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Taiwan's Three Major Footwear Makers See Sizable Revenues Rise in Q1

May 22, 2014 | By CENS

Thanks to growing demand for outdoor leisure products globally, Taiwan's three major footwear manufacturers, namely Pou Chen Group, Feng Tay Enterprise Co., and Fulgent Sun International Holding Co., all saw sizable revenue growths in the first quarter of this year.

In March alone Pou Chen, a major sports shoe contractor, scored combined revenue of NT$19.791 billion (US$659.7 million) for a sharp 30.56% monthly rise and 14.36% annual rise, with Q1 revenue of NT$55.832 billion (US$1.86 billion), up 9.94% from the corresponding NT$50.784 billion (US$1.69 billion) of a year earlier.

Pou Chen's two affiliates--Yue Yen Industrial Ltd. and Pou Sheng International Holdings Ltd.--both also fared well in March, with the former raking in revenues of NT$19.701 billion (US$656.7 million) for a YoY growth of 12.6% and the latter NT$5.143 billion (US$171,43 million) for a YoY growth of 20.1%. And in the first quarter Yue Yen's revenue rose to NT$55.05 billion (US$1.835 billion), up 7.4% YoY and Pou Sheng's rose 8.8% to NT$104.7 billion (US$4.69 billion).

This year Pou Chen's capital spending is estimated to reach about NT$10.5 billion (US$350 million), surging a projected 75% from last year's sub-NT$6 billion (US$200 million).

Today the group has factories in China, Vietnam, Indonesia, and Bangladesh in addition to Taiwan, with recent plans to establish a factory in Myanmar. In 2011 its operation in China took the lion's share of 50% of the total production but this year has dropped to 34%, close to that in Vietnam and Indonesia.

Feng Tay, also a major sports shoe maker, enjoyed an annual rise of 17.9% in revenues in the first quarter and foresees a rosy second quarter. The company predicts to generate 18.92 million pairs of shoes in the second quarter for a projected quarterly growth of 3% or annual growth of 10%.

Likewise, Fulgent Sun saw revenues in the same quarter jump 17.84% YoY and expects to see continuing increase in orders in the next three months. The company will enhance operating efficiency of its existing plants and is constructing a factory in Cambodia, also expecting a 10%-15% rise in revenues this year. (JL)      


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