Stripe International, the Japan-based garment manufacturing firm, is fast spreading its wings all across Vietnam.
Ever since its acquisition of NEM Group, the Vietnam-based local apparel company has been witnessing immense popularity, under the NEM brand, among local population especially among working women in the age group from 20s to 40s.
Stripe in its bid to become the leading apparel supplier in Vietnam, plans to open 23 more stores in 2019 all over Vietnam. After continual focus on Hanoi, it will now be focusing on other cities like Ho Chi Minh City and Da Nang in 2019.
Stressing on the expansion plans, Tsutomu Harigae, General Director and CEO, Stripe Vietnam, said that development of small cities will bring offices too and it is here that Stripe is foreseeing opportunities for new stories.
In its endeavour to lure the middle class in smaller cities, Stripe also intends to start a new brand that will be 10 per cent cheaper than current brands.
The firm is also keen to capture the top spot in terms of value too, with its sales expected to shoot up by 30 per cent on the year to clock US $ 46.4 million. Stripe also made it clear that it will send personnel from Japan to further enhance the sewing skills of Vietnam’s garment workers.