Yue Yuen Industrial Holdings Ltd, which is the worlds largest maker of athletic footwear, will apparently put its money where its mouth is in regard to pushing deeper into apparel manufacturing as well. The company last week said it had set aside $80 million to $90 million to spend on acquisitions in the apparel sector this year.
“We have a very aggressive plan and we are after a number of joint ventures and acquisitions… at the moment we have a lot of targets,” said Yue Yuen Managing Director David Tsai in a Reuters report.
Yue Yuen is looking to diversify beyond footwear as Average Selling Prices decline there in an increasingly competitive market. The company had said previously that it would expand the apparel side of the business through joint ventures and acquisitions and expand its fledgling shop-front retail business.
>>> Dear YY, Things are just a wee bit more fragmented on the apparel side of the business. Oh, and timelines are shorter too…