Japanese Chori Group has established a strong position as ad trading company in Japan specializing in textiles, chemicals and machinery is now planning to enter Vietnam, by partnering with more companies and lift revenue in its textile trading business there 2.5 times to 5 billion yen ($46.7 million) in fiscal 2018.
During fiscal 2017, the company plans to quintuple to 15 the number of companies it has cooperative relationships with for textile trading in Vietnam.
The Japanese company already has subsidiaries in Thailand and Indonesia, but it considers Vietnam a good base for exports to the U.S. Vietnam has lower labor costs than China and many skilled sewers.
Vietnam is loosening restrictions on foreign investment and the Trans-Pacific Partnership trade deal promises to reduce taxes on imports and exports.
Chori will set up a subsidiary in Ho Chi Minh City this month to keep an eye on the quality of sewn goods.
It will also collaborate locally with a leading Taiwanese chemical manufacturer to support a full range of operations, from the procurement of yarn and cloth to the supply of sewn goods.
Chori is developing new business models, based on its proven expertise and global vision, designed to make the company a powerful presence in the textile marketplace. They are working to deliver added value in every process in the textile business – upstream and downstream – in order to differentiate our products from the competition.
They have an active overseas presence, with facilities throughout ASEAN, China and Hong Kong, the Middle East, and the United States enabling them to supply and sell products through diverse channels.
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