Garment maker Carry Wealth is considering extending its production base to include Vietnam now that the country has been given normal trade relations status with the US.

The company, which manufactures knit tops, woven bottoms and sweaters for brands such as DKNY, Tommy Hilfiger, Banana Republic and Gap, currently makes most of its clothes in Indonesia, although it acquired two knit factories in El Salvador and Lesotho last year to take advantage of their quota-free and duty-free benefits.

In an interview with The Standard, Carry Wealth's managing director and vice-chairman James Lee, said the firm has already met 81 per cent of its full-year target turnover by securing orders worth US$110 million (HK$858 million).

"Our sales turnover target this year is US$135 million, about US$5 million less than last year because of the economic downturn," he said, adding that sales volume for 2002 is likely to be higher than in 2001, but order prices were likely to be lower because of the slowing economy.

For the year ended December 2001, Carry Wealth posted a turnover of HK$1.15 billion, down 17 per cent on 2000, with net profit of HK$95 million down 20.9 per cent.