Down jacket and garment maker Quang Viet Enterprise Co (廣越企業) yesterday reported that revenue last year rose 54.22 percent year-on-year to a record high, driven mainly by rising orders from major clients, and product portfolios that were less susceptible to inflation and market fluctuations.
Contributions from subsidiary King Hamm Industrial Co (金漢實業), which supplies high-end swimwear and functional wear to global brands, also helped push revenue for the whole of last year to NT$20.06 billion (US$657.3 million), up from NT$13.01 billion in 2021, the company said in a statement.
“King Hamm has excellent production technology in the field of knitted garments and its operations also grew significantly in 2022, which have further boosted the group’s operating scale,” Quang Viet president Charles Wu (吳朝筆) said in the statement.
Photo courtesy of Quang Viet Enterprise Co
Last year’s results came as the company’s revenue last month rose 13.54 percent month-on-month and 4.62 percent year-on-year to NT$1.56 billion, the statement said.
Quang Viet is positive about its business outlook for this year given its leading position in the world’s high-end down jacket market and its target of securing more orders from various brand clients, it said.
“In addition, the group will continue to devote itself to diversifying product categories and expanding production bases, aiming to gradually minimize the difference on its operations between low and peak seasons,” the statement said. “Meanwhile, it is hoped the scale of operations would also expand accordingly with the continuous development of knitted garments.”
Quang Viet has its headquarters in Taipei and operates factories in China, Vietnam, Romania and Jordan.
The company’s brand clients include Adidas AG, Nike Inc, Under Armour Inc, New Balance Inc, The North Face, Patagonia Inc, Helly Hansen Group and Aritzia LP.
As the company joined the supply chain for Lululemon Athletica Inc at the end of last year, the new customer is expected to expand its orders for sports and functional knitted garments, helping to drive growth momentum in the next two years, analysts said.
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