SPICA ELASTIC VIETNAM COMPANY LIMITED has operated for 13 years in the Vietnamese market since 2010. Founded as an Indian-invested company, it gets involved in manufacturing and supplying kinds of elastic and sewing thread, serving the garment industry. The subject is running factories in Que Vo Industrial Park (expanded) and Que Vo 3 Industrial Park of Bac Ninh Province. Its products are either directly exported overseas (India, Panama, USA, Pakistan, South Korea, etc.) or on-spot exported to third parties in Vietnam following the directions of overseas clients. As shared, a typical third party in Vietnam is Hanesbrands in Thua Thien Hue Province and Hung Yen Province.Due to the general impacts of the economic recession, the subject has met significant difficulties recently. For FYE 31 Mar 2023, it recorded a 20.63% revenue depression in comparison with the previous fiscal year. Noticeably, net income deeply declined by 70.64% in the same period mainly because of a rise in costs and financial expenses. Currently, it is operating normally with a total labor force of around 900 people.
Headquarters
Lot I2-01 & 02, Que Vo Industrial Park (expanded), Phuong Mao Ward
Bac Ninh; Red River Delta;
Postal Code: 16000
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