Lacoste considering Vietnam investment
Lacoste, the famous French fashion firm, is eyeing Vietnam as a new manufacturing base to increase its production capacity to meet global demand. It would be Lacoste’s first manufacturing facility in Vietnam.
Francois Meauze, vice president of global supply chain at Lacoste, this month visited central Quang Nam province to study investment opportunities. A Quang Nam Provincial Department of Planning and Investment source, said Lacoste expressed interest in setting up a manufacturing factory in the province.
“The products produced in Quang Nam will serve domestic and international markets. Everything is just in the initial stage. We have to continue working with Lacoste on this investment plan,” said the source.
This anticipated investment plan underscores the continuing appeal of Vietnam’s textile and garment industry amid the country’s broad economic struggles.
Nike, for example, has increased orders from its Vietnam operations and Esquel Group, a leading producer of premium cotton shirts, in July began construction of a $25 million apparel plant in northern Hoa Binh province.
“Lacoste said it wanted to make a long term investment here,” said the source. Founded in 1933, Lacoste is among the world’s most famous fashion brands. Last year, it reached record sales of $2.1 billion, an 11 per cent increase over the previous year.
