With over three decades of experience, THUAN PHUONG EMBROIDERIES GARMENTS COMPANY LIMITED(CÔNG TY TNHH MAY THÊU THUẬN PHƯƠNG) is one of Vietnam’s oldest and most established garment manufacturers. Based in Ho Chi Minh City and employing a workforce of 6,600, the company is a household name in Vietnam’s textile export scene.

Steady Assets, Resilient Equity—Despite Market Headwinds

As of 2023, THUAN PHUONG recorded:

• USD 134.12 million in sales

• USD 100.02 million in total assets

• USD 24.3 million in owner’s equity

• USD 18.47 million in net worth

Although its net profit fell sharply in 2023—down to just USD 187,022—the company maintained solid asset and equity levels. The slight dip in total sales (-8.49%) is notable but not uncommon amid global apparel market fluctuations.

A Family-Owned Enterprise with Multi-Generational Leadership

THUAN PHUONG remains privately held with major shares owned by Vietnamese individuals, particularly from the Mai and Dang families. The General Director, Mr. Mai Duc Thuan, is supported by family members in other key executive roles, ensuring continuity, trust, and deep sector expertise.

Extensive Manufacturing Capacity Across Southern Vietnam

The company operates multiple factories in Ho Chi Minh City and Long An Province, giving it flexible and scalable production capabilities. It specializes in:

• Garment manufacturing and embroidery

• Finishing of textiles

• Wholesale of clothing and accessories

Additionally, it is involved in logistics, preschool and primary education services, and real estate leasing—making it one of the most diversified textile firms in Vietnam.

Why Stakeholders Should Pay Attention

THUAN PHUONG’s longevity, scale, and multi-sector registration make it a key supplier and partner in Vietnam’s garment supply chain. For importers, investors, and risk analysts, understanding this company’s internal structure and financial resilience is essential.