The local producer of Ecco brand footwear claims the global economic slowdown will result in its total sales falling below the low turnover target already set.

Kitti Chaiwattanatorn, deputy managing director of Ecco (Thailand), said the company had targeted sales growth of 8 per cent this year, but that total sales had expanded by only 2 per cent since the start of the year. Sales hit 2.1 billion baht last year.

He attributed the downward revision of projected growth to the global economic slowdown particularly in the United States, the company's second-largest export destination.

"Normally, our annual sales grow by 10 per cent but this year, we have targeted 8 per cent because the economic conditions have been unfavourable since last year," Mr Kitti said .

He added that the sales target was close to that of the Ecco Group, its Danish parent, so the below-target growth applied to both firms, and that as sales had begun to gain momentum in the second half, he was confident that annual sales would not be too far below the target.


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