Danish garment manufacturer Spectre opened its second textile factory worth over $5 million in the northern province of Nam Dinh to take advantage of the country’s fast-developing garment industry.
With the new factory, Spectre Vietnam JSC intends to expand the investment scheme for the upcoming factory in order to maximise business opportunities.
The Spectre factory, invested with 100 per cent capital from Spectre A/S from Denmark, was inaugurated in Hoa Xa Industrial Park (IP), Nam Dinh.
With a total staff numbering over 500, the factory’s main product lines include sportswear tailored for rock-climbing, running, jogging, cycling, and bow-hunting. This is the second Spectre textile factory in Vietnam following the first one in the northern province of Thai Binh.
Jesper Klausen, chairman of Spectre Nam Dinh, said that the factory started operations after seven months of construction. The entire output produced by the factory will be exported to Europe.
Having reviewed the investment potential of the Asian functional garment market, Spectre decided to invest in Vietnam instead of China.
“Nam Dinh province could meet the company’s requirements, such as accessible transport, skilled labour, and favourable conditions that the provincial authority specifically tailored for the project,” Jesper added.
“We plan to invest more in the factory in order to deepen the manufacturing scale of exported goods,” Jesper confirmed.
Charlotte Laursen, Danish Ambassador to Vietnam, said that the bilateral investment and commercial exchanges between the two countries are on a swift rise, constantly breaking annual trading records.
In addition, the Europe-Vietnam Free Trade Agreement (EVFTA), which is coming into effect at the end of next year, will continue supporting trade growth as well as further highlight the competitiveness of Spectre’s future products.
Founded in 1947, Spectre A/S is a medium and small-scale Danish garment manufacturing company. The business offers a wide range of sportswear, such as fleece jackets, softshell jackets, technical t-shirts, and accessories.
“We are capable of manufacturing almost 100 per cent of the fabrics and materials thanks to the company’s knowhow involving extensive technical demands of the products. Up to now, Latvia and Vietnam are the two countries where Spectre A/S mainly injects capital into manufacturing factories,” Jesper added.