Lectra, the world leader in integrated technology solutions dedicated to industries using fabrics, leather, technical textiles and composite materials, has announced opening of its new subsidiary in Vietnam, the fast emerging garment manufacturing destination, to aid the budding industry in upgrading their manufacturing technologies.
Daniel Harari, Lectra CEO avers, “Thanks to 5.5 per cent growth in the first quarter of 2016, Vietnam is one of Southeast Asia’s most dynamic economies. It is a top choice for manufacturers who focus on production costs and brands seeking to diversify supplies. The transpacific agreement signed in February 2016 will reinforce the attractiveness of the country, where Lectra has many customers, including very large Asian companies.”
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With the opening of the Vietnamese subsidiary, Lectra is continuing with its efforts to expand its footprint in the Asian market. “Owing to twenty years of experience in Vietnam, Lectra understands the local industry’s fundamentals perfectly. I am pleased to develop even further the close ties that Lectra has with companies present in the country,” states Yves Delhaye, Managing Director – ASEAN, Autralia, South Korea and India. He further adds that several of their Chinese and South Korean apparel customers manufacture a good portion of their produce in Vietnam where people are interested in innovative solutions to improve the quality of their products, efficiency of their operations and productivity of their factories.
The apparel industry is especially vibrant in Vietnam. Clothing exports reached US $ 21 billion in 2014 and should grow by 8 per cent, attaining US $ 29.5 billion in 2016, nearly a third from local actors. Of the 6,000 textile and apparel companies, a large number are owned by Chinese, Hong Kong, South Korean, Japanese and Taiwanese companies operating out of Vietnam to take advantage of lower manufacturing costs.
