Nike, Adidas supplier Pou Chen’s Vietnam unit to manufacture whole footwear
Pou Phong Vietnam Company Ltd., a subsidiary of Taiwan’s major athletic and casual footwear Pou Chen, is set to make whole shoes, according to a company report.
Footwear workers in Vietnam. Photo courtesy of Vietnam News Agency.
Pou Phong started its investments worth $115 million in Vietnam’s southern province of Dong Nai in 2017. It had a designed capacity of manufacturing 96 million pairs of shoe soles, 24 million pairs of shoe accessories, 420 tons of materials, and 96 tons of molds.
Under a new plan, the company will stop making shoe materials and molds. While the production of shoe soles and accessories remains, the firm will add an output of 3.6 million pairs of shoes and 3.6 million pairs of shoe upper parts.
The firm plans to complete related administrative procedures in May-July, install equipment and start trial production in August-October, and see the expansion segment officially enter operation from November 2024.
Footwear is a key export product of Vietnam. The country’s total exports rose 15.7% year-on-year to $226.98 billion during January-July 2024, up 14.5% from January-June. Footwear accounted for $12.92 billion, up 10.1% year-on-year. It was the fifth-biggest figure, only behind electronics, computers and components; phones and components; machinery and equipment; and textile and garment.
Vietnam is a key production hub of Pou Chen, one of the largest branded athletic and casual footwear manufacturers in the world and a supplier to Nike, Adidas, Puma, and Reebok. Its factories in Indonesia, Vietnam, and mainland China accounted for 49%, 34%, and 12% of the firm’s total volume of shoes shipped in 2023, respectively.
- Related News
- Read More
Chinese investment capital shifts to green energy, electronics, automobiles: official
Chinese direct investment in Vietnam has traditionally focused on the manufacturing sector and it is now transitioning toward green energy, electronics, and automobiles.
Industries - Thu, December 19, 2024 | 4:30 pm GMT+7
BP seeks to help long-delayed power plant in central Vietnam with coal-to-LNG conversion
British oil-gas giant BP seeks to help the Cong Thanh coal-fired power project in Thanh Hoa province with its transition into an LNG-fired plant, said Chris Bramley, vice president of integrated gas & power at BP.
Energy - Thu, December 19, 2024 | 3:48 pm GMT+7
Vietnam refinery operator BSR plans listing in Jan next year
Binh Son Refining and Petrochemical JSC (BSR), the operator of Vietnam’s first oil refinery Dung Quat, plans to list its shares on the Ho Chi Minh Stock Exchange (HoSE) on January 17, 2025.
Companies - Thu, December 19, 2024 | 3:23 pm GMT+7
The 'key' that helps Phu Quoc make a 'leap' to become global destination
The famtrip “Journey to Paradise Island” from December 4-6, 2024 has brought Phu Quoc to the center of attention of the tourism industry in the world.
Travel - Thu, December 19, 2024 | 2:10 pm GMT+7
Dollar index reaches 2-year high, Vietnam’s exchange rate hits new peak
The exchange rate in Vietnam made a new peak on Thursday as the State Bank of Vietnam, the country’s central bank, increased its central exchange rate by VND26, or 0.11%, to VND24,304 per USD.
Banking - Thu, December 19, 2024 | 11:59 am GMT+7
Chip giant Synopsys opens office in Hanoi, fourth in Vietnam
Synopsys, a leading chip business based in California, opened its Hanoi office on Wednesday, the fourth in Vietnam after two in Ho Chi Minh City and one in Danang city, furthering its involvement in Vietnam’s semiconductor sector.
Companies - Thu, December 19, 2024 | 11:32 am GMT+7
Eleven people die as coffee shop in Hanoi burnt
Legal proceedings have been launched against a man in Hanoi who burnt down a coffee shop with gasoline in late evening Wednesday, killing 11 people.
Society - Thu, December 19, 2024 | 8:35 am GMT+7
Vietnam to be key link in global LNG chain on rising demand: experts
Vietnam is emerging as a potential LNG importer and expected to become a key link in the global LNG chain, says Nguyen Duc Tung from the Vietnam Institute of Strategy and Policy for Industry and Trade.
Energy - Thu, December 19, 2024 | 8:16 am GMT+7
Latvian man sentenced in Vietnam for operating loan shark ring with 1,380% interest rate
Aigars Plivěs, a Latvian national, on Monday was sentenced to two years and nine months in prison for operating three companies that offered loans with high interest rates of 401-1,379.7% per year, earning illicit gains of more than VND4.15 trillion ($163 million).
Society - Wed, December 18, 2024 | 10:37 pm GMT+7
April Tea Shop to close down amid F&B sector woes
The Tiem tra thang 4 (April Tea Shop), a popular check-in and beverage destination for young people in Ho Chi Minh City, has announced it will shut down on December 25, ending a five-year journey.
Companies - Wed, December 18, 2024 | 9:56 pm GMT+7
New tourism trends seen in Thailand
Thailand is gearing up to attract more luxury and high-spending travellers in a bid to stimulate post-pandemic expenditure.
Southeast Asia - Wed, December 18, 2024 | 9:37 pm GMT+7
Thailand to allow more foreign workers in business
The Thai cabinet has approved in principle increasing the number of foreign workers at businesses to deal with labour shortage, according to Thai government spokesman Jirayu Huangsab.
Southeast Asia - Wed, December 18, 2024 | 9:25 pm GMT+7
Indonesia to build first nuclear power plant
Indonesia is planning to build its first nuclear power plant on Kelasa island in Bangka Belitung province.
Southeast Asia - Wed, December 18, 2024 | 9:18 pm GMT+7
Thailand announces research and innovation direction for 2025
The recent “Research X Innovation 2025” conference examined global trends and announced Thailand’s research and innovation direction for 2025.
Southeast Asia - Wed, December 18, 2024 | 8:49 pm GMT+7
Malaysia eyes to become ASEAN’s next-generation vehicle hub
The Malaysian Investment Development Authority (MIDA) has partnered with DRB-Hicom Bhd and Zhejiang Geely Holding Group Co. Ltd. to develop the Automotive Hi-Tech Valley (AHTV) in Tanjung Malim, Perak, with a goal of turning the country into ASEAN’s hub for next-generation vehicles (NxGV) and energy-efficient vehicles.
Southeast Asia - Wed, December 18, 2024 | 8:46 pm GMT+7
Thai IP developer Amata eyes clean energy cooperation with northern Vietnam province
Amata Group of Thailand on Wednesday recommended the northern province of Quang Ninh foster cooperation in clean energy development in the time to come.
Investing - Wed, December 18, 2024 | 4:54 pm GMT+7
