Vietnam’s Gilimex vows further action after US court dismisses lawsuit against Amazon

In a filing submitted to Vietnam's State Securities Commission, Gilimex confirmed that it had received a ruling from the U.S. District Court for the Southern District of New York dismissing all of its claims against Amazon.com Services LLC.

The company said it would "continue carrying out the necessary legal procedures in accordance with the law to protect the company's legitimate rights and interests."

Gilimex, headquartered in Ho Chi Minh City, has a charter capital of more than VND1.016 trillion (US$38.8 million).

The company manufactures garments and home textile products and has also expanded into industrial park real estate development.

Amazon is a U.S.-based multinational e-commerce and technology company.

The firm had been one of Gilimex's largest customers for many years.

However, in late 2022, Gilimex filed a lawsuit in the United States seeking approximately $280 million in damages, alleging that Amazon had breached contractual commitments, engaged in unfair business practices, and sharply reduced orders after the COVID-19 pandemic.

Since losing Amazon as a major customer and becoming involved in the legal dispute, Gilimex has experienced a significant decline in both its business performance and share price.

Over the past year, Gilimex's GIL shares have fallen nearly 47 percent to VND10,650 ($0.4) per share.

The company's financial performance has also deteriorated sharply. Once one of Ho Chi Minh City's leading textile and garment manufacturers, Gilimex has seen its business shrink considerably.

Its revenue fell 24 percent year on year to VND3.166 trillion ($120.7 million) in 2022 before plunging more than 70 percent to VND936 billion ($35.6 million) in 2023.

By 2025, the turnover stood at VND713 billion ($27.2 million), little changed from VND711 billion the previous year.

Its net profit reached just VND36 billion ($1.4 million) in 2025, far below the annual profit of more than VND300 billion ($11.4 million) recorded during 2020 and 2021.