All about manufacturing for the sporting goods industry – Page 4
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ArticleSouth Korean manufacturer Kido expands to Bangladesh
South Korea-based technical outerwear manufacturer Kido Industrial announced a total investment of more than $36 million in new factories in Dhaka, Bangladesh. Of this amount, the company will invest $31.17 million to establish a new company, Kido Dhaka Company Co, Ltd. In addition, Kido recently acquired an existing garment factory ...
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News briefs
Romania’s apparel industry is struggling
Some sports clothing has been manufactured in Romania in the past, especially for Italian brands, but it’s not sure whether this is still the case. According to Just Style, Romania’s apparel industry is suffering from problems in both its supply chain and its export market. The flow of raw materials ...
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News briefs
Afydad partners with the GSIC, powered by Microsoft
The Global Sports Innovation Center (GSIC) powered by Microsoft and the Spanish Association of Sporting Goods Manufacturers and Distributors (Afydad) will be forming a joint commission to expand the use of technology in the sporting goods sector, notably in terms of digitalization, and take part in Spain’s Development Plan for ...
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Article
Strong post-pandemic progress for Li Ning and Xtep
As they are only obliged to publish their results for the first half and the full financial year, some more public Chinese sporting goods companies published an operational update for the first quarter, following up on Anta Sports Products’ previously reported excellent post-pandemic figures for the period. Li Ning Company ...
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News briefs
Big sales jumps for Yue Yuen
Yue Yuen Industrial Corp. reported a 30 percent jump in total revenues to $870.9 million for the month of March as compared to a year ago, when the novel coronavirus pandemic shut down its manufacturing and retail operations in China. Revenues from manufacturing and retailing were up by 12 percent ...
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Article
Industry and governments react to Myanmar military coup
Pou Chen, the Taiwanese group that controls Yue Yuen, announced on March 30 that it has decided to shut down temporarily its production of athletic shoes for Adidas and Nike in Myanmar for safety reasons. The local management and essential staff will remain in place for maintenance purposes. A Taiwanese ...
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Yue Yuen posts losses despite retail rebound
Although China is resisting the pandemic much better than other markets, Yue Yen Industrial Holdings ended 2020 in the red, hampered by the global decline in the demand for shoes, especially in the casual segment. The company was strongly impacted by government measures to contain the spread of the disease ...
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ArticleLi Ning grows further, adjusting to the pandemic
Rising interest in exercise and fitness in China after lockdowns were lifted contributed to improve Li Ning’s revenues, which grew 4.2 percent to 14,456.9 million yuan renminbi (€1.86bn-$2.09bn) in 2020. Net income increased by 13.3 percent from the previous year to RMB 1,698.4 million (€218.6m-$246.1m). Excluding a one-time financial gain ...
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Article
Xtep optimistic about 2021, despite lower profits in 2020
Xtep International Holdings of China recorded a 29.5 percent drop in net income for 2020, down to 513.0 million yuan renminbi (€66.1m-$78.8m), on revenues that inched down by 0.1 percent from the previous year to RMB 8,171.9 million (€1.05bn-$1.25bn). The gross margin declined by 4.3 percentage points to 39.1 percent, ...
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News briefs
Puma manufacturer in China cuts carbon emissions further
Shenzhou International, an apparel manufacturing partner of Puma in China, has kicked off a large-scale wind energy project that will supply about two-thirds of the company’s electricity needs in China by 2030. Shenzhou already gets some of its energy from a nearby wind farm but it has now agreed to ...
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News briefs
Xtep to open operation center in Shanghai
Xtep International has plans to establish a new operation center in Shanghai. According to a report in Sportstextiles.com, the Chinese sportswear group has entered into an agreement with a property company to acquire a site covering around 11,000 sqm close to Hongqiao Airport. Xtep will use the new site for ...
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ArticleA Li Ning unit may take over Clarks for £51m
Li Ning, the famous Chinese Olympic gold-medallist-turned-businessman, is about to take control of the iconic British shoemaker Clarks less than a month after its shareholders agreed in principle to sell most of their shares to a Hong Kong-based private equity firm, LionRock Capital. Li is the non-executive chairman of Lion ...
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News briefs
Chinese sports brands see better Q4
We have already reported on the preliminary results of Anta Sports Products for the fourth quarter of 2020, which showed a significant recovery in retail sales for its flagship Anta brand and stronger growth for Fila and the other brands in its portfolio, namely Descente, Kolon Sport, Sprandi, and Kingkow. ...
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News briefs
Yue Yuen’s manufacturing revenues fall by 27%
Yue Yuen’s revenues from footwear manufacturing fell by 27 percent in terms of U.S. dollars in 2020, including a drop of 16 percent in December. The group’s retail subsidiary, Pou Sheng, improved its sales by 1 percent thanks to a strong finish of the year, with sales up by 11 ...
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Article
China Dongxiang sees profits surge due to Japan sale
The sale of the Japanese Kappa trademark lifted China Dongxiang’s profits for the six-month period ended in Sept. 2020, which rose to 1,116 million yuan renminbi (€140.6m-$170.0m), up from RMB 188 million for the year-ago period. On the other hand, the company’s gross margin contracted by 5.3 percentage points to ...
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Article
Losses continue for Yue Yuen
Despite China’s resilience against the pandemic in the third quarter, Yue Yen Industrial Holdings remained in the red, following two quarters of losses. The company was strongly impacted by government measures to contain the spread of the disease at the start of the year, and although the Pou Sheng Chinese ...
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Generally positive results for the Chinese sports brands
Chinese companies don’t publish detailed quarterly results, but all the four major public sporting goods companies except 361 Degrees had something positive to say in their preliminary operational updates for the third quarter of 2000, confirming the Chinese industry’s recovery from the coronavirus pandemic. Li Ning Company reported an improvement ...
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News briefs
BasicNet reacquires the Kappa brand in Japan
China Dongxiang has agreed to sell the rights to the Kappa brand in Japan for $13 million. BasicNet plans to give a major boost to brand’s development in the country, where Kappa generated sales of $30 million in 2019 through Phenix and its licensees. China Dongxiang will continue to focus ...
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Article
Xtep’s new acquisitions boost turnover, but profits drop
Last year’s acquisition of K-Swiss and its various footwear labels, including Palladium and Supra, helped Xtep International Holdings of China to show good revenues for the first half of this year. A smaller contribution came from the company’s new joint venture with Wolverine Worldwide, from the Merrell and Saucony brands. ...
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ArticleNew strategies make Li Ning resilient
Li Ning fared better than most of its Chinese peers during the first half. While its net income declined by 14 percent from the year-ago period to 683.3 million yuan renminbi (€82.8m-$98.7m) in reported terms, its adjusted net income progressed by 22 percent when excluding a RMB 269.9 million (€32.7m-$39.0m) ...
