TBS Group

What TBS Group does

TBS Group (Công ty Cổ phần Đầu tư Thái Bình / Thai Binh Investment Joint Stock Company) is a privately held Vietnamese industrial conglomerate founded in 1989, headquartered in Dĩ An, Bình Dương province, operating across six business pillars: industrial footwear manufacturing, industrial handbag/backpack manufacturing, real estate and industrial infrastructure investment, port and logistics services, hospitality and tourism, and retail distribution. The company employs over 50,000 workers across 10 Vietnamese provinces and 3 countries, ranking among Vietnam's top 5 footwear manufacturing groups. TBS operates as a B2B contract manufacturer serving global fashion and athletic brands, with strategic manufacturing partnerships spanning 18-30 years with Decathlon, Skechers, Reebok, and Coach. Production capacity reaches 25 million pairs of footwear annually across 33 production lines and over 10 million handbag/backpack units annually.

The company operates vertically integrated industrial infrastructure, including a 5,000 m2 footwear R&D center, dedicated brand R&D facilities (e.g., Reebok Vietnam office opened 2022), and the ICD TBS Tân Vạn inland container depot with 220,000 m2 of warehouse space and 60,000 TEU container capacity, strategically positioned in the Southern Vietnam economic quadrangle. TBS's technology stack centers on lean manufacturing principles augmented by digital management systems, including a digital Gemba Walk platform on Webapp/AppSheet with real-time KPI monitoring, Pilot Line optimization achieving 98% line balancing and 8% labor productivity gains, and proprietary waste management systems handling up to 1,500 m3/day of separated domestic and industrial sewage. Sustainability investments include solar energy systems at Thoại Sơn and Kiên Giang factories, Thermo Tec warehouse coatings reducing energy consumption by 15%, and ISO 9001:2015 certification achieved in 2026 with Bureau Veritas.

Revenue is generated primarily through contract manufacturing (transaction-fee model) based on production volumes for global brand partners, supplemented by managed-services revenue from logistics/warehousing operations, real estate development via TBS Land subsidiary, hospitality operations (Mai House Saigon 5-star hotel, Montgomerie Links Golf Club), and retail distribution of international brands including ECCO footwear across Vietnam via physical stores and e-commerce platforms (Shopee, Lazada, Tiki). TBS reported a stated Vision 2030 average revenue growth target of 15% per year for the 2025-2030 period. The company is transitioning from concentrated development to a production-chain operating model under Chairman Nguyễn Đức Thuấn's leadership since founding.

Name

TBS Group

Legal name

TBS Group

Website

https://tbsgroup.vn

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

TBS Group is a privately held Vietnamese industrial conglomerate founded in 1989 that manufactures footwear and handbags under long-term contract partnerships with global brands including Skechers, Decathlon, Reebok, and Coach, while also operating logistics, real estate, hospitality, and retail businesses across Vietnam with 50,000+ employees.

Ownership category

akta.pro rank

Product category

Contract Manufacturing (Footwear & Handbags)

NAICS

Footwear Manufacturing (3162), Footwear Manufacturing (316210), Footwear Merchant Wholesalers (42434)

SIC

Footwear, (No Rubber) (3140), Sporting & Athletic Goods, Nec (3949)

akta.pro primary industry

Footwear Manufacturing (OEM/ODM & Private Label) (CRAAACAJ)

akta.pro secondary industry

Work, Safety & Occupational Footwear Retail (CRAAADAD)

Keywords

• Contract manufacturing
• Footwear manufacturing
• Handbag manufacturing
• Industrial logistics
• Real estate development

Headquarters

HQ city

Hai Duong

HQ country

Vietnam

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Industrial Footwear Manufacturing: Contract manufacturing of branded footwear for international partners including Skechers, Decathlon, Reebok, and other global athletic and casual footwear brands. Revenue based on production volumes and product complexity.
2. Industrial Handbag Manufacturing: Contract manufacturing of handbags and backpacks for brands including Coach, Decathlon, and international fashion houses. Production capacity exceeding 10 million units.
3. Real Estate Investment and Development: Investment, development, and management of industrial infrastructure, industrial zones, residential and commercial real estate projects through TBS Land subsidiary.
4. Logistics and Port Services: ICD TBS Tân Van logistics center providing warehousing (220,000 m2), container storage (60,000 TEU capacity), and supply chain management services. Located strategically in Southern Vietnam economic quadrangle.
5. Hospitality and Tourism: Investment and management of hotel chains, resorts, and golf courses including Mai House Saigon (5-star) and Montgomerie Links Golf Club.
6. Retail Distribution: Distribution of international fashion brands in Vietnam, including ECCO comfort footwear. Distribution system across Vietnam with e-commerce presence on major Vietnamese platforms.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

