Solid global demand for athletic shoes boosts Yue Yuen
Specialist athletic shoe manufacturing group Yue Yuen, a strategic partner to prominent sports brands, has reported full year revenues of just under $9 billion for 2022. This figure represents growth of 5.1% year on year for the Hong Kong-based group.
In terms of volume, Yue Yuen shipped 272.7 million pairs of shoes in the course of last year, an increase of 14.4% compared to 2021. The average selling price for these shoes was $20.93 per pair, an increase of 12% year on year, which the group described as robust.
Yue Yuen said these results reflected “solid global demand” for the shoes it makes, but it also pointed out that supply chain disruptions at its factories in Vietnam in the third quarter of 2021 had helped it achieve a favourable comparison in 2022.
