Thaibinh Group (Vietnam)

Starting from a footwear manufacturing enterprise, after 30 years of operation, the subject - TBS Group has become a large enterprise operating in multi-segments including industrial production of footwear and handbag, real estate and industrial infrastructure investments, port and logistics, tourism, retail trade and services, and financial investments. This company has import-export relations with many countries.In the footwear and handbag segment (main field), TBS Group has become a large-scale products processing partner of famous brands such as Skechers, Decathlon, Wolverine, ECCO…(for the footwear industry), Coach, Osprey, Lancaster, Kate Spade, and Tory Burch…(for the handbag industry). Currently, Mr. Nguyen Duc Thuan - Chairman cum General Director of TBS Group, is also the Chairman of Vietnam Leather, Footwear and Handbag Association (LEFASO).According to the Vietnam Leather - Footwear - Handbag Association (LEFASO), from the end of 2022 to early 2023, the global economy was weakened, aggregate consumer demand declined, and inflation increased in developed countries, especially in countries that are Vietnam's main export markets such as the United States, the EU, China, etc. Along with that, maintaining tight monetary policy and high inventory levels caused import orders from these markets to decline, strongly affecting the import-export activities of many industries, including footwear. Businesses are facing a serious shortage of orders, up to 30-50% for traditional markets, especially the two markets accounting for 70% of Vietnam's leather and footwear export turnover, the United States and the EU decreased by 35% and 13% respectively. Orders have shrunk and exports have not yet predicted a recovery time, forcing businesses to cut labor continuously.For the real estate segment, the industrial infrastructure and industrial real estate investments could be a bright point for this field when the Vietnamese Government continued to issue the tighten policies in order to control the real estate price. Therefore, the civil and resort real estate seemed to be frozen since at the end of 2022. According to our opinion, the fields that might operate smoothly and bring high profit for the subject in 2023 are industrial infrastructure investments, port and logistics, tourism, retail trade and services.