HanesBrands ups investment in Vietnam
(VOV) - Apparel maker Hanesbrands (HBI), a subsidiary of the United States-based Hanesbrands Inc, will raise its investment capital in Vietnam from US$44 million to US$55 million by the end of this year, in order to expand production and provide products to the world market.
The production expansion has again confirmed a strong commitment of Hanesbrands to making Vietnam an important investment destination in its global production map, said a representative of Hanesbrands.
Currently, HanesBrands has three factories in Vietnam, located in Khoai Chau and Kim Dong districts (Hung Yen province) and Phu Bai district (Thua Thien-Hue province).
HanesBrands Vietnam has an annual capacity of 475 million products, accounting for 20% of its total capacity in the globe.
HanesBrands began to invest in Vietnam in 2007. Since then, its famous brand names have been introduced to local consumers such as Hanes, Champion, Playtex, Bali, Maidenform, Flexees, JMS/Just My Size, Wonderbra and Gear for Sports.
HanesBrands Vietnam’s export value has grown well over eight years of operation. The inauguration of its third factory in 2014 helped increase its export value to US$334 million. HanesBrands is forecast to achieve an export value of US$355 million by the end of this year.
Hanesbrands Inc is headquartered in Winston-Salem, New York city. It now has 59,500 employees in 35 countries across the world. In 2014, its revenue was US$5.32 billion, ranking 490th in top 500 largest businesses in the world.