Feiyue Group
China Feiyue Sewing Machinery Group was founded in 1986 by Qiu Jibao, and is one of the largest non-state enterprises in China. Its headquarters are in Taizhou, Zhejiang province, and the company has over 30 international offices in other countries.
Overview
The group produces 31 series of domestic and industrial sewing equipment, including over 300 separate products. Most of the group's sales are of computerized industrial sewing machines, electronic domestic sewing machines, and automated embroidery machines. Annual sales have reached US$166,000,000.00 worldwide and have been increasing steadily for the last decade, with the company supplying international companies such as the Singer Corporation.At the beginning of 2009, China Feiyue went through a restructuring process in order to minimize financial damage from the 2008 financial crisis. Feiyue saw its sales plummet due to fear of an economic downturn from its largest customers. As part of the restructuring, the company gained several new investors, and the company was able to enter other markets such as recycling, automotive and other industries with the help of the new participants.