Textile Company Invests $24 million in Nicaragua

Cupid Nicaragua, the production company specializing in women's intimate apparel and sportswear in general, has announced the construction of three new industrial buildings.

Wednesday, October 5, 2011

From a press release from ProNicaragua:

Cupid Nicaragua, an American company specialized in the manufacture of intimate apparel for women and sports apparel in general has announced that it is currently investing up to $ 24 million in expanding its operations in Nicaragua through the construction of three new industrial buildings. Located in the Parque Industrial Las Palmeras, Carazo, the new facility will have a total area of 30,000 square meters and will employ approximately 2,700 people.

The announcement was made by Mr. David Welsh and his wife, owners of the company, during the inauguration of the second warehouse. Cupid began operations in Nicaragua in 1995 and has since been growing steadily due to the favorable business conditions in the country.

A recent study by the consulting firm Partners Group O'Rourke, identified Nicaragua as the most competitive option for the production of various garments, not only in this hemisphere, but in some cases compared to China, Vietnam and Bangladesh. Some of the factors contributing to the country's competitiveness include low costs, skilled human resources, labor productivity, consistent quality, an excellent system of zones and proximity to the market.

Some of the most important and recognized brands in the company include Naomi & Nicole, Miraclesuit, Cupid and Under Armour. Additionally, the company sells its products in renowned stores like Sears, Wal-Mart, JC Penney, Dillard's, Nordstrom and Macy's.

During the first half of 2011, Nicaragua had the highest growth in apparel exports (in volume) to the United States out of all the countries in Central America, when compared to the same period last year. According to the Office of Textiles and Clothing (OTEXA, for short) of the Department of Commerce during the first half of 2011, Nicaraguan garment exports to the U.S. increased by 22 percent in terms of volume, the equivalent of 202 square meters (MCEs), and increased by 27 percent in value terms, amounting to U.S. $586 million.

¿Busca soluciones de inteligencia comercial para su empresa?