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NEWS UPDATES 14 February 2010

Vietnam: Garment firms trim costs by opening joint-ventures

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In a bid to cut costs, Vietnamese textile and garment enterprises are jointly opening retail outlets. Gia Dinh Textile and Garment Corporation (Giditex) and Sai Gon 2 Garment Joint Stock Company, which own the Gidini and Sanding brands, plan to open several outlets in Ho Chi Minh City, reported the Antara news agency.

"This is the first time the two companies have joined forces," said Le Dong Trieu, general director of Giditex. He also said Giditex was also planning to join forces with other garment makers such as Nha Be, Phong Phu Corporation and Sai Gon Garment Manufacturing Trade Joint Stock Company (Garmex Sai Gon).

Nguyen Huu Toan, director of Sai Gon 2 Garment Joint Stock Company, said his firm also planned to open joint retail outlets around the country.


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