Hiep Hung sign export deal21 May 2002
Privately-owned Hiep Hung Footwear Company have signed a contract worth US$29 million with an American partner to export high-class boots to the US. The deal will be finalised within this year, company director Nguyen Kao Tuong said. Hiep Hung have made sample shoes, labelled 'landing shoes', based on designs and patterns supplied by their American partner. Hiep Hung's boots will have small wheels on the sole to enable use for both walking and skating. Unlike many other Vietnamese companies that sign contracts with international companies, Hiep Hung will export on an FOB basis, meaning that they will produce or import the raw materials, design the models and produce the shoes themselves. Hiep Hung now have their own design department, the largest and most modern equipped in Vietnam. They are also the first company in the country to sign an export deal on an FOB basis with the US.