage of the opportunities that would come in view of the upcoming Trans-Pacific Partnership (TPP) agreement.
 
In 2015-16, Phong Phu will invest in 2 large-scale textile plants in Nha Trang and Le Minh Xuan Industrial Park. Moreover, this month, the company is launching a leasing company in joint venture with a Japanese firm for supplying towels, robes, blankets, drapery, etc. to high-end hotels.
 
The completion of 50 years marks beginning of a new phase for Phong Phu, which now eyes to reach US$ 1 billion in revenue by 2020, Xuan Trinh said. (RKS)
 

Fibre2fashion News Desk - India

Must ReadView All

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Courtesy: IRRC Institute

Apparel/Garments | On 27th May 2017

Up to 7.5 mn retail jobs in US at risk due to automation

About 6-7.5 million retail jobs in the US are likely to be automated...

Textiles | On 27th May 2017

Indian textiles ministry promotes wool sector

The ministry of textiles has taken multiple steps to promote the wool ...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Larry L Kinn
Suominen Corporation

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search