Nine-month figures show declines in volume and value for Yue Yuen
Major outsource athletic footwear manufacturer Yue Yuen has announced revenues of just over $6 billion for the first nine months of 2020. Compared to the same period last year, revenues fell by 19.1%.
The group, which makes shoes for brands, including Merrell, Salomon, Puma, Under Amour, Reebok, Converse, ASICS, New Balance, Puma, Nike and adidas, attributed the fall in revenue to covid-19, mostly.
In terms of volume, it made 178.8 million pairs of shoes over the nine-month period, a decline of 25.4% year on year. It explained this by saying customers had delayed shipments and, in some cases, cancelled orders in response to lower consumer demand.
Its average selling price increased by 4.9% to $17.88 per pair. Yue Yuen said this was primarily because of changes it made to its product portfolio.
