Coats Phong Phu Limited Liability Company (Vietnam)

The subject engages in producing sewing threads for apparel, footwear, and accessories manufacturers. Yarn samples, dyes, synthetic fibers... are imported from many countries to serve production.In period of 2020 - 2021, many textile and footwear companies suffered from negative impact of Covid-19 pandemic on global supply chain. Especially in 2021, due to prolonged social distancing measures, production activities encountered with certain impediments. In first 6 months of 2022, the textile and footwear industry recorded a recovery when the pandemic was controlled. Nevertheless, in final months of this year, the global economy showed a clear downturn. Geopolitical tensions among big economies have disturbed macro-economic factors (like high inflationary rates…) and decreased consumption power in USA and EU countries.According to press information, because of a drop in orders, the company forced to stop signing contracts with many workers. The subject does not share information about current labor force.