Regent Garment Factory Ltd., under Hong Kong-based clothing manufacturer Crystal International, opened the first phase of its $70 million factory in Vietnam’s northern province of Hai Duong on Thursday.
The $34 million first phase of the project, covering 8.3 hectares in Nguyen Giap industrial cluster, will gradually increase the annual output from six million to 28 million products. The project’s next phase will be deployed soon.
Once fully operational, the project will employ 2,650 local people.
The plant is Regent Garment Factory’s third facility in Hai Duong province. The first, located in Nam Sach Industrial Park, was established in March 2003 and entered official production in June 2006. It has an investment of $64 million and currently employs 5,000 people.
The second, located in Lai Vu Industrial Park, has an investment of $173 million. The project was initiated in April 2013 and entered official operation in August 2014. It currently employs 16,900 people with an annual output of 170 million items.
Founded in 1970, Crystal International is a partner of major global brands, including H&M, Adidas, Nike, Under Armour, Uniqlo, Victoria's Secret, Puma, and Levi’s. It now runs 20 factories in Vietnam, China, Bangladesh, Cambodia, and Sri Lanka. Out of 73,095 staff as of end-2022, Vietnam accounted for 49.6%.
In Vietnam, the firm operates factories in Hanoi, Hai Phong city, and the provinces of Hai Duong, Bac Giang, Phu Tho, and Binh Duong, earning an export revenue of $1 billion annually.
Crystal International earned a net profit of $164 million on a revenue of $2.18 billion in 2023, down 5.2% and 12.6% year-on-year, respectively, according to the firm’s financial statements.