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|TNG pays special attention to making products that are green as well as stylish|
In October 2018, TNG recorded stronger financial performance than in the same period last year. The company achieved a revenue of VND313.8 billion ($13.49 million), up 39 per cent on-year. Gross profit totalled approximately VND54 billion ($2.32 million), an on-year increase of 43 per cent, while gross profit margin expanded to 17.1 from 16.2 per cent.
In the first 10 months of 2018, TNG recorded VND3.04 trillion ($130.72 million) in revenue and VND147 billion ($6.32 million) in gross profit, up 50 per cent compared to the corresponding period last year. After 10 months, TNG is on track to achieve its full-year earnings targets, surpassing its revenue target by 10.5 per cent and its after-tax profit target by 16 per cent.
TNG is well-prepared to seize new opportunities next year, capitalising on the wide range of free trade agreements Vietnam has signed like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA).
TNG has implemented highly innovative heat pressing technology to produce the shirts with elegant and exquisite designs. The technology employs heat to knit garments rather than using the conventional techniques of sewing and seams. With the fully automatic production line from Europe, it can directly produce finished products and shorten the production process by eliminating the fabric laying, cutting, and sewing process. TNG is the first in Vietnam to use heat pressing technology to produce shirts.
Furthermore, the garments are made of eco-friendly natural fabrics, such as modal and bamboo yarns. While modal yarns were made from ancient oak trees in northern Europe, bamboo yarns were produced from fast-growing bamboo sourced from Asian countries. The materials treated with nanotechnology provide natural anti-bacterial protection and excellent moisture-wicking properties, which makes them eight times more absorbent than cotton. Additionally, the clothes are not wrinkled and ruffled by use.
The materials are cool to wear and great for businessmen and office workers with busy schedules. They can save a great deal of time and effort on ironing. The materials are treated with advanced UV-resistance technology to protect the skin from harmful UV rays as well as assure long-lasting outdoor weathering.
TNG places an emphasis on ‘green’ fashion to promote sustainable development as well as meet customers’ sophisticated demand in the increasingly competitive market. Vietnam is becoming a magnet to more international fashion brands due to the country’s large population of 100 million people and rising disposable income.
Nguyen Van Thoi, TNG chairman, said that most of the company’s revenue comes from outsourcing for foreign fashion brands under the free-on-board method. Going forward, TNG has been switching to the original design manufacturer production method to increase the value of its products. As a result, TNG has recorded robust performance for its fashion business with double-digit revenue growth in the first 10 months of this year.
Unlike other local garment manufacturers, TNG adopts a different approach to drive growth by making significant investments with a professional and long-term vision. TNG has successfully implemented this philosophy for its outsourcing activities for foreign partners.
As a result, it not only boosts the performance and efficiency of the company, but also brings fruitful achievements. During the first 10 months, the company has surpassed its full-year growth targets.
TNG’s competitive edges do not lie only in its extensive experience and quality export products, but also in its strong support resources. TNG’s clothing range, including shirts, pants, T-shirts, office dresses, suits, and winter coats, are becoming more appealing to customers due to trendy and versatile designs with quality materials and affordable prices.
The company has been nurturing the ambition to bring the TNG brand to Asia, Europe, and the US over the next 10 years.
Thus, TNG Investment and Trading has been making serious efforts to achieve its sustainable development goals in order to break into these markets in the future.