Phong Phu

What Phong Phu does

Tổng Công ty Cổ phần Phong Phú (Phong Phu Corporation) is a Vietnamese vertically integrated textile manufacturer headquartered in Ho Chi Minh City, founded in 1964 and operating as a public joint-stock company within the Vinatex state-owned textile group. It produces yarn and industrial sewing thread under brands including Macio, Venti, and the long-running Coats and Shigemitsu co-developed product lines, alongside home textiles (towels, bedding, and related products) under the Mollis brand and sub-lines such as Mollis Ecol, Hải Vân, Hải Cẩu, and Tepido. Annual production capacity is 61,000 spindles, 11,300 tonnes of yarn, and 10,465 tonnes of home textiles, with technical capabilities spanning spinning, dyeing, weaving, and finishing across a closed-loop mill network.

The business operates a dual-channel commercial model. On the B2B side, Phong Phu serves more than 600 customers including garment manufacturers, industrial thread distributors, and international retailers such as Target and Aeon, exporting to Japan, the United States, Europe, Russia, and Southeast Asia. On the B2C and distribution side, the company sells finished home textiles through six Mollis-owned retail showrooms, e-commerce channels, and partnerships with domestic supermarket chains. Reported 2025 consolidated revenue reached VND 2,871 billion (~US$113 million) with pre-tax profit of VND 475 billion, and exports alone totaled US$34.72 million in 2024. The company holds OEKO-TEX STeP Level 3 certification (reportedly the first Vietnamese firm to obtain it), ISO 9001:2008, and ISO 14001:2004, and has been recognized as a Vietnam National Brand for eight consecutive years.

Revenue mechanics combine long-tenured industrial thread contracts (35 years with Coats, 27 years with Shigemitsu) with branded retail margin capture through Mollis. The company employs 3,562 unionized staff and has reduced total debt by more than 40% over the past five years, paying a 30% dividend in 2025 on the back of a five-year plan completed at 134% of target. Strategic positioning emphasizes sustainability certification, premium export accounts, and direct-to-consumer expansion of the Mollis brand as the principal growth levers.

Name

Phong Phu

Legal name

Tổng Công ty Cổ phần Phong Phú

Website

https://phongphucorp.com

Company type

Public

Founded year

1964

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Tổng Công ty Cổ phần Phong Phú is a Vietnamese vertically integrated textile manufacturer producing yarn, industrial sewing thread, towels, and home textiles for B2B garment manufacturers, international retailers, and end consumers via the Mollis brand.

Ownership category

akta.pro rank

Product category

Textile Manufacturing

NAICS

Curtain and Linen Mills (31412), Apparel Knitting Mills (3151), Broadwoven Fabric Mills (31321)

SIC

Textile Mill Products (2200), Knitting Mills (2250), Wholesale-Apparel, Piece Goods & Notions (5130)

akta.pro primary industry

Bed Linen & Bedding Manufacturing (Sheets/Pillowcases/Duvet Covers/Comforters/Blankets) (IMAOAKAA)

akta.pro secondary industries

Sewing Thread Manufacturing (IMAOAAAH), Hospitality & Institutional Home Textiles Manufacturing (Hotel/Hospital Bedding & Towels) (IMAOAKAI), Knitted Fabric Mills (IMAOABAB)

Keywords

• Yarn manufacturing
• Sewing thread production
• Home textile manufacturing
• Towel production
• Vertically integrated textiles

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Textile manufacturing and product sales: Core revenue from manufacturing and selling yarn, thread, towels, bedding, home textile products. Products include: CD Siro Yarn, Fancy Siro Yarn, CD Siro Spun Yarn, PE Thread Yarn, PE Twisted Yarn, Texture Yarn, Epic Yarn, cotton towels, bedding sets, bathrobes, socks, aprons. Production capacity: 11,300 tonnes/year of yarn/thread; 10,465 tonnes/year of home textile products.
2. Financial investment: Investment activities through subsidiaries and joint ventures in textile manufacturing and other sectors

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Phong Phu operates a vertically integrated textile manufacturing business producing yarn and sewing thread (11,300 tonnes/year capacity from 61,000 spindles across 3 factories) and home textile products including towels, bedding, bathrobes, socks, and aprons (10,465 tonnes/year capacity). The company supplies yarn/thread to garment manufacturers including global brands like Coats, and distributes home textile products under brands such as Mollis, Macio, Venti, Tepido, Hải Vân, and Hải Cầu through a network of 600+ B2B customers, supermarket chains, 6 dedicated Mollis showrooms, e-commerce, and international export channels.

