Yue Yuen Industrial Ltd. reported sales slumped 4.4 percent in July to $662.1 million despite a surge in sales at a wholly-owned subsidiary that is one of the largest distributors of branded athletic and outdoor apparel and footwear in Greater China.
Yue Yuen, which is one of the world’s largest manufacturers of branded athletic and outdoor footwear, reported flat sales of $4.94 billion for the first seven months of the year. The company makes shoes for Nike, Adidas and dozens of other western athletic brands.
Yue Yuen’s wholly owned retail subsidiary Pou Sheng International (Holdings) Limited reported net sales reached RMB1.21 billion ($184.2 million) in July, up 15.5 percent in dollar terms compared with $168.7 million a year earlier.
Through the first seven months of the year, Pou Sheng’s sales reached RMB9.53 billion ($1.45 billion), up 6.6 percent from the same period in 2015.
Pou Sheng sells global athletic and outdoor footwear and apparel through more than 6,000 points of sale in China, Taiwan and Hong Kong. In addition to selling Adidas, Columbia, Li-Ning, LaCoste, Mizuno, Nike, The North Face, Puma, Reebok, Skechers and Under Armour through its own fleet of mono-branded stores, Yue Yuen has begun rolling out stores under its YY-sports banner that offer multiple sports brands. It also sells to hundreds of sub-distributors under franchise agreements.
