Phu Tho Jim Brother's Corporation (Vietnam)

Founded in late 2010 in Phu Tho province, the subject is engaged in processing shoes (sports shoes, leather shoes, etc) for export. According to its investment certificate, this project was been put into operation in Quarter IV/2011 and its expanded project has put into production since Quarter II/2017. In an interview with the Chief Accountant - Ms. Nguyen Thi Thu Ha, we are shared that shoe products are totally exported to JIM BROTHER'S HONG KONG and other clients in accordance with the directions of JIM BROTHER'S HONG KONG, particularly to Germany, Canada, UK, the Netherlands, the USA, Hong Kong, South Korea, etc. The company is processing for brands such as MICHAEL KORS, POLO, ON RUNNING, HELLY HANSEN, VIVO, and VIBRAM, ...Because of the COVID pandemic outbreak, the subject met certain difficulties. The number of orders from clients significantly decreased in comparison with the time before the pandemic, having forced it to cut down the labor force. It was seriously affected in August and September of 2020 with order decrease rates of 70% and 80% respectively, being the main cause for the revenue depression in 2020. The situation improved a little in 2021, yet it still suffered a loss. According to the Chief Accountant, business operation is still being recovered, and the company has obtained about VND 800 billion of turnover for the first 10 months of FYE 31 Dec 2022, which has risen about 15% over the same period of 2021. Furthermore, it has attained a 3% profit ratio instead of losses as in the 2020-2021 period, she added. The company is operating normally with a labor force of about 3,000 people presently.