Coats consolidates Vietnam footwear activities under one entity
- 30 Jun 2023
Coats Group plc, the world’s leading manufacturer in thread and structural components for apparel and footwear, as well as an innovative pioneer in performance materials, has consolidated its footwear activities in Vietnam. To mark the occasion, Rajiv Sharma, Group Chief Executive, attended the Coats Footwear Vietnam Ltd. inauguration ceremony.
Rajiv Sharma, Group Chief Executive, said: "Coats Footwear Vietnam has been established as an integrated business that reflects our combined expertise in the footwear market. This includes the Coats footwear threads and the acquisitions of Texon and Rhenoflex."
With the acquisitions of Texon and Rhenoflex in 2022, Coats has become a global market leader in footwear components, complementing its global leadership in threads. Sustainability and innovation are at the heart of Texon and Rhenoflex, aligning with Coats’ strategy. To drive focus and clarity, the company announced the creation of a new Footwear division that will sit alongside Apparel and Performance Materials earlier this year.
Coats have been operating in Vietnam since 1989 in two large thread factories in Ho Chi Minh City and Hung Yen Province. Its manufacturing footprint has been strengthened through the acquisition of Texon and Rhenoflex, including two state-of-the-art structural components factories.
Adding to Coats’ already large customer base and footprint in Vietnam, the consolidated footwear business will provide a single point of contact for its footwear threads and structural components customers. In addition, we have new processes and printing technologies that enable customers to receive a highly sustainable, ready-to-use product which is produced waste free and has a 50% reduced CO2 footprint.
ENDS
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Coats Press Office
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Notes to Editors
About Coats Group plc
Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data, and the environment. Headquartered in the UK, Coats is a FTSE250 company and a FTSE4Good Index constituent. Revenues in 2022 were $1.6bn.
Trusted by the world's leading companies to deliver vital, innovative, and sustainable solutions, Coats provides value-adding products, including apparel, accessory and footwear threads, structural components for footwear and accessories, fabrics, yarns, and software applications. Customer partners include companies from the apparel, footwear, automotive, telecoms, personal protection, and outdoor goods industries.
With a proud heritage dating back more than 250 years and a spirit of evolution to constantly stay ahead of changing market needs, Coats has operations across some 50 countries with a workforce of over 17,000, serving its customers worldwide.
Coats connects talent, textiles, and technology to make a better and more sustainable world. Worldwide, there are three dedicated Coats Innovation Hubs, where experts collaborate with partners to create the materials and products of tomorrow. It participates in the UN Global Compact and is committed to Science Based sustainability targets for 2030 and beyond, with a goal of achieving net-zero by 2050. Coats is also committed to achieving its goals in Diversity, Equity & Inclusion, workplace health & safety, employee & community wellbeing, and supplier social performance.