Saigon 3 Garment Joint Stock Company (Vietnam)

The subject is one of the subsidiaries of Saigon3 Group Investment Development Joint Stock Company. It specializes in manufacturing garment products such as khaki pants, jeans, sports clothes, shorts, skirts, etc. Its major customers are Uniqlo, Torrid, Express, Talbots, etc. The Japanese market is its main export market with ratio of 50%. It has 3 sewing factories, a wash factory and 2 finishing factories with more than 3,000 machines. Besides, it provides services of office leasing. The parent company has many member companies operating in some fields, in which textile production makes a significant contribution to the group's production activities. SSI Research has just released a report updating the outlook for the textile and garment industry with a highlight that orders are expected to increase from the fourth quarter of 2023. In July 2023, Vietnam's textile and garment export turnover reached USD 3.8 billion (down by 9% over the same period), compared to a decrease of 17% over the same period in the first half of 2023. In July 2023 recorded the highest monthly export value since the beginning of this year.The industry's export turnover in the first 7 months of 2023 reached USD 22.8 billion (down 15% over the same period). Of which, export turnover to the USA (the largest export market contributing 39% of total export turnover) reached USD 8.7 billion (down by 24%) in the first 7 months of 2023.Exports to Europe and Japan reached USD 2.7 billion, down by 10%, and USD 2.2 billion, up by 4%, respectively. Vinatex expects the country's textile and garment export turnover in 2023 to reach about USD 40 billion in 2023, down by 10% over the same period in the previous year.