Hung Yen Garment Joint Stock Company: Trademark begins with domestic market

Hung Yen Garment Joint Stock Company: Trademark begins with domestic market

In 2004, Hung Yen Garment Joint Stock Company was one of 18 successful enterprises of  Vietnamese garment industry elected by Saigon Economic Times and Vietnam Business Association. VIB Forum talked to Mr Nguyen Xuan Duong, Chairman of Management Board and Director General of the company:

Could you give some information on the company especially after equitisation ?

Hung Yen Garment Company was established in 1966. It is an experienced company in the garment industry. This advantage has helped the company retain stable development and a good reputation among partners. Equitisation has produced a positive impact on managers, workers and production. At present, the company has 7 member enterprises, two joint ventures and nearly 5,000 workers. The turnover was US$35.6 million in 2004 and will be US$42.5 million in 2005.

Would you explain further your orientation after equitisation ?

The long-term goal of the company is to maintain its foothold by continuing traditional partnership, increasing exports to the US and Japan and then the EU, focusing on spearhead products namely jackets and pants. The outlet of the company is 40 per cent to the US, 30 per cent to Japan, 20 per cent to EU and the rest to other markets. The company is developing specialised production, each enterprise with a special product.  Like others, Hung Yen Garment Company must be dynamic in developing products and markets.

How important is the trademark for your company?

The development of trademark is a long-term problem. It requires financial resources, infrastructure and correct strategy. So far, the trademark of Vietnamese garments is still under the umbrella of famous world trademarks of trans-national corporations. In the long run, Hung Yen garment company must also develop its own trademark in the Vietnamese garment sector. Therefore, the company will begin a strong trademark in Vietnam and neighbouring countries: China and ASEAN. For export products, in the initial stage, we will ask for registration such as Made in Huga Co. Vietnam. It will begin the development of a Vietnamese trademark. I believe that other enterprises can do the same and can be successful during economic integration.

• Reported by Luu Hiep