Amazon’s Vietnamese partner reports surge in profit
It reported record revenues of VND3.45 trillion ($150 million), up 36 percent from 2019, and net profits of VND308 billion for the year.
Gilimex’s main products are handbags and backpacks.
Gilimex has high-value contracts with international retailers. Shipping containers seen at a port in Ho Chi Minh City. |
It tied up with Amazon, the world's largest online retailer, in 2016 and seen average revenues grow at 20 percent a year since then.
Its other large foreign partner is Swedish furniture retail giant IKEA with whom it has eight long-term contracts worth $16.2 million.
The firm also develops new products for Dutch baby products maker Bugaboo and Puma, the German multinational that manufactures athletic and casual footwear, apparel and accessories.
Source: VnExpress
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