Two of the largest footwear manufacturers in China and Southeast Asia reported ongoing declines in their September 2025 footwear shipments, albeit at a more moderate pace than seen in August. The smaller declines came as both factories cycled against revenue increases in the prior-year September period.
Feng Tay Enterprises
Feng Tay Enterprises, one of the longest-tenured producers of Nike footwear, reported that manufacturing revenues dipped 0.9 percent year-over-year (y/y) to NT$6.72 billion in September 2025. The decline is a clear deceleration from the 3.7 percent year-over-year (y/y) in August 2025 and the 8.8 percent y/y decline in July 2025.
In September 2025, the company’s shipment growth reversed course from the previous year’s trend that saw September 2024 shipment value inch up 1.3 percent year-over-year from August September 2023.
Nine-month year-to-date (YTD) shipment revenues were down 4.3 percent through September 2025 to NT$62.8 billion.
Feng Tay Enterprises reports in New Taiwan dollar (NT$) currency.
Yue Yuen Manufacturing
Yue Yuen Industrial (Holdings) Limited’s manufacturing business, which is responsible for footwear production for a large portion of major outdoor and athletic brands in the U.S. and Europe, experienced another decline in footwear shipment value in September 2025 as revenues fell 3.8 percent year-over-year (y/y), an improving trend sequentially after the company saw August shipments fall 9.7 percent year-over-year. The month’s decline is in sharp contrast to the September 2024 trend, when Yue Yuen posted a 26.7 percent increase compared with the prior-year September period.
The Manufacturing business was still up 2.3 percent for the 2025 nine-month YTD period through September.
Total net consolidated operating revenue generated in August 2025 by Yue Yuen Industrial (Holdings) Limited, including the footwear manufacturing business and retail stores throughout China, declined 4.1 percent y/y to $633.0 million, which was impacted by the still-weak Trump Tariff Era Manufacturing business and continued weakness in the Pou Sheng China Retail business.
Pou Sheng China retail revenues were down 4.8 percent y/y in September after declining 6.0 percent in August and falling 8.6 percent y/y in July.
The company’s net consolidated cumulative operating revenue for the 2025 YTD period through September remained in negative territory, slipping 1.0 percent y/y to $6.02 billion.
Yue Yuen and its footwear manufacturing business trade and report in U.S. dollars ($) currency.
Image courtesy Nike
