Garment No 10 Joint Stock Company, (Garco 10) operating under the umbrella of VINATEX, recently reported that in 2007, it has earned VND 490 billion or US $30.6 million revenue, up by almost 50 percent over 2006.
However, in regard to profit, the company reaped just VND16.5 billion or $1.03 million in fiscal year 2007, representing a year–on–year rise of only 4.23 percent. The reason for such low earning can be explained as rise in production cost in this period. As most manufacturing companies in Vietnam has to depend on imports of raw material.
In 2007, Garco 10 appointed around 126 sales agents across the country to promote its key products, high–quality shirts and Vestong suits in the domestic market. As a result, the company was able to fetch a consequential amount of about VND 97 billion revenue or $6.1 million.
In an attempt to satisfy production and demand in both local and oversea market and to gear up for the running year and sustain this development, Garco 10 has poured vast amount to improve its raw materials supplying capacity. Furthermore, the company is trying to enhance the present condition of its product designing centers.
In 2008, the Hanoi based Garco 10 targets to generate $36.8 million foreign revenue and $1.1 million net profit. At present, the company boasts catering to international leaders like Pierre Cardin, C&A, and Arrow.
Fibre2fashion News Desk - Vietnam