TBS Group is a Vietnamese industrial conglomerate operating six business pillars: industrial footwear manufacturing (25 million pairs/year), industrial handbag manufacturing (10M+ units/year), industrial real estate and infrastructure investment, port and logistics services (220,000 m2 warehouse, 60,000 container capacity), hospitality and tourism (5-star hotels, golf resorts), and retail distribution of international fashion brands. Its core is contract manufacturing of branded footwear and handbags for global partners including Skechers, Decathlon, Reebok, Coach, and ECCO.

Product overview

TBS Group operates as a diversified Vietnamese conglomerate with six core business pillars: (1) Industrial Footwear Manufacturing with 25 million pairs/year capacity and 17,000 workers, (2) Industrial Handbag Manufacturing with 20% annual growth rate, (3) Real Estate & Industrial Infrastructure Investment and Management, (4) Port & Logistics (ICD TBS Tân Vạn with 220,000m2 warehouse and 60,000 container capacity), (5) Hospitality & Tourism (including Mai House Saigon hotel and Montgomerie Links Golf Club), and (6) Retail & Distribution of international fashion brands including ECCO. The group has expanded internationally with operations in 10 provinces across Vietnam and 3 other countries, employing approximately 50,000 workers and maintaining strategic partnerships with 8 global fashion brands including Decathlon, Skechers, Reebok, and Coach. TBS Group is transitioning toward Smart Manufacturing with digital transformation initiatives including Gemba Walk digitalization and centralized data systems for future AI adoption.

Differentiator

Problem solved

Functional benefit

Brands

• TBS Land: Real estate development subsidiary focusing on industrial and residential property, urban development integrated with public transport (TOD model), ranked in Top 100 Strong Vietnamese Brands 2021.
• Mai House Saigon
• Montgomerie Links Golf Club
• ICD TBS Tân Vạn
• TBS SOLE
• TBS Retail

Products and services

• Industrial Footwear Manufacturing Contract manufacturing of branded footwear for international partners including Skechers, Decathlon, Reebok, and other global athletic and casual footwear brands. Annual production capacity of 25 million pairs across 33 production lines.
• Industrial Handbag Manufacturing Contract manufacturing of handbags and backpacks for international brands including Coach and Decathlon. Production capacity exceeding 10 million units with 20% average annual growth rate.
• Real Estate and Industrial Infrastructure Investment Investment, development, management and operation of industrial infrastructure, industrial zones, and industrial/residential real estate projects through TBS Land subsidiary, including urban-TOD integrated developments.
• Port and Logistics Services (ICD TBS Tân Vạn) ICD TBS Tân Vạn inland container depot and logistics center providing warehousing (220,000 m2), container storage (60,000 TEU capacity), and integrated supply chain management services for manufacturing clients.
• Hospitality and Tourism Services Investment, development, management and operation of hotel chains, resorts, and premium golf courses in Vietnam, including Mai House Saigon (5-star hotel) and Montgomerie Links Golf Club.
• Retail Distribution of International Fashion Brands Distribution of international fashion brands in Vietnam, including ECCO comfort footwear, through physical retail stores and e-commerce platforms (Shopee, Lazada, Tiki).

Quantifiable outcome

• 98% line balancing rate achieved with Pilot Line model
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Eight partnerships are on record, tiered flagship and core.

