Good start to the year for Yue Yuen
Athletic footwear manufacturing group Yue Yuen, an outsource manufacturing partner to Nike, adidas, Reebok, New Balance, Puma, Under Armour, Converse, Merrell, Asics and around 60 other brands, has reported revenues of $2.5 billion for the first quarter of 2021. This represents an increase of 26.6% year on year.
It said the rise in revenue was attributable to increased orders and the ongoing recovery of global demand for athletic shoes.
“Despite experiencing a good start to the year,” Yue Yuen said, “the group recognises the uncertainties that remain in the months ahead, including the risk of continued volatility in consumer sentiment, as well as the operational risks posed by the resurgence of covid-19 in certain south-east Asian countries, where a small number of its production sites are located, which could disrupt the recovery of its manufacturing order book.”
