TAIWAN: Footwear Giants See Revenues Rise
Taiwan's leading footwear companies, Pou Chen Corp and Feng Tay Enterprises Co, have recorded year-on-year sales growth of 4.1 per cent and 4.96 per cent, respectively, for the period to October 31, 2003.
Feng Tay, an international contractor for Nike, posted accumulated revenue of US$230 million for the period.
Pou Chen, which manufactures footwear for Nike, Adidas, Reebok and New Balance, reported revenue of US$265m for the first 10 months of the year.
Market observers report, however, that the two footwear giants' total earnings are difficult to ascertain, with much of their production moved offshore to mainland China, Indonesia and Vietnam.
Yue Yuen Industrial Ltd, a wholly-owned offshore subsdiary of Pou Chen, reportedly posted revenue of US$1.9 billion for the first nine months of 2003, with an annual growth of 32.6 per cent.
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