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Global Fashion Brands Sign 23 MOU with ASEAN Suppliers

BANGKOK, 15 June, 2010 — Eight leading fashion brands from Europe and the United States have signed 23 memoranda of understanding (MOU) with Southeast Asian suppliers at an inaugural textile and apparel industry event in Singapore, June 3-4
High-level sourcing personnel from AVON Products, Debenhams, Guess?, MANGO, M&S (Marks & Spencer), Max Mara, Polo Ralph Lauren, and VF Corporation participated in the one-to-one meetings format. The brands collectively account for more than US$32 billion in global retail sales
They met with the owners and senior executives of 14 “virtual vertical factories” (VVFs), which are partnerships between textile mills and garment factories based in the Association of Southeast Asian Nations (ASEAN) region
As members of the Source ASEAN Full Service Alliance (SAFSA), the VVF partnerships aim to set new international standards for production quality, speed-to-market, and value-added services