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.
Taiwan’s technology protection rules prohibits Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) from producing 2-nanometer chips abroad, so the company must keep its most cutting-edge technology at home, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. Kuo made the remarks in response to concerns that TSMC might be forced to produce advanced 2-nanometer chips at its fabs in Arizona ahead of schedule after former US president Donald Trump was re-elected as the next US president on Tuesday. “Since Taiwan has related regulations to protect its own technologies, TSMC cannot produce 2-nanometer chips overseas currently,” Kuo said at a meeting of the legislature’s
GEOPOLITICAL ISSUES? The economics ministry said that political factors should not affect supply chains linking global satellite firms and Taiwanese manufacturers Elon Musk’s Space Exploration Technologies Corp (SpaceX) asked Taiwanese suppliers to transfer manufacturing out of Taiwan, leading to some relocating portions of their supply chain, according to sources employed by and close to the equipment makers and corporate documents. A source at a company that is one of the numerous subcontractors that provide components for SpaceX’s Starlink satellite Internet products said that SpaceX asked their manufacturers to produce outside of Taiwan because of geopolitical risks, pushing at least one to move production to Vietnam. A second source who collaborates with Taiwanese satellite component makers in the nation said that suppliers were directly
Top Taiwanese officials yesterday moved to ease concern about the potential fallout of Donald Trump’s return to the White House, making a case that the technology restrictions promised by the former US president against China would outweigh the risks to the island. The prospect of Trump’s victory in this week’s election is a worry for Taipei given the Republican nominee in the past cast doubt over the US commitment to defend it from Beijing. But other policies championed by Trump toward China hold some appeal for Taiwan. National Development Council Minister Paul Liu (劉鏡清) described the proposed technology curbs as potentially having
TECH WAR CONTINUES: The suspension of TSMC AI chips and GPUs would be a heavy blow to China’s chip designers and would affect its competitive edge Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, is reportedly to halt supply of artificial intelligence (AI) chips and graphics processing units (GPUs) made on 7-nanometer or more advanced process technologies from next week in order to comply with US Department of Commerce rules. TSMC has sent e-mails to its Chinese AI customers, informing them about the suspension starting on Monday, Chinese online news outlet Ijiwei.com (愛集微) reported yesterday. The US Department of Commerce has not formally unveiled further semiconductor measures against China yet. “TSMC does not comment on market rumors. TSMC is a law-abiding company and we are