PIA Press Release
Monday, January 16, 2012
PNoy thanks bag maker,Luen Thai, for big ticket investments in Phlby Carlo Lorenzo J. Datu
CONCEPCION, Tarlac Jan 16 (PIA) -- President Benigno Aquino III personally thank today Hong Kong-based firm the Luen Thai Group for its big ticket investments in the country that generated thousands of jobs for Filipinos.
In his speech keynoting the grand opening of the manufacturing facility of subsidiary D’ Luxe Bags Philippines in Tarlac, Aquino said he is very pleased whenever discussions turned to Luen Thai because it is always good news.
“Obviously before we spend some money we have to earn the money, and it is through efforts of people like Mr. Willie Tan (Luen Thai’s CEO) who, I really am very glad that I met just barely two years ago, has already contributed so much to our country. He has so much commitment to the Filipino people,” the President added.
The Chief Executive disclosed the company’s plan of generating approximately 35,000 jobs by the third year of his administration and expanding to other ventures apart from garments and bags such as engaging in the tourism sector.
Aquino stressed that the presence of investors empowers Filipinos as, “it opens more opportunities for our people that have been lacking for such a long time. And it grooms government to be in at its friendliest, most efficient self to be able to ease the suffering of the people that we promised to serve and you are making all of that possible.”
D’ Luxe Bags Philippines is one of the outsourced manufacturers of American firm Coach’s designer bags. It was incorporated on December 2010 and was registered with the Board of Investments (BOI) on January 2011.
As of December 2011, D’Luxe has 1,200 employees and is producing 90,000 to 100,000 pieces of bags per month. The subsidiary’s target growth is $130 million in export value and four million pieces annually by 2014.
The establishment of a bag manufacturing facility in Tarlac was one of Luen Thai’s commitments to the President during their September 2010 meeting in New York City.
Others were the expansion of its Adidas production plant in Mactan, Cebu and Ralph Lauren factory in Clark Freeport. (WLB/CLJD-PIA 3)