Home / Knowledge / News / Apparel/Garments / Vitec profits up 5% in Q1

Vitec profits up 5% in Q1

21
Jun '06
Viettien Garment Company or Vitec reported profits worth US $113 million through exports till May 2006, showing five percent rise compared with same period, 2005.

The US retains top export destination for the company, accounting for 35 percent of entire exports turnover, followed by Japan, the EU with 31 and 18 percent, while South East Asian countries picked five percent share.

Of the exports revenue, Vitec's parent company ramps up $71 million, $30 million by its subsidy companies and the rest $12 million, notched by group companies.

Vitec is a leading garment company of Vietnam under Vinatex, and its General Director Nguyen Dinh Truong has just been named one of ten most Excellent Businessman of Vietnam in 2005 by Ministry of Industry.

In an effort to enhance competitiveness, Vitec now is speeding up equitization of its subsidiary companies such as Dong Tien Garment, Tay Do Garment etc as well as plans to go public itself in 2007.

Besides, Ho Chi Minh city - based company is going to expand its subsidiaries in the surrounding provinces including Dong Nai, Can Tho, Ben Tre and Ninh Thuan.

Fibre2fashion, News Desk - Vietnam


Must ReadView All

Pic: Shutterstock

Textiles | On 14th Apr 2021

Sri Lanka to ban fabric imports

Sri Lanka is all set to ban the import of textile fabrics in a bid to ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 14th Apr 2021

Bangladesh apparel exports dip 2.55% in July-March FY21

Readymade garment exports from Bangladesh declined by 2.55 per cent...

Pic: Shutterstock

Textiles | On 14th Apr 2021

US proposal for global minimum corporate tax finds takers in Europe

The idea of a global minimum corporate tax floated by the US has...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

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

Leave your Comments


April 2021

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


Advanced Search