Fri, Oct 11, 2019 - Page 12 News List

Feng Tay reports record sales ahead of Olympics

By Kwan Shin-han  /  Staff reporter

Feng Tay Enterprises Co (豐泰企業), a key supplier of Nike Inc, on Wednesday reported record sales for last quarter, as orders rose significantly ahead of the Tokyo Olympics next year.

Shoemakers often wins more new orders in the year before the Olympics, when customers tend to release new designs, the company said.

Feng Tay declined to reveal how many orders it has gained from companies supplying the Summer Olympics, but said that its major clients — including Nike, Converse Inc and Salomon SAS — all posted annual increases in sales for the first nine months.

Thanks to its shoe sales increasing 10.7 percent annually to 10.37 million pairs last month, Feng Tay’s revenue climbed 22.78 percent year-on-year to NT$6.83 billion (US$221.4 million), company data showed.

Shoe sales for last quarter increased 5.9 percent year-on-year to 31.53 million pairs, which led to a record revenue of NT$19.98 billion, up 16.36 percent annually, company data showed.

Shipments from its plants in China, Vietnam, Indonesia and India all grew, it said.

Cumulative sales in the first nine months also grew 15.36 percent year-on-year to a record NT$54.95 billion, the data showed.

The company expects shoe production in fourth quarter to increase 8 percent annually and 5 percent quarterly to 33.2 million pairs, while shoe sales are forecast to grow 6 percent annually and 3 percent quarterly to 32.5 million pairs.

In a bid to meet the growing demand and diversfy its production, the company said it plans to invest US$27 million to build a new plant in Duc Linh District in Vietnam’s Binh Thuan Province next year.

It expects to complete expansion of its plant in Bargur Township in India’s Tamil Nadu State next year, which should help boost its output of Nike shoes.

Shoemaker Fulgent Sun International Holding Co (鈺齊國際) on Tuesday said that sales last month soared 45.69 percent year-on-year to NT$902.75 million, leading its second-quarter revenue to rise 33.16 percent annually to a record NT$3.45 billion.

The company also benefited from next year’s Tokyo Olympics and increasing orders from its clients.

Fulgent Sun started shipments of spring and summer shoes this month, and expects shipment to reach an annual high in December or January, it said.

The company received more orders from VF Corp and W-D Apparel Co LLC, which own the brands Altra Running, Terra and Kodiak, and another boot maker TCX Srl, it said.

This story has been viewed 2076 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top