The world's largest garment buyer visit Tanzania to explore investment opportunities

[Pascal Mayalla]

Press Release​

6[SUP]nd[/SUP] November 2015

THE WORLD?S LARGEST GARMENT BUYER ARRIVES IN TANZANIA TO EXPLORE INVESTMENT OPPORTUNITIES IN GARMENT PRODUCTION

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The Tanzania Investment Centre (TIC) in collaboration with the Textile Development Unit (at the Ministry of Industry and Trade) recently welcomed VF Corp. investors to Tanzania. A team from VF Corp?s Hong Kong sourcing office is currently visiting Africa and visited Tanzania last Sunday.

The team included the Managing Director of product supply, VP of Sourcing, Merchandising director and the strategic engineer based in Tanzania. Organized in 1899, VF Corporation is a global leader in branded lifestyle apparel, footwear and accessories, with more than 30 brands, 60,000 associates and $ 12.3 billion in revenue. Their businesses and brands are organized into five categories called coalitions, comprising: outdoor & action sports, jeanswear, imagewear, sportswear and contemporary brands. While VF is highly diversified across brands, products, distribution cannels and geographies, their culture and approach to doing business provide a unique and powerful competitive advantage.

Their brands include: Wrangler, Lee Jeansand Nautica amongst many others. Currently VF Corporation is placing orders in one factory in Tanzania and is considering expanding their buying from other sewing factories in Tanzania. As part of the visit, these investors have reviewed the investment climate in Tanzania with a view to possibly encouraging some of their other factories around the World to consider Tanzania as a new garment origin.

Presentations were made to them by representatives of some of the existing sewing and textile factories, industrial zones, as well as the new textile and fashion course at the University of Dar Es Salaam and from the TRA, TIC, TCB, EPZA, NDC, TCCIA and the new garment association TEGAMAT. VFC has an exemplary record for ethical and environmentally-sound sourcing in both its own factories in the Caribbean and also with its subcontractors.

Indeed, some of those sub-contractors? have a very close relationship with VFC called The Third Way.

The Tanzania Investment Centre encouraged these investors to consider Tanzania as their next destination in Africa due to friendly business environment underwritten by good investment policy and legislation, geographic location which makes her as a natural regional business hub, sizeable market of 48 million people, availability of raw materials, availability of semi skilled and skilled labour force and above all the country is peaceful and stable.

ENDS
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Issued by: Tanzania Investment Centre
Release date: November 3[SUP]rd[/SUP] November 2015

 

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