Partnership brings benefits
Working closely with partners is woven into our DNA
At Coats partnership is a part of our DNA. We have been serving customers and playing a part in local communities for over 250 years. Our understanding of local markets is drawn from years of working around the world, building partnerships with local customers, suppliers, employees, communities and governments.
These strong partnerships establish trust and create opportunities for sharing ideas and know-how.
In our early days we were developing partnerships in the growth markets of the time such as the United States, India, Russia and China.
Nowadays we have commercial partnerships in places such as the Philippines, Sri Lanka, Vietnam and Bangladesh - putting us right at the heart of the Asia Pacific region.
In 2014 we celebrated 25 years of Joint Venture (JV) partnering in Bangladesh and Vietnam.
In Bangladesh our partnership is with a privately owned organisation, the AK Khan Group. When the partnership began in 1989 Bangladesh’s Ready Made Goods (RMG) textile exports were worth c. $0.6bn – today the sector is expected to export over $25bn.
During that time our operations have also grown, and we now have world class manufacturing sites in Chittagong, in the south east of the country, and Gazipur, near the capital Dhaka, which operate 24 hours a day, seven days a week - and in 2015 we will be opening a zips factory in Chittagong, creating more jobs and local opportunities.
In Vietnam Coats Phong Phu is one of the country's oldest JV partnerships and arguably one of the most successful. We work with the state-owned Phong Phu Corporation, one of Vietnam’s largest companies, and over the years we have received multiple Labor Medal awards from the Vietnam government to recognise the contribution made to business and communities.
Coats Phong Phu produces many of our newest and most innovative products in addition to flagship thread ranges such as Epic, Astra, Gramax and Gral. Over the years it has been a recipient of many internal Coats best practice awards.
As the Asia Pacific region continues to develop into a sophisticated consumer market, partnerships help us retain our competitive edge and identify the potential opportunities of tomorrow.