ANNORA VIETNAM FOOTWEAR LIMITED

ANNORA Vietnam Footwear Limited: A Key Exporter Powering Vietnam’s Global Shoe Industry

ANNORA Vietnam Footwear Limited (CÔNG TY TNHH GIẦY ANNORA VIỆT NAM) stands out as one of Vietnam’s top-performing footwear manufacturers and exporters, operating from the strategic Nghi Son Economic Zone in Thanh Hoa Province. As Vietnam cements its reputation as a global footwear production hub, ANNORA has emerged as a major contributor to the country’s rising export turnover and global supply chain relevance.

Company Overview

Established on May 26, 2010, ANNORA Vietnam Footwear Limited is a 100% foreign direct investment (FDI)enterprise owned by GREAT ASCENT TRADING LIMITED, based in Hong Kong. The company operates as a one-member limited liability company, with a paid-up capital of USD 78.7 million and a workforce of over 23,000 employees—making it one of the largest employers in the region.

Led by Mr. CHANG CHIH PAN, a Taiwanese national who serves as both Chairman and General Director, ANNORA specializes in the manufacturing of sports footwear for internationally recognized brands such as Nike and Converse. This strategic client base reflects the company’s adherence to high-quality standards, compliance, and efficient production capability.

Financial Performance and Growth

As of the end of 2024, ANNORA reported:

• Total Assets: USD 129.12 million

• Total Sales: USD 138.63 million (▲ 5.36% YoY)

• Profit: USD 3.53 million (▼ 20.03% YoY)

• Equity: USD 110.2 million (▲ 19.18% YoY)

• Working Capital: USD 25.64 million

While sales revenue rebounded positively after a slight dip in 2023, profitability declined by 20%, suggesting increased operational costs or investments related to supply chain transformation and compliance with international standards. Despite this, the company’s equity growth and asset expansion reflect its solid financial health and long-term strategic planning.

Role in Vietnam’s Footwear Export Landscape

In the first four months of 2025 alone, ANNORA recorded an export turnover of over USD 149 million, ranking among the top 10 footwear exporters in Vietnam. This performance is notable in the context of Vietnam’s broader industry, where total footwear exports reached nearly USD 10 billion during the same period.

Vietnam’s leading markets—the United States, European Union, Japan, and Canada—are increasingly sourcing from reliable manufacturers like ANNORA due to the country’s trade advantages under the EVFTA and CPTPP agreements.

Competitive Edge: Sustainability and Smart Manufacturing

Operating in an industry increasingly shaped by ESG (Environmental, Social, and Governance) criteria, ANNORA is well-positioned to meet global standards. The company is believed to be investing in:

• Automation and robotic assembly lines

• IoT-enabled supply chain systems

• Sustainable production practices and material traceability (likely using blockchain technologies)

These innovations align with growing expectations from international buyers like Nike and Converse, who demand low-emission production, fair labor practices, and compliance with global frameworks such as BSCI, SA8000, and LEED.

Strategic Location and Training Capacity

Located in Nghi Son Economic Zone, ANNORA benefits from tax incentives, proximity to port infrastructure, and access to a large labor pool. Moreover, its business license includes basic, intermediate, and college-level vocational training, suggesting a commitment to long-term human capital development in the region.

Conclusion

ANNORA Vietnam Footwear Limited exemplifies the growth potential and resilience of Vietnam’s footwear manufacturing sector. With strong export capacity, a high-profile client base, and ongoing investments in technology and sustainability, ANNORA is not just a major exporter—it is a forward-looking enterprise helping shape the future of global footwear production.

For investors, suppliers, and buyers, ANNORA represents a trustworthy partner and a strategic player in Vietnam’s evolving industrial landscape.