ELDOVINA CO.,LTD

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♦ Sales reached $ 25 billion with global luxury handbag accessory export only. GEUMDO HARDWARE LTD is a company that earns money with exports not domestic sales. Production bases are all abroad and only head office is in Seoul. This company is quite unaffected by the recession of domestic market on this account. GEUMDO HARDWARE LTD produces handbag accessories. Metal item is the main item among others. It earned them about 25 billion last year.
♦ Since supply to COACH, founded in 2006, the company has grown up with bag accessories. COACH’s orders account for 90 percent of our annual revenues. Other sales also from American luxury handbags company such as Michael Coos, Marc Jacobs. Orders come in from other companies, but there are so many of COACH’s order and we couldn’t get other orders. GEUMDO ranked 3rd among the COACH RMS(row material supplier). They got Best customer service Award from COACH.
♦ In 2007, GEUMDO has advanced to China and working 2 factories but they set up a Vietnam local corporation in last year and are increasing production density in Vietnam due to the increase in wages and restrictions by the Chinese government. Advance into Vietnam is successful so 2nd factory is under construction. Handbag accessories such as Ring, Zipper, Turn lock and Dogleash should be exquisite and keep high quality. The difference between luxury brand and imitation brand is accessories. Imitation can emulate the originals but is inferior about detail.
♦ In this regard, CEO Mr. Lee was evaluated as successful, entering the Vietnam. Vietnamese workers are not only handy but also diligent. So they are competent enough to produce high quality product. Another competitive advantage GUEMDO has is they have integrated production system from die casting to plating. This is makes it possible the Effective Quality Management with cost savings. CEO Mr. Lee said “Our next task is to diversify supply line” and disclosed “We are to advance to the Philippines under review.”