According to Vietnamese media reports: Crystal International Group (Hong Kong, China) has just held a working meeting with the leaders of the Nam Dinh Provincial People’s Committee and proposed to invest in yarn, fabric and clothing production projects in Rang Dong Textile Industrial Park (Nam Dinh Hing).
At the meeting, the person in charge of Crystal International Group stated that the company has studied and has the need to invest in a sixth project in Vietnam. The project will produce yarn, fabric and clothing. According to the plan, the project will be implemented in two phases, with a total capital of nearly US$200 million:
Phase I: Invest in the construction of a fabric factory with a total capital of US$60 million, an annual output of 55 million meters of fabric, and the creation of 800 jobs. The estimated revenue is approximately US$110 million, and it will contribute approximately US$6 million to the national budget.
Phase II: Invest in a jeans factory with a total capital of US$140 million, creating jobs for 4,000 workers; total revenue is expected to double.
Crystal leaders emphasized: “The Nam Dinh project is also the group’s first chain-scale investment project in Vietnam and is expected to become the group’s greatest achievement.”
China’s textile “giant”: revenue of US$2.5 billion, main partners Uniqlo, Victoria’s Secret…
Crystal is one of the leading closed textile and apparel chains in the region and globally. The group was established in Hong Kong in 1970 and currently has approximately 14 self-operated factories in 5 countries: Vietnam, China, Cambodia, Bangladesh and Sri Lanka. The group employs more than 70,000 people and supplies more than 470 million garments annually to the world’s leading apparel brands at affordable costs.
The company is listed on the Hong Kong market; its revenue is approximately US$2.5 billion. Its main partners are Uniqlo, Victoria’s Secret and American retail brands.
According to the group’s financial statements for the first six months of this year, total revenue exceeded US$1 billion, a year-on-year decrease of 24%. Despite significant cost reductions, Crystal’s profit fell sharply during the period, from US$229.5 million to US$192.7 million. Instead, profit margins improved to 19.1%.
In terms of the group’s revenue structure, the main product categories are lifestyle fashion, sportswear and denim. In the first half of the year, the Asia-Pacific region officially surpassed the United States and became the main contributor to crystal sales, accounting for 38%, followed by the United States, accounting for 36% of sales.
Vietnam is the main production area: it has 5 factories, 20 years of investment and export sales of billions of dollars.
In particular, Vietnam is considered the group’s main production area in the past 20 years. 10 years ago, Crystal first came to Vietnam and attracted attention by investing more than 500 million US dollars in 2 large-scale projects in Lai Vu Industrial Park, including:
(i) The total investment of the Pacific Crystal Textile Project is US$425 million, equivalent to approximately VND8,882.5 billion, with an area of 35.1 hectares (17 hectares for the first phase and 18.1 hectares for the second phase). It is expected to attract approximately 6,000 workers.
(ii) The Tinh Lợi garment expansion project has an investment of US$120 million, equivalent to approximately VND2.34 trillion, and covers an area of 35 hectares (13.5 hectares for the first phase and 21.5 hectares for the second phase). It is expected to attract about 16,900 workers, mainly local workers Worker. The above two projects are the largest textile and garment complexes in Vietnam.
So far, Crystal has 5 factories in Hai Duong, Hai Phong, Bac Giang, Phu Tho, Binh Duong and other provinces and cities; the group’s total export revenue in Vietnam is approximately US$1 billion and has more than 40,000 employees.
Currently, Vietnam is also the country where Crystal’s largest production capacity factory is located.
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