Khai Duc Company to be penalised

Khai Duc Company, which owns Khaisilk brand, will be given stringent punishment for violation of norms and fraudulent trading. This was announced by Deputy Prime Minister Truong Hoa Binh, head of the National Steering Board against Smuggling, Trade Frauds and Counterfeits. Binh has assigned the ministries of Public Security, Industry and Trade, Finance and relevant agencies to look into the violations. Earlier, the Ministry of Industry and Trade had announced a series of violations by Khai Duc Company and had transferred documents of the Khaisilk scandal to the police for investigation.Statistics from the General Department of Customs showed that between 2006 and 2009, Khai Duc Company Limited imported fashion products from China and Thailand. However, it stopped importing since 2009. The company had not produced or outsourced fashion products at its production units in Viet Nam. Instead, it bought them from shops, household businesses and other firms in the market, labelling its brand “Khaisilk®”, “stylised Khaisilk” and “Khaisilk Made in Viet Nam”, which the company has been selling in stores nationwide since 2012. The scandal broke when a business firm in Ha Noi posted on Facebook in November last year complaining about products it had bought from the brand, which claimed they were actually made in China. According to the post, the company bought 60 Khaisilk-branded scarves at the Hang Gai shop in Ha Noi for VND644,000 (US$28) each. However, one scarf had two tags — one saying “Khaisilk Made in Viet Nam” and the other saying “Made in China.”… [Read full story]

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