Underwear and sportswear manufacturer Cupid Nicaragua is to invest up to US$24m in expanding its operations in the country through the construction of three new industrial facilities.

The US-based company began its operations in Nicaragua back in 1995, and the new facilities in Industrial Park Las Palmeras will add another 30,000 square metres and employ around 2,700 people. The company makes shapewear under the Cupid, Naomi & Nicole, Miraclesuit, and Total Comfort (TC) brands.

The investment seems to support Nicaragua's growth as an apparel exporter.

According to the Office of Textiles & Apparel (OTEXA) of the US Department of Commerce, during the first half of 2011 Nicaraguan apparel exports to the US grew by 22% in terms of volume, reaching 202m square metre equivalents (SME). Exports jumped 27% in terms of value, up to US$586m.