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'Vietnam is a labour efficient country' – House of Pearl

Dec '08
House of Pearl Fashion Ltd. is an Indian-multinational apparel manufacturing company which started its operations in 1987 in India and gradually expanded to 11 countries across the globe through organic and inorganic routes.

The manufacturing facilities of the company are located in India, Bangladesh and Indonesia and have annual capacity of 19 million pieces per annum. It is one of the few companies in India having warehousing and processing facilities located in U.S.A. and U.K

The company is known to offer total supply chain solutions to customers. It has an integrated business model with three distinct business streams, “Manufacturing”, “Marketing and Distribution” and 'Branding and Sourcing”.

Recently the company, through Multinational Textiles Group Ltd, Mauritius, a wholly owned subsidiary, entered into a share purchase agreement for acquisition of 38 percent ordinary shares of Nam Long Garment Joint Stock Company, Vietnam.

Nam Long Garment Joint Stock Company is engaged in the business of manufacturing of readymade garments in Vietnam & has production capacity of 3 million pieces per annum and this acquisition will enable the House of Pearl to establish a manufacturing base in Vietnam.

News is pouring in daily of companies either cutting capacities or totally closing down so this acquisition on the part of the company is highly admirable in these troubled times. To understand the rationale behind the acquisition, fibre2fashion.com spoke to a senior official of the company.

When asked for the reason in selecting Vietnam for expansion he replied by saying, “Because it is a labour efficient country and production level is very high, so we see a lot of potential.” To another question of which other countries they see opportunity he said, “We see good opportunities in Bangladesh and Cambodia, but right now we are not looking at setting up new bases over there.”

To the question of how much investment they had made in Nam Long Garment Company, he replied by saying that the company has been valued at US $1.2 million but the final agreement is yet to be finalized.

Fibre2fashion News Desk - India

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