Recently, it is reported that underwear and swimwear maker Triumph International will be cut by the end of August its Thai subsidiary of 1,900 workers. Triumph believes that global consumer demand decline, a move in line with the company's global restructuring plan. It is reported that Triumph will not produce swimwear in Thailand, while the transfer of production capacity to other factories.
Meanwhile, foreign news showed that due to business strategy adjustments, Triumph will also close its two factories in Manila, Philippines, 1662 local employees will be dismissed. According to reliable sources, Triumph, due to the sluggish consumption, has cut sales plans in various regions including China since the beginning of this year.
Analysts believe that the Philippine, Thailand's high-end underwear consumer market downturn, poor performance is Triumph closed the main reason for the production line, while the original production capacity of these factories is expected to be transferred to the Chinese factory. For the above speculation, Triumph (China) headquarters in an interview with the "Daily Economic News" yesterday said that no such notice has been received, the Chinese companies are only responsible for marketing in China, the production decisions are generally made by the headquarters.
It is understood that Triumph in the world there are 13 factories, mostly in Asia, China's two plants account for 20% of capacity. Most Triumph products manufactured in China are sold overseas, with very few domestic sales in China, with annual retail sales of about 1 billion yuan.