• DecathlonflagshipStrategic or Co-development Partner · 25 June 202630-year strategic partnership milestone (1996-2026). TBS manufactures footwear and handbags/backpacks for Decathlon. Decathlon is the world's largest sporting goods retailer based in France. Major customer for TBS industrial manufacturing operations.
• Bureau VeritascoreTechnology or Integration · 1 June 2026International testing, inspection, and certification (TIC) organization. Bureau Veritas partnered with TBS Group and Decathlon to deliver ISO 9001:2015 quality management system training. Founded in France in 1828, Bureau Veritas provides certification services for TBS quality standards implementation.
• TP Dĩ An (Bình Dương)coreOthers · 22 April 2025TBS Group signed cooperation and investment promotion agreement with Dĩ An city government. TBS has operated in Bình Dương for 35+ years and committed to continued investment in real estate, green industrial zones, logistics services, and civil construction projects.
• SkechersflagshipStrategic or Co-development Partner · 9 May 202418-year strategic manufacturing partnership (since 2005). TBS produces athletic and casual footwear for Skechers, achieving milestone of 100 millionth pair in May 2024. Skechers is the world's third-largest footwear company headquartered in the USA. TBS was Skechers' first manufacturing partner in Vietnam.
• Hiệp hội Da giày – Túi xách Việt Nam (Lefaso)coreOthers · 10 April 2024TBS Group Chairman Nguyễn Đức Thuấn serves as President of Lefaso (Vietnam Leather and Footwear Association). TBS Group collaborates with Lefaso on industry development initiatives and receives government delegations.
• ReebokcoreStrategic or Co-development Partner · 5 December 2022Partnership since 1997. TBS and Reebok inaugurated Vietnam representative office and R&D center in December 2022. Reebok is under ABG (Authentic Brands Group). Original partnership began 27 years prior to 2022.
• Nam Long GroupcoreStrategic or Co-development Partner · 1 December 2021Strategic cooperation agreement signed end of 2021. TBS Land and Nam Long Group partnership for real estate development collaboration.
• CoachcoreStrategic or Co-development Partner · 1 January 2011Strategic partnership since 2011 for handbag manufacturing. TBS became the first Vietnamese company to manufacture products for Coach luxury brand. Partnership led by Chú Diệp Thành Kiệt and Anh Tuấn.

Scale indicators11 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Eclat Textile Co., Ltd. Taiwan-listed vertical knitting-to-garments manufacturer with growing footwear and brand business, including long-term partnerships with global athletic brands. Comparable to TBS in serving premium global footwear brands via Asia-based contract manufacturing.
• Pou Chen Corporation: Taiwan-listed global contract footwear manufacturer producing for Nike, Adidas, Asics, Reebok, and other major brands across China, Vietnam, Indonesia, and Bangladesh. Direct OEM peer to TBS given shared customer base (e.g., Reebok) and shared focus on Vietnam-based production.
• Yue Yuen International Holdings: World's largest branded athletic and casual footwear manufacturer by production volume, with massive OEM/ODM operations across China, Vietnam, Indonesia, and other Asian geographies. Directly comparable as a contract footwear manufacturer serving Nike, Adidas, Asics, Reebok, and other global brands; Yue Yuen's scale and customer mix map closely to TBS's footwear franchise.
• Huali Industrial Group: Major Chinese footwear OEM publicly listed in Hong Kong, producing athletic, casual, and outdoor footwear for global brands including Deckers (UGG/HOKA) and others. Direct competitor to TBS in the Vietnam/China OEM footwear space and a benchmark for OEM scale economics.
• Chang Shin Vietnam (Skechers-adjacent supplier): South Korea-headquartered global footwear OEM with substantial Vietnam manufacturing footprint producing athletic and casual shoes for global brands. Direct peer to TBS in serving athletic/casual global brands from a Vietnam production base.
• Stella International Holdings: Hong Kong-listed developer and manufacturer of branded footwear, primarily for casual and fashion brands, with significant Vietnam production. Comparable to TBS in serving fashion-brand customers (including Coach-adjacent premium labels) and operating Vietnamese manufacturing capacity for global brands.
• Feng Tay Enterprises: One of the world's largest athletic and casual footwear OEMs, manufacturing primarily for Nike and serving as a benchmark for Vietnam/Indonesia contract footwear production. Closely comparable to TBS in customer profile (Skechers-relevant global athletic brands) and Vietnam-based operations.

Broad incumbents

• Far Eastern New Century: Taiwan-listed diversified conglomerate covering polyester, textiles, garment/footwear manufacturing, and real estate/industrial parks. Comparable to TBS in the combination of polyester/textile-to-footwear supply chain plus industrial park (real estate) operations, though at a much larger and more diversified scale.

Emerging players

• Samsonite International: Global luggage and bag brand that operates and contracts manufacturing capacity in Asia. Relevant comparable for TBS's handbag division as a customer-class peer sourcing contract-manufactured bags in Vietnam and the region.
• Regent Global Group (Reebok-era supplier): Vietnamese footwear manufacturer producing for international brands and a comparable scale OEM operating in Vietnam. Comparable to TBS as a Vietnam-based contract footwear maker competing for similar brand allocations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/tbsgroupvietnam
• LinkedInlinkedin.com/company/tbs-group-thai-binh-investment-jsc-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries10 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 TBS Group