Magazines Archives - 2007 May

Olympics spurring retail expansion in Beijing
Story 5

THE buzz about the 2008 Beijing Olympics is starting to hit home in China, with leading branded sportsshoe manufacturer Yue Yuen Industrial (Holdings) planning to increase the number of its retail outlets in the country by two-fold come 2009.

The retail expansion plans could not have come at a better time for Yue Yuen, which produces some of the region’s top names in athletic footwear such as Nike, Adidas and Reebok.

With production facilities in China, Vietnam and Indonesia, the group churned out an impressive 52.6 million pairs of shoes in the fourth quarter of last year alone. It reported a 7.6% gain in net profit for the first quarter of this year, with March 2007 revenues up by 12.1% over the same month last year.

After filing a 2006 year-on-year turnover of US$960.3 million, 9.4% higher than in 2005, Yue Yuen is now focused on expanding its business which has been timed to take advantage of the 2008 Beijing Olympics. This will not only see marked changes in company’s business components but also elevate its core segment.