Top sport-shoe maker aims to double China outlets
HONG KONG: Yue Yuen Industrial (Holdings), the top maker of shoes for Nike Inc and other footwear brands, plans to more than double its network of Chinese outlets within two years, accelerating a retail foray.
The firm moves the shoes that it makes via 1450 outlets sprinkled across the country but it now aims to raise that total to 3000 within two years, managing director David Tsai told reporters after a shareholders' meeting on Thursday.
It aimed to own two-thirds of those new stores and retail counters, the executive added.
Yue Yuen, which operates a sprawling production web covering China, Vietnam and Indonesia, is moving increasingly away from fabricating shoes for the likes of Nike and Adidas toward wholesale and retail.
That division accounted for 8.3 per cent of nearly $US3.7 billion ($NZ5.3 billion) in revenue in the year ended September 30, up from 5.4 per cent the previous year.
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