Danish workwear maker Mascot_International has opened a new 10 million dollar factory and bonded warehouse in Tan Truong Industrial Park in Vietnam’s northern Hai Duong province.
The company has leased another five hectares in the industrial zone for future expansion.
Mascot said in a statement that the factory will employ 650 people when it is fully operational.
“We have been active in the Far East for about a decade, so now we have gone the whole length and combined several connected activities in an industrial zone near Hanoi,” said managing director Michael Grosbøl.
The factory will bring Mascot’s raw material store, specialist production and quilt factory close to its production facilities.
Sales, stock of finished goods and all administrative functions remain in Denmark.
Grosbøl adds: “It is completely new for us to have our own production out there. However, another reason for locating ourselves in Vietnam is that we are very focused on improving our products and the lower wages enable us to undertake product development without significantly increasing costs.”