Taiwan Paiho Actively Explores Markets at Home and Abroad
2008/03/10 | By Judy LiTaipei, March 10, 2008 (CENS)--Taiwan Paiho Ltd., Taiwan's largest manufacturer of Velcro tape for apparel, furnishing, luggage, and footwear, is going to actively explore markets both at home and abroad.
In addition to further strengthening its marketing channels, the company is planning to expand its operations on both sides of Taiwan Strait, and has built up two house brands--"Lacoya" and "Paiho," which have recently been registered in Italy and Spain. Moreover, the company has lately purchased "Lanche," a famous men's wear line in France to enlarge its brand pool.
Moreover, the company's plant in Vietnam received orders from IKEA, the world's largest, Sweden-based furniture chain, for injection fastener tape to be used in bookstores, with the order value estimated to be US$700,000.
Cheng Kuo-yen, vice chairman of the company, disclosed that Vietnam's economy is quite promising and the company's operation in the country is running very well. So, Taiwan Paiho is planning to apply to go public in the market there within next two years.
Today, the company's operations in China are major revenue sources, particularly the plant in Wuxi of Jiangsu Province. Cheng said that the company's plant in Wuxi would not only keep reinforcing its production in Velcro tape for apparel, but also on related products for consumer electronics. Currently, the plant has received orders for iPhone bags and wipe cloths for iPod devices from two renowned computer firms-Apple and Asustek Computer. The former is a U.S.-based computer firm and the latter a Taiwan-based one.
Taiwan Paiho scores average order value of NT$150 million (US$4.55 million at US$1 = NT$33) for wipe cloths used for electronic devices per year. Seeing the lucrative market, the company therefore intends to enhance its production capacity of such products in Wuxi plant.
Moreover, the company is eager to tap the brand garment market both at home and abroad, and will develop more functional clothes to meet demands in the near future.