Initiatives with strong Chinese partners
Strengthen initiatives with strong local partners
Ahead of other Japanese companies, we established a foothold in China in 1972. Since then, our first strategic priority has always been relationship-building with leading local partners centering on ITOCHU TEXTILE (CHINA) Limited (hereinafter ITS). In 2015, ITOCHU formed a business tie-up with a down wear manufacturer and distributor Bosideng International Holdings Limited, a down wear manufacturer and distributor and have been strengthening our sales in China. As for the Asian region, we are strengthening our sourcing functions and expanding businesses within the region through ITOCHU TEXTILE PROMINENT (ASIA) LTD. (hereinafter IPA) based in Hong Kong.
Further in 2015, ITOCHU formed a capital and business alliance with Vietnam National Textile and Garment Group (hereinafter VINATEX) through IPA. VINATEX is the largest textile group in Vietnam, which is considered to be a large manufacturing base for the apparel sector following China. Together with VINATEX, ITOCHU will build upstream to downstream value chains in Vietnam and the ASEAN region.
Going forward, ITOCHU will continue to strengthen our ties with leading local partners centering on ITS and IPA, and work to build a production system in optimal locations in China and the entire Asian region, in addition to expanding sales of clothing in Europe, the United States, and the Asian region, including Japan and China.