Product overview

Phong Phú operates as a vertically integrated textile corporation with two core product lines: (1) Yarn and Sewing Thread manufacturing through automated Rieter production lines with 61,000 spindles and 11,300 tons annual capacity, supplying major customers including Coats, Ichihiro, and international clients; and (2) Home Textiles (Dệt Gia Dụng) producing towels, bedding, bathrobes, socks, and aprons with 10,465 tons annual capacity under brands including Mollis, Macio, Venti, Tepido, Hải Vân, and Hải Cẩu. The company also maintains financial investment operations. Mollis is the flagship consumer brand dominating over 50% of Vietnam's towel market. Products are distributed through major retail chains including Co.opmart, BigC, Metro, Aeon, Lotte Mart, VinMart, and dedicated Mollis showrooms.

Differentiator

Problem solved

Functional benefit

Brands

• Mollis: Premium towel brand, market leader with over 50% market share in Vietnam
• Macio
• Venti
• Tepido
• Hải Vân
• Hải Cẩu
• Mollis Ecol

Products and services

• Yarn and Sewing Thread (Sợi - Chỉ May) Yarn and sewing thread products manufactured with automated production lines controlled by robotic systems, featuring equipment from Switzerland, Italy, Germany, Japan, India, and China. Operates 3 factories with 61,000 spindles producing 11,300 tons of yarn annually. Product range includes CD Siro Yarn, Fancy Siro Yarn, CD Siro Spun Yarn, PE Thread Yarn, PE Twisted Yarn, Texture Yarn, and Epic Yarn. Sold to garment manufacturers, spinning mills, and textile manufacturers in Vietnam and internationally (including Coats, PPH, Ichihiro, Dai-ichi, Ellias, Onelu, KB Adhesives).
• Home Textiles (Dệt Gia Dụng) Home textile products including towels, bedding (sheets, pillowcases), bathrobes, socks, and aprons. Produced on integrated manufacturing lines from weaving to dyeing and finishing, with annual production capacity of 10,465 tons. Distributed under brands including Mollis, Macio, Venti, Tepido, Hải Vân, and Hải Cầu. Sold to 600+ B2B customers including supermarket chains (Co.opMart, BigC, Metro, Aeon, Lotte Mart, VinMart, Saigon Satra), distributors, and international export partners.
• Mollis Premium Towel and Home Textile Brand Premium consumer towel brand claiming over 50% market share in Vietnam. Products feature OEKO-TEX certified materials, natural dyes from plant extracts, and eco-friendly production. Brand portfolio includes organic cotton towels, silk towels, bamboo fiber towels, and the Mollis Ecol line made from naturally-sourced materials with dyes from leaves, bark, fruits, and roots. Sold through 6 Mollis showrooms across Vietnam and e-commerce at mollis.com.vn.
• Financial Investment Operations (Đầu tư Tài chính) Financial investment operations conducted through subsidiaries and joint ventures in textile manufacturing and other sectors. Part of the company's diversified business portfolio alongside its core textile manufacturing operations.

Quantifiable outcome

• Revenue grew from 2,465 billion VND (2020) to 2,634 billion VND (2024), CAGR 6.8%
• +4 more outcomes

