Bac Giang Lgg Garment Corporation (Vietnam)

The subject, BAC GIANG LNG GARMENT CORPORATION and BAC GIANG BGG GARMENT CORPORATION were formed on 20 Jun 2018, which were separated from BAC GIANG GARMENT CORPORATION. They have a common field of activity, which is processing clothes for famous brands such as Uniqlo, The North Face, Gap, Marc O'polo, Crocodile, Zara, Burton... However, the subject has the biggest scale. It inherits most of the human resources, facilities, and customers from BAC GIANG GARMENT CORPORATION. It has a facility at Bang Hamlet, Nghia Hoa Commune, Lang Giang District, Bac Giang Province, Vietnam, and 6 subsidiaries in both Bac Giang and Tuyen Quang provinces with total employees of up to 7,000 people. It exports mostly to foreign markets including Japan, the USA, Belgium, EU, South Korea, and Russia. Its business performance was generally assessed as effective in the past years. We had an interview with the chairman and knew that facing general difficulties of the global economy due to high inflation after the Covid pandemic, especially in large markets like the USA, and EU, the subject in particular and garment companies in general recorded a significant decrease of orders since the end of 2022. The chairman revealed that the volume of orders from traditional customers was reduced by about 20% in this year – 2023 but the subject has proactively sought more customers and diversified products, so this year's revenue is estimated not to decrease too much compared to last year's. Despite that, with large costs, its net income will continue to reduce as compared to 2022's.