On the heels of its recent move to acquire 73% of apparel manufacturer Pro Kingtex Industrial Co Ltd, footwear-maker Yue Yuen is now reportedly close to a deal with Taiwanese sportswear maker Quang Viet Enterprise Co.
Quang Viet, with two plants in mainland China and Vietnam, had $29 million in sales last year. The firms factory in Ho Chi Minh City factory employs 5,000 people and is primarily focused on making Nike sportswear.
Formosa Taffeta, which owns 10% of Quang Viet, will reportedly partner with YY on the deal, seeking a 30% stake.
>>> A signal that footwear margins are tightening further in the far east???
