Two of the largest footwear manufacturers in China and Southeast Asia reported that July 2025 saw a decline in fortunes compared to the trends in July 2024 and June 2025.

Feng Tay Enterprises
Feng Tay Enterprises, one of the longest-tenured producers of Nike footwear, reported that manufacturing revenues fell 8.8 percent year-over-year (y/y) in July 2025 to NT$7.32 billion. The decline is a marked acceleration from the 3.1 percent y/y decline in June 2025 but a clear improvement from the 23.4 percent decline posted in May 2025. The company’s July shipment growth reversed the trend from July 2024, when shipments grew 3.1 percent year-over-year.

The six-month (H1) year-to-date (YTD) shipment revenues were down 4.1 percent through June to NT$41.1 billion.

Feng Tay Enterprises reports in the 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, posted weaker year-over-year growth in July 2025, achieving a 0.5 percent gain compared to July 2024. The weak growth trend represents a sharp moderation from June 2025, when shipments increased 9.4 percent y/y but mirrored the 0.5 percent y/y growth in May 2025.

Manufacturing was up 5.3 percent for the 2025 seven-month YTD period through July, losing ~100 basis points from the H1 YTD trend through June.

Total net consolidated operating revenue generated in July 2025 by Yue Yuen Industrial (Holdings) Limited, including the footwear manufacturing business and retail stores throughout China, decreased 1.9 percent y/y to $667.5 million, once again due to worsening fortunes in the Pou Sheng China Retail business, which accompanied the declining fortunes in manufacturing.

Pou Sheng China retail revenues were down 8.6 percent y/y in July after falling 16.4 percent y/y in June.

The company’s net consolidated cumulative operating revenue for the 2025 YTD period through July increased just 0.7 percent y/y to $4.73 billion.

Yue Yuen and its footwear manufacturing business trade and report in U.S. dollars ($) currency.