Japanese Firm WMH Invests in Vietnam and Expands its ASEAN Footprint
TOKYO, April 15, 2020 /PRNewswire/ -- World Mode Holdings Co. Ltd (WMH), a Tokyo based total solution company specialized in the fashion and cosmetic industries, announced its acquisition of People Link Joint Stock Company (People Link), a leading human resources company in Vietnam. The acquisition creates WMH's 4th overseas business, after Singapore, Australia and Taiwan.
Vietnam is expected to have the second largest economic growth rate in Asia with a real GDP growth rate of 7.0% in 2019. 1,879 Japanese companies have already established businesses in Vietnam. Currently there are more than 200 foreign-funded fashion companies, and in 2019 alone, US$661 million in sales were recorded. The country with a population of 96 million has proven to be an attractive market.
With its presence now in Vietnam, WMH can offer total solution services to its 1,000 clients in the world fashion industry, many of them ready to enter the Vietnam market and neighbouring countries.
"People Link is a great representative of human resources companies in Vietnam. I envision leveraging PL's know-how and IT technology to expand into nearby ASEAN countries," said Mr. Shinsuke Kafuku, CEO and President of WMH. "Not only can we work together to develop Vietnam, but we can also contribute to the markets of other countries. We are investing in solid regional business development. I am convinced that when the 'Corona Shock' is over, both online and real-world development in ASEAN will become ever more active."
Ms. Thu Son, Managing Director of People Link said: "Among the many potential partners we have met, WMH was found to be the best match for People Link in terms of culture, passion and care. WMH is strong in fashion and beauty, which is up and coming in developing countries like Vietnam. Our clients in other industries besides the fashion industry sector, such as retail, commerce, and IT, can also enjoy the benefits thanks to their expertise. Together, we can do many great things for our employees, customers and regional markets."
WMH Group has more than 6,000 employees worldwide. Following the acquisition, Japanese staff will soon be stationed in Vietnam, and together with the Vietnamese team, will use the group's expertise to cultivate and support the human resource needs of the market. With its existing nationwide network in Ho Chi Minh City, Ha Noi, and Da Nang, and the company's 5,000 well-trained workforce, WMH is looking forward to building a new bright future with People Link in the region.
More information about WMH can be found at: https://wmh.co.jp/english/
About WMH
WMH is a solution company specialised in the fashion and cosmetics industry and incorporates 6 Japanese group companies: iDA, BRUSH, AIAD, AIAD LAB, Four Ambition, VISUAL MERCHANDISING STUDIO and three overseas operations. From the synergy of our highly specialized companies, we provide highly effective solutions. Forging a path to the future where everyone in the fashion industry is enriched.
For more information contact:
[email protected]
SOURCE World Mode Holdings Co., Ltd.
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