Tmi (Vietnam) Co., Ltd (Vietnam)

The subject - TMI (VIETNAM) CO., LTD is a member of TMI Group that is developing textile and garment industry of Singapore. In Vietnam, the subject specializes in processing and trading sports clothing (T-shirt, jacket, polo, etc.) for brands like Adidas, Nike, Puma, Tory Burch, and Hugo Boss. As shared, its total workforce still fluctuates around 5,000 persons. Most of the products are exported to Tung Mung International Pte Ltd in Singapore.Currently, Mr. TAN LOO LEE holds position as General Director cum Legal Representative of the subject. In addition to the subject, he is also one of shareholders of ELITE INVESTMENT WORLDWIDE COMPANY LIMITED.Sharing at the Press Conference of the Vietnam Textile and Apparel Association (Vitas) 2023 Summary Conference, taking place on November 23, Mr. Vu Duc Giang - Chairman of Vitas said: In 2023, the large inventories in import markets after being "overbought" in 2022, combined with reduced consumer demand, affected the global textile and garment industry, including Vietnam is also affected, with reduced orders, lower prices and fierce competition.According to statistics by the end of the 10 months of 2023, Vietnam's textile and garment industry reached about USD 33 billion in export turnover, expected to reach about USD 40.3 billion for the whole year, down 9.2% compared to the previous year. The USA is still Vietnam's largest garment export market, by the end of 9 months exports to this market reached over USD 11 billion, followed by Japan with USD 3 billion, South Korea with USD 2.43 billion, EU nearly USD 2.9 billion. In addition, since the beginning of 2023 until now, Vietnam has exported a significant amount of textiles and garments to Canada, China, England, Australia, Russia, Indonesia, Thailand, Hong Kong, India... Among the key markets industry, exports to the EU in 2023 did not meet expectations, down 13% in 9 months.In 2024, Vietnam's textile and garment industry aims to reach USD 44 billion in export turnover.