Toyota Tsusho Group to manufacture world-class functional sportswear in Vietnam
-Company-owned garment plant will expand sportswear OEM business-
- (former)Food & Consumer Services
2017-10-03
Toyota Tsusho Corporation ("Toyota Tsusho") announces that Group company Toyota Tsusho Fashion Express Ltd. ("TFE"), Atago & Co., Ltd., ("Atago") and De Licacy Industrial Co., Ltd. ("De Licacy Industrial") will jointly establish Atago Garment Vietnam Co,Ltd ("AGV") to manufacture sportswear. AGV will begin construction of a garment plant in December 2017 and plans to launch manufacturing operations in 2019.
●World-class garment companies join forces
Toyota Tsusho and TFE are expanding their business, related to "Comfortable Sportswear" which is largely immune to the changing fashion trends. Gelanots® which is one of their representative products would be highly functional textile material. That is produced by special processing methods, to succeed high level in the required function, such as breathable, waterproof, water-resistant, and wind-resistant. With an excellent reputation in the sportswear and outdoor industries, the material has been adopted by the world’s top-class of apparel companies.
Atago manufactures and sells circular knit jersey fabrics, various sportswear and innerwear for 55 years. The knowledge of operating foreign garment plants and production history over the past half century, succeeded to earn high-level craftsmanship for technical products to meet standard of top athletes.
De Licacy Industrial manufacturers and sells textiles and apparel. The company has a 30-year history in the development and manufacture of sportswear textiles, with a reputation for superior quality valued by major European and American sportswear brands.
●Material and product manufacturing using an integrated system to leverage material qualities
AGV will use an integrated manufacturing system linking all processes from material development through machine sewing. This system will feature a strict quality control system to ensure products are delivered to customers’ exact specifications.
By owning its own garment plant and integrating manufacturing from material development through sewing and sales, the Toyota Tsusho Group will gain the ability to manufacture textiles and products leveraging the qualities of its proprietary materials. The Group will utilize this new system to make comprehensive proposals for products of even higher value.
●Expanding the potential of sportswear
The new manufacturing base will enable the Toyota Tsusho Group to expand sales channels both domestically and in foreign markets. With the 2020 Tokyo Olympics and Paralympics in sight, AGV will combine the Toyota Tsusho Group's proprietary materials, Atago's superior garment manufacturing technologies, and De Licacy Industrials advanced methods of textile production processes to deliver products with advanced technologies.
■Outline of AGV
Company name
|
Atago Garment Vietnam Co,Ltd |
---|---|
Home base
|
My Phuoc Industrial Park, Binh Duong Province, Vietnam |
Capital
|
145.6 billion VND (about ¥700 million) |
Shareholder ratio
|
Atago 50% / De Licacy Industrial Co.,Ltd. 30% / TFE 20% |
Established
|
November, 2017 |
Representative
|
Chairman Yasuo Atago (Atago's President & CEO) President & CEO Kazunori Uetsuji (Atago's Corporate Officer) |
No. of employees to be hired
|
About 770 (by FY2023) |
Business overview
|
Sportswear manufacturing |
■Outline of TFE
Company name
|
Toyota Tsusho Fashion Express Ltd. |
---|---|
Home base
|
6-27-8, Jingu-mae, Shibuya-ku, Tokyo |
Established
|
1973 |
Capital
|
¥84 million (100% subsidiary of Toyota Tsusho Corp) |
Representative
|
Takeshi Matsushita |
No. of employees to be hired
|
132 |
Business overview
|
Planning, manufacturing, and sales of various apparel and fashion goods. Brand character licensing. |
■Outline of Atago
Company name
|
Atago and Co., Ltd. |
---|---|
Home base
|
13-1 Minori 4-chome, Fukui City, Fukui Prefecture |
Established
|
1962 |
Capital
|
¥48 million |
Representative
|
Yasuo Atago (President & CEO) |
No. of employees to be hired
|
239 |
Business overview
|
Manufacture and Sales of Knitted Textiles and Knitted Apparel |
■Outline of De Licacy Industria
Company name
|
De Licacy Industrial Co.,Ltd. |
---|---|
Home base
|
No.240, Sanshe Xinshi District, Tainan 7444, Taiwan, R.O.C. |
Established
|
1982 |
Capital
|
2,777 million Taiwan dollars |
Representative
|
Chia-Ming Yeh |
No. of employees to be hired
|
691 |
Business overview
|
Manufacture and sale of textiles and apparel |
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.