10 Sep Pou Sheng’s Retail Business Boosts Yue Yuen Sales
Yue Yuen Industrial (Holdings) Limited, the world’s largest branded footwear manufacturer, reported net consolidated operating revenue grew 1.5 percent to $665.5 million in August, thanks to continued double-digit growth at its Chinese retailing subsidiary, which is pioneering the operation of multi-branded sporting goods stores in China.
The results put its total sales less sales discounts and sales returns at $5.61 billion for the eight months ended August 31, up 6.6 percent from the comparable period in 2014.
The sum includes results at its Pou Sheng International (Holdings) Limited, a wholly owned subsidiary that is among the largest retailers and distributors of international athletic and outdoor footwear and apparel brands in mainland China. Pou Sheng’s consolidated operating revenue surged 16.1 percent to $186.4 million in August and 21.2 percent to $1.54 billion for the eight months ended Aug. 31 compared with the comparable periods in 2014.
Pou Sheng, which sells through more than 6,000 owned and franchised points of sale across China, Taiwan and Hong Kong, specializes in helping global brands enter the Chinese market through both mono-branded and multi-branded stores. It operates mono-branded stores under license for such brands as Adidas, Asics, Columbia, Ked’s, Oakley, O’Neill, Puma, Rockport and Sperry Top-Sider.