GOLDEN STAR COMPANY LIMITED

Golden Star Company Limited (Vietnamese name: Công ty TNHH Sao Vàng) is one of Vietnam’s major footwear manufacturers and exporters, headquartered in Hai Phong City, Vietnam. The company was established on May 19, 1998, and has been in continuous operation for more than 27 years, making it one of the most experienced players in the industry.

• Business ID: 0200288498

• Tax ID (TIN): 0200288498

• Head Office: No. 1166 Nguyen Binh Khiem Street, Dong Hai Ward, Hai Phong City, Vietnam

• Charter Capital: USD 26.66 million

• Employees: 17,000

• Legal Status: Limited liability company (LLC)

• Line of Business: Footwear manufacturing and related activities

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With a large workforce, multiple Hai Phong production sites, and a Quang Ninh Province branch, Golden Star has positioned itself as a key exporter within Vietnam’s booming footwear industry.

Leadership and Ownership

Golden Star is managed by an experienced leadership team combining both Vietnamese and international expertise:

• Chairman: Chatchawat Mitrchaiyanant (Thai)

• Director: Nguyen Kim Thuy (Vietnamese)

• Deputy Director: Le Van Dat (Vietnamese)

The company’s ownership structure includes both Vietnamese and foreign shareholders. Notably, Vietnamese investors hold a majority stake, with Nguyen Kim Thuy owning 30.61%, while Chatchawat Mitrchaiyanant holds 20.24%

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Financial Performance

Golden Star has maintained solid financial fundamentals despite global footwear supply chain market fluctuations.

• Total assets reached USD 82.36 million in 2023.

• Revenue increased steadily to USD 177.99 million, representing a 3.8% year-on-year growth.

• Profit rose to USD 255,631 after a challenging year in 2022.

• Equity remained stable at USD 27.43 million.

This financial performance reflects the company’s resilient export operations and effective management, despite a slight decline in asset value due to external market factors

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Production Capacity and Locations

Golden Star operates several large-scale manufacturing sites in Hai Phong City, including:

• An Trang Three-way Crossroads, An Lao Commune

• Area 6, Tien Lang Commune

• Branch in Uong Bi Ward, Quang Ninh Province

These facilities provide Golden Star with high-volume manufacturing capabilities, allowing the company to meet large export orders from international brands

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Business Activities

While footwear manufacturing remains the core business, Golden Star’s diversified operations include:

• Manufacture of footwear, leather goods, luggage, and textile products.

• Construction of industrial and civil engineering works.

• Wholesale of footwear, machinery, and textile equipment.

• Real estate activities with owned or leased property.

This multi-sector approach enhances its supply chain control and supports cost efficiency, which is crucial for maintaining competitiveness in global markets

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Strategic Position in the Footwear Industry

Golden Star Company Limited operates in a key export sector for Vietnam, which ranks second in the world for footwear exports, accounting for around 10% of global export volume.

The company benefits from:

• Vietnam’s 16 Free Trade Agreements (FTAs) provide tariff advantages.

• A skilled labor force at competitive costs.

• Proximity to deep-water ports in Hai Phong ensures efficient logistics.

Golden Star’s longstanding relationships with international buyers and its scale of operation give it a strong foothold in the U.S., EU, and other major markets.

Future Outlook

Golden Star is expected to benefit from Vietnam’s growing role as a global manufacturing hub. With export demand for footwear expanding and international brands diversifying supply chains away from China, companies like Golden Star are well-positioned for further growth.

Strategic focuses for the coming years include:

• Enhancing green manufacturing standards.

• Increasing localization of raw materials to reduce costs.

• Expanding production capacity to meet global order volumes.

• Strengthening market penetration in the EU, North America, and emerging markets.

Conclusion

Golden Star Company Limited is one of Vietnam’s most established footwear manufacturers. It combines a long operational history, solid financial performance, and large-scale production capacity. Its integration into global value chains and ability to adapt to market changes have made it a key contributor to Vietnam’s footwear export success.

As the industry targets USD 29 billion in total exports for 2025, Golden Star is well-positioned to play an increasingly important role in Vietnam's footwear sector's sustainable and competitive growth.