CHINA: Shoe Company Weathers US Slowdown
American exports for shoe company Yue Yuen Industrial (Holdings) have increased by 11.1 per cent, despite a slowdown in the US economy. Exports of shoes have grown during the six months to 31 March compared with the same period last year.
Sales to the US for the period made up 53.6 per cent of the group's total turnover, while sales to Europe accounted for 27.7 per cent and Asia 12.6 per cent.
And during the period, overall turnover reached US$896 million, 8.8 per cent higher than the same period last year.
The company attributes this growth to an increase in orders from existing customers and the addition of several new customers. Yue Yuen says its casual shoe sales rose 31.7 per cent compared with the same period last year, and athletic footwear sales grew 5.7 per cent.
Companies: Yue Yuen Industrial (Holding) Ltd
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