Wed, Sep 11, 2019 - Page 12 News List

Major clients to boost Shinkong Textile manufacturing

By Kwan Shin-han  /  Staff reporter

Shinkong Textile Co Ltd (新光紡織) yesterday said sales in its manufacturing business would see double-digit percentage growth this year on rising orders from major clients.

“We have an order visibility of six months,” Shinkong Textile president David Chiu (邱錦發) told an investors’ conference in Taipei. “Our top five clients have increased orders by more than 10 percent this year, while new clients have also added more orders.”

The company’s clients include Adidas AG, Nike Inc, Patagonia, The North Face Inc, Lululemon Athletica Inc, New Balance Inc, Mammut Sports Group AG, and several other outdoor and leisure brands, he said.

Manufacturing sales climbed 25.47 percent year-on-year in the first six months, contributing 53.86 percent of total sales, while sales generated from the firm’s retail business grew 10.38 percent and accounted for 26.3 percent of total sales, Chiu said.

He attributed the improving retail business to steady growth in sales of fashion, sports and outdoor clothing in stores.

The company sells its clothing products in 37 stores, including Artifacts, Art Haus, ASport and Super Golf, he added.

“Both athletic and fashion apparel have been selling well, and we expect this trend to continue later this year,” Chiu said, adding that the company is considering expansion overseas and has set up online shopping services.

Sales in the firm’s land development business grew 13.77 percent in the first half to account for 18.06 percent of the total, which Chiu attributed to higher rental income.

The outlook for the land development business remains positive in the second half, he added.

In the first eight months, Shinkong Textile’s cumulative revenue grew 18.76 percent annually to NT$1.16 billion (US$37.14 million).

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