Paiho branches out from sport to entertainment, wearable devices, automotive and personal hygiene
World’s largest touch fastener original design manufacturer is diversifying to sustain growth momentum
Country Business Reports interviews and articles by Discovery Reports www.discoveryreports.com
Sporting goods supplier Paiho Group is running at high speed when it comes to expanding its product range. Building on nearly four decades of expertise in developing high-quality materials for the world’s top 20 sporting brands, Paiho is moving to other product arenas including entertainment, wearable devices, automotive and personal hygiene. It also entered the virtual reality supply chain as the exclusive head strap supplier for Vive, the headset brand of Taiwanese smartphone manufacturer HTC.
“While our traditional products such as webbings, touch fasteners and elastics enjoy competitive advantage, we have ventured into new applications to sustain our growth momentum,” says president Vergil Cheng. “Having a diversified portfolio allows us to provide customers with a one-stop shopping service.”
Publicly listed and family-owned Paiho is the world’s largest touch fastener original design manufacturer. Its footwear and apparel core products comprise roughly 70 per cent of its business. Paiho nurtures long-standing relationships with international sportswear brands such as Nike, Adidas, Reebok, Asics, Mizuno and UnderArmour.
The company invests 2.5 per cent of its annual revenues in research and development. Its TRIHOOK brand – which covers hook and loop fasteners, elastic webbings and shoelaces – is a recognised guarantee of quality in the shoe industry. Paiho’s new product, four-way stretch shoe uppers, was selected as the main fabric for Adidas’ soccer cleats, marking a milestone for the company. “We have recalibrated ourselves from being a small parts manufacturer to a main materials supplier in order to drive our sales success,” Cheng says.
Paiho’s latest products include Easy Tape, a softer and thinner fastener used in car seat assembly straps, diapers, sportswear, medical care and electronics accessories. Moisture- and powder-resistant, Easy Tape has adjustable features and can withstand repeated use. In keeping with its environmental initiatives, Paiho developed its Sparta running shoes series made from recycled plastic bottle yarns, with shoe uppers that require minimal stitching.
In Asia, the company ensures speedy time-to-market services to customers. Aside from Taiwan, it has manufacturing bases in Vietnam, Indonesia and in Wuxi and Dongguan in mainland China. “We reach out to end users through direct marketing and not through third-party agents. This competitive advantage allows us to get a first-hand analysis of market demand and create innovative products,” Cheng says.
Paiho targets to increase and promote its new product lines in the region and forge more partnerships across industries. “We consistently bring out new ideas with wider customisation options to match the requirements of our client partners,” Cheng says.