Reported 9 months ago
As the second half of the year approaches, adjustments in brand customer inventory are nearing completion, signaling the recovery of the shoe industry post-pandemic. Major factories are investing in Southeast Asia, particularly in Indonesia and India, taking advantage of the demographic dividend to control costs. The industry is optimistic about the market potential for the next 20 years, with companies like Bao Cheng and Feng Tai expanding facilities in Indonesia and India, respectively. This shift to Southeast Asia is driven by abundant labor resources in countries like Vietnam, Indonesia, and India, making them prime choices for production. Analysts foresee an improvement in operations in the second half of the year, buoyed by major sporting events like the Olympics boosting demand for sports and casual footwear.
Source: YAHOO