US garment firm expands
An American garment company is eyeing the expansion of its operations here in anticipation of the passage of a US bill giving preferential duty treatment on Philippine garments made from US apparel.
Fe Agoncillo-Reyes, trade assistant secretary and head of the Garments and Textiles Industry Development Office (GTIDO), said Ace Style, makers of lingerie, is beefing up its employees by another 900.
Ace Style has been manufacturing ladies lingerie in the Philippines for the past 20 years, producing 3.2 million pieces per month for brands like Victoria’s Secret, Marks & Spencer, Dillards, Saks Fifth Avenue, Neuman Marcus, Waldorf and Le Mystere. It employs 8,000 people and ships out $150 million worth of lingerie a year.
Ace Style also keeps a factory in China.
Marites Agoncillo, executive director of the Confederation of Garment Exporters of the Philippines Inc., said the additional 900 workers would meet seasonal surge for three to six months.
"The good news is that with orders from American buyers picking up, these additional workers could have their jobs for a much longer period," Agoncillo said.
Agoncillo said passage of the US bill could lead to some American manufacturers shifting part of their production here.
According to Agoncillo, a buyer for major department stores that sell lingerie for at least $50 to $100 per piece said he prefers Philippine-made undergarments because the craftsmanship is better.
The bill, dubbed as Save Our Industries Act, is authored by Rep. Jim McDermott.-Irma Isip
More on Business
- Gov’t likely to breach budget gap goal: Teves
- WB sees growth this year; typhoons to increase poverty incidence
- Advance tax payments eyed
- Daewoo, Vinafood lowest bidders at NFA rice tender
- Gov’t talking with 3 groups for FTI sale
- No Samurai bond float this year
- US garment firm expands
- Biofuels board backs tariff hike on ethanol
- SMWC offers to supply bulk water
Search
BUSINESS INSIGHT
‘Officials of the state have long known that it is the impermanence of policies that discourages foreign direct investments.’