Lectra is continuing its development plans in Asia.
The integrated technology solutions leader announced Thursday that its new subsidiary, Lectra Vietnam, opened in Ho Chi Minh City on July 1. Lectra has been present in Vietnam for more than 20 years and represented by its agent, Ly Sinh Cong Trading Service Company (LSC), for the past 12. Lectra Vietnam will take over LSC’s team and financial assets.
“Thanks to 5.5% growth in the first quarter of 2016, Vietnam is one of Southeast Asia’s most dynamic countries. It is a top choice for manufacturers who focus on production costs and brands seeking to diversify supplies,” said Lectra CEO Daniel Harari. “The transpacific agreement signed in February 2016 will reinforce the attractiveness of the country, where Lectra has many customers, including very large Asian companies.”
Lectra Vietnam will help the nation’s companies utilize its advanced technology, form international connections and increase sales among other local industry members.
“Lectra Vietnam’s objective is to help Vietnamese companies implement Lectra’s technologies that have demonstrated their worth in Asia and across the globe, and to accompany locally established foreign groups in the country,” said Yves Delhaye, managing director of ASEAN, Australia, India and South Korea. “This opening will boost Lectra’s expansion in Southeast Asia and reinforce synergy in sales with the company’s other subsidiaries in the region.”
The new subsidiary will foster Vietnam’s apparel industry as well. In 2014, clothing exports reached $21 billion and are predicted to grow by eight percent ($29.5 billion) this year. Low manufacturing costs also helped establish the 6,000 Chinese, South Korean, Japanese and Taiwanese apparel and textile companies in the country.
“Several of our Chinese and South Korean apparel customers manufacture a portion of their production in Vietnam. They are very interested in innovative solutions to improve the quality of their products, the efficiency of their operations and the productivity of their factories,” said Delhaye. “Lectra will be there to help develop their production.”