Wilbur Ross broadens Vietnam textile investments

New York – Investor WL Ross & Co. and his International Textile Group (ITG) have committed to three joint ventures with clothing and textile manufacturer Phong Phu Corp., based in Ho Chi Minh City,Vietnam.


WL Ross and Phong Phu will “explore various real estate-related” ideas, the company said, and WL Ross may help fund Phong Phu in an initial public offering (IPO).


ITG will “consider up to $100 million of operating support” and expansion of its existing $80 million cotton fabric and apparel joint venture with Phong Phu in Da Nang , Vietnam .

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!