Garmex Saigon

What Garmex Saigon does

Garmex Saigon Corporation (HoSE:GMC, delisted) is a Vietnam-based cut-and-sew apparel manufacturer founded in 1976 as a state-owned enterprise and privatized in 2004 with the State retaining a 10% stake. The company operates five wholly-owned garment factories across Ho Chi Minh City (An Nhon, An Phu, Binh Tien), Vung Tau (Tan My), and Quang Nam Province, with a combined footprint exceeding 10 hectares, 70+ production lines, and a 4,000+ worker workforce. Its product portfolio is split into a hi-tech line — featuring 3-Layer Seam Tape Jackets, Down Jackets, Bonding Jackets, and Padding Jackets with advanced wind- and water-proof construction — and a regular line spanning insulated jackets, fleece, shirts, ski pants, khakis, golf skirts, and seamless shorts.

The business model is B2B contract manufacturing for global apparel brands, with no own-brand retail or direct-to-consumer motion. Pricing is quote-based per contract and not publicly disclosed. Customers are enterprise international brands including Columbia Sportswear, Decathlon, The North Face, Descente, Dickies, Craft, Cutter & Buck, Le Coq Sportif, Seeland, Topo Design, Outfit International, and Stip, serving end markets across sportswear, outdoor apparel, workwear, and golf. Exports reach the USA, Europe, Russia, Japan, and China. Reported 2018 revenue was approximately $87.8M USD; recent-year financials (2023-2025) indicate operating losses and EBITDA deterioration, and the company is marked as delisted, signaling material financial stress not visible in the pre-2020 operating narrative.

Name

Garmex Saigon

Legal name

Garmex Saigon Corporation

Website

https://garmex.vn

Company type

Public

Founded year

1976

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Garmex Saigon Corporation is a Vietnamese contract apparel manufacturer operating five factories and 70+ production lines with 4,000+ workers, producing technical outdoor jackets and regular apparel for global brands including Columbia, Decathlon, The North Face, and Dickies.

Ownership category

akta.pro rank

Product category

Apparel Manufacturing

NAICS

Cut and Sew Apparel Manufacturing (3152), Cut and Sew Apparel Manufacturing (except Contractors) (31525)

SIC

Apparel & Other Finishd Prods Of Fabrics & Similar Matl (2300), Women's, Misses', And Juniors Outerwear (2330), Knit Outerwear Mills (2253)

akta.pro primary industry

Outerwear & Performance Apparel Cut & Sew (IMAOAEAB)

akta.pro secondary industries

Workwear, Uniforms & Safety Apparel Cut & Sew (IMAOAEAC), Outerwear & Cold-Weather Apparel Manufacturers (CRAAAAAI)

Keywords

• Cut and sew apparel
• Garment manufacturing
• Outdoor jacket production
• Contract apparel manufacturing
• Technical sportswear

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Apparel Manufacturing Services: B2B contract manufacturing of apparel for international brands. Revenue generated through production contracts for various garment types including high-tech performance wear and regular apparel. The company operates as a long-term partner to brands rather than a one-time supplier.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Garmex Saigon Corporation is a leading Vietnamese garment manufacturer specializing in cut and sew apparel production for global brands. The company operates 5 factories across Vietnam (in Ho Chi Minh City, Vung Tau, and Quang Nam) with more than 70 production lines and over 4,000 workers, producing both hi-tech performance apparel (3-layer seam tape jackets, down jackets, bonding jackets, padding jackets) and regular apparel (insulated jackets, fleece, shirts, ski pants, khaki pants, skirts, seamless shorts).

Product overview

Garmex Saigon Corporation is an apparel manufacturing company offering two product categories: Hi-tech products and Regular products. Hi-tech products include 3 Layers Seam Tape Jacket, Down Jacket, Bonding Jacket, and Padding Jacket, all featuring advanced wind-proof and water-proof technologies for high-performance outdoor wear. Regular products encompass a broader range including Insulated Jacket, Seam Jacket, Travel Jacket, Fleece Jacket, Shirts (long and short sleeve), Ski Pants, Khaki Pants, Skirt (golf skirts), and Seamless Shorts. The company operates as a contract manufacturer supplying high-quality apparel to global brands including Columbia, Decathlon, The North Face, Descente, and Dickies.

Differentiator

Problem solved

Functional benefit

Products and services

• Hi-Tech Performance Apparel
• Regular Apparel

Quantifiable outcome

• Delivering high quality products to global clients

Named customers12 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators10 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Eclat Textile Co., Ltd. Taiwan-listed apparel OEM specializing in performance and athletic wear for brands including Nike, Under Armour, and Lululemon. Comparable in technical apparel manufacturing capabilities and premium brand customers.
• Tainan Enterprises: Taiwan-listed contract apparel manufacturer producing sportswear and outerwear. Comparable as an OEM specializing in technical/sportswear categories for global brand customers.
• TNG Investment and Trading JSC: Vietnamese-listed contract garment manufacturer producing outerwear, sportswear, and casual apparel for global brands. Most direct comparable given similar Vietnam OEM business model, customer base, and product mix.
• Hansae Vietnam: Korean-owned large-scale apparel OEM with major production base in Vietnam serving global brands. Comparable in Vietnam OEM business model, scale, and B2B contract manufacturing focus.
• Song Hong Garment JSC: Vietnamese garment manufacturer producing for export markets. Comparable contract manufacturing model operating from Vietnam serving international apparel brands.
• May 10 Corporation (Hapaco): Vietnamese state-origin garment manufacturer producing for export. Comparable in scale, Vietnam-based OEM operations, and global brand customer base.

Broad incumbents

• Pou Chen Corporation: Taiwan-listed world's largest athletic and casual footwear/apparel manufacturer serving Nike, Adidas, and others. Comparable in scale of contract manufacturing operations and global brand portfolio.
• Vinatex (Vietnam National Textile and Garment Group): Vietnamese state-owned textile and garment conglomerate owning multiple apparel manufacturers. Comparable as a major Vietnamese apparel manufacturing group, though broader in scope.
• Crystal International Group: Hong Kong-listed global apparel manufacturer with multi-country footprint producing for major brands. Comparable in OEM model, brand customer base, and product breadth including outerwear categories.
• Shenzhou International Group: Largest knitwear manufacturer in China serving Nike, Uniqlo, Adidas and others. Comparable as a large-scale contract apparel manufacturer with strong technical capabilities and global brand relationships.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Garmex Saigon