The subject is wholly – owned subsidiary of TECHPOWER INTERNATIONAL LIMITED. Its core business is manufacturing footwear for brands like NIKE, CONVERSE, ADIDAS, REEBOK... Besides, the company also processes handbags, suitcases and other related accessories. Products are mainly exported to foreign countries for consumption.Because the subject manufactured products according to customer's orders, its risk of overstock could be controllable. Nevertheless, output consumption was not favorable due to supply chain disruption under adverse impact of COVID 19 pandemic. Reputable brands like NIKE, CONVERSE, ADIDAS… encountered a strong decline in offline sales due to the closure of shopping stores in North – American countries, EU region when governments applied national blockades in first months of 2020. Besides, the pandemic also impoverished consumer purchasing power. Online sales could not indemnify expenses incurred. According to press information, NIKE Group's sales dropped 38% from Mar – May in 2020. In Q1/ 2020, ADIDAS's sale fell by 19% to EUR 4.75 billion. Profit after tax dropped by 97% to EUR 20 million.
Headquarters
Lot 10-13, 26-37, Road 3, Linh Trung II Export Processing Zone, Binh Chieu Ward
Ho Chi Minh municipality; South Eastern Vietnam;
Postal Code: 70000-74000
Contact Details: Purchase the Freetrend Industrial A (Vietnam) Co., Ltd report to view the information.
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