Kido Industrial, a South Korea-based work jacket manufacturer, announced that it will invest more than US$36 million in a new factory in Dakar, Bangladesh.
The company will invest US$31.17 million to establish a new company, Kido Dhaka Company Co, Ltd. In addition, Kido recently acquired an existing garment factory, which is directly adjacent to another property located in the Adamjee Export Processing Zone (EPZ), which Kido purchased and will use as a construction site for the new factory, Kido Dhaka.
Currently, companies from 14 countries are operating in EPZ, including the United States, Japan, the United Kingdom, South Korea, China, Taiwan, Germany, Spain, and India. company of.
Kido plans to initially spend US$5 million to renovate the acquired clothing factory, and gradually increase the investment to US$14 million. Commenting on Kido’s acquisition of the company, Kido Dhaka managing director Joseph Ahn said: “We will rearrange the safety of the building infrastructure to bring it to the same level as our other factories and we will also focus on the sustainability and environmental footprint of the factory.
The existing factory will initially train about 2,000-3,000 new workers, and then create more new jobs after the new factory is completed, eventually producing about 2 million pieces per year Workwear outerwear, with approximately 16,000 employees in 2 factories, specializing in seam-sealed and insulated jackets for outdoor, sports, work and motorcycle clothing. Kido’s outdoor customers include Bergans, BlackYak, JackWolfskin, Schöffel, Spyder, etc.
Ahn commented: The favorable labor costs, coupled with the large number of laborers that Bangladesh can provide, attracted Kido to make the decision to invest in Bangladesh. We are in Vietnam, There are similar facilities in Myanmar and Indonesia, and Kido Dhaka will be an important backup for our existing factories. Clients can rely on us to take the necessary steps to ensure their competitiveness, flexibility and market forecasting. Products produced in Bangladesh factories will be exported to various brands in Europe, North America, Japan and South Korea.
In addition to its headquarters in Seoul, South Korea, Kido already has a network of factories in Vietnam, Myanmar, and Indonesia, with an annual turnover of approximately US$300 million. All factories are operated through Gore -Tex certified.
