Bac Giang Lng Garment Corporation (Vietnam)

Being established in 2018, the subject is a garment company in Bac Giang Province, Vietnam. Anyway, it has inherited a part of the facilities and labor force of BAC GIANG GARMENT CORPORATION which was founded in 1972 and was dissolved in Mar 2019. The main products of the subject are quilted jackets, kid jackets, pants, down jackets, and cotton jackets... Its products are mostly for export overseas to the USA (mainly), China, Japan, South Korea, and the EU... The company processes garment products under order from famous brands like Gap, Lacoste, Barbour, Uniqlo, Marc O'polo, Nepa, Old Navy, Zaza, Hollister, Fila, etc.According to the Chief Accountant, thanks to receiving more regular new orders with high unit prices from big clients in the USA, the net revenue of the subject increased continuously with a compound annual growth rate of 30.5% during the period of 2018-2022, reaching the peak of VND 787.1 billion. Additionally, it continued to gain noteworthy profits after tax of ascending figures in the last three years. However, due to the post-Covid economic recession, its big clients have reduced their order quantity gradually since early 2023. Accordingly, the company has to fill its export processing by accepting many orders from new minority customers with unattractive unit prices. As a result, despite improving output product quantity slightly, the subject's revenue in the first ten months of 2023 reached about VND 550 billion, down by nearly 10% compared to the same period last year. Meanwhile, at the same period of time, it gained considerably lower profit after tax due to having a thinner gross profit margin, she added. The business of the company is still busy now.