Named customers19 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• HohensteincoreOthers · 5 March 2024German certification body that awarded OEKO-TEX STeP Level 3 certification to Công ty Dệt Gia Dụng Phong Phú on March 5, 2024. First company in Vietnam to achieve this certification level for sustainable textile production with responsible social working conditions.
• Shigemitsu Shoji (Japan)majorStrategic or Co-development Partner · 1 January 1997Long-standing Japanese trading partner since 1997 (27 years of cooperation). Regular customer for towels and home textile products. Representative Ms. Gergentana has attended Phong Phú's 50th and 60th anniversary celebrations, representing a relationship spanning nearly half of Phong Phú's 60-year history.
• Coats Phong Phú (TNHH)coreStrategic or Co-development Partner · 1 January 1989Joint venture established 1989 with Coats (global thread leader). Specializes in producing premium thread for garment and leather shoe exports. One of the most successful joint ventures in Vietnam with 35 years of operation. Phong Phú is the first Vietnamese company to directly export towels to Japan. Partnership led to technology transfer, international quality standards, and global market access.
• RietercoreTechnology or IntegrationSwiss textile machinery manufacturer. Phong Phú invested in automated spinning lines from Rieter, described as the most modern in Southeast Asia. These lines are controlled by automatic robot systems, representing technology transfer and advanced manufacturing capability.
• Vietnam National Textile and Garment Group (Vinatex)coreStrategic or Co-development PartnerParent group (cổ đông chi phối). VinatPhong Phú is a strategic unit of Vinatex. Lê Tiến Trường is Chairman of Vinatex's Board and Trần Quang Nghị is Vice Chairman. Vinatex provides strategic direction, governance oversight, and coordinates with member units. Phong Phú has been a member for 30 of its 60 years.
• Coats (global thread group)coreStrategic or Co-development PartnerGlobal thread manufacturing group. Coats Phong Phú joint venture supplies premium thread products. In 2019, Phong Phú successfully developed Epic Yarn meeting Coats global quality standards. Partnership includes joint product development and quality standards alignment.
• Vietnam National Textile and Garment Group (Vinatex)coreTechnology or IntegrationInternal training programs sponsored by Vinatex. Phong Phú participates in Vinatex's internal training program including Young Talents program, middle management training, and senior management training. Also participates in language training (English and Chinese) organized under Vinatex guidance.
• Tập đoàn Coats (Tootal)coreStrategic or Co-development PartnerCoats (formerly Tootal) partnership began 1989. Phong Phú initially imported yarn then began producing premium yarn for Coats in 1992. In 1999, invested in major automated spinning factory for Coats partnership.
• Vietnamese Football Federation (VFF)minorGTM or Marketing PartnerPartnership for sports sponsorship. Phong Phú has been main sponsor of Vietnam Women's Football team and Phong Phú - Hà Nam FC since 2009. The women's football team won SEA Games 32 in 2023, with Phong Phú donating 1 billion VND to celebrate the victory.

Scale indicators17 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Vinatex (Vietnam National Textile and Garment Group): Phong Phú's state-owned parent group and the largest textile conglomerate in Vietnam. Provides governance/strategic oversight and indirect comparability on operating model, but at much larger scale and broader portfolio.
• American & Efird (A&E): Global manufacturer of industrial and consumer sewing thread, a direct competitor to Coats and to Phong Phú's yarn/thread business. Comparable in thread/yarn product category and global customer base.
• Coats Group plc: Global leader in industrial sewing thread and 35-year JV partner of Phong Phú (Coats Phong Phú). Comparable as a major sewing thread manufacturer and as a competitor in the global thread market; broader scale and geography but same core product overlap.

Direct peers

• Arvind Limited: Indian textile conglomerate with denim, woven fabrics, and home textiles, vertically integrated similar to Phong Phú. Directly comparable business model and comparable export-oriented textile manufacturing.
• Welspun India Limited: Welspun is India's largest home textile manufacturer (towels, bed linen, rugs), directly comparable to Phong Phú's vertically integrated home textile business and export-oriented customer base (Target, etc.). Both operate large-scale towel and bedding manufacturing serving global retail.
• Trident Group (India): Trident is an Indian textile conglomerate with yarn, terry towels, bed linen, and paper businesses. Directly comparable to Phong Phú's combination of yarn spinning and home textile (towel/bedding) manufacturing, with similar global retail customer base.
• Thanh Cong Textile & Garment Investment Trading JSC: Vietnamese textile company in yarn spinning and garment manufacturing, publicly listed and a fellow Vinatex group member. Closest direct Vietnamese peer in vertical integration from yarn to finished products.
• 1888 Mills: US-based vertically integrated home textile manufacturer producing towels, bedding, and sheets with global retail customers. Closely comparable to Phong Phú's home textile export business in product range and customer overlap.

Regional players

• Pacific Textiles Holdings Limited: Hong Kong-listed textile manufacturer with knitting and fabric production serving global apparel brands. Comparable regional Asian textile manufacturing peer with similar product overlap in knitted textiles.

Others

• Rieter Holding AG: Swiss textile machinery supplier and Phong Phú's technology partner for the automated spinning line (most modern in Southeast Asia). Included as an adjacent ecosystem participant reflecting Phong Phú's technology positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/phong-phu-fabric-jsc-

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 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 Phong Phu