Yuqi subsidiary to build West Java shoe factory
08/02/2023
The company, Hong Kong Jiahe International, is particularly well-known to the beauty, personal care and domestic appliance industries. Its customer base includes Dyson, Philips, Oral B, Mario Badescu, Braun and Cosmetea, among others.
Under the terms of the loan agreement, jointly financed by banks Taipei Fubon, First Commercial and E Sun, the Yuqi subsidiary will be able to invest $83 million in establishing a production base in the province of West Java, which shares part of its western border with Indonesia's capital region, Jakarta.
Last year, Yuqi achieved revenues of approximately $805 million or 24.2 billion New Taiwan dollars, representing year-on-year growth of 56%.
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