Chinese sportswear maker Li Ning Co Ltd has placed its confidence in its apparel business, which boosted the company’s half-year revenue and helped it stand out amid fierce market competition.
Chairman Li Ning said at a media briefing on Monday that he expected the “China LI-NING” series of sportswear products, which were released at the New York and Paris fashion weeks, to be a new source of the company’s revenue. Revenue from the apparel business rose 30.7 percent year-on-year in the first six months of the year, accounting for the bulk of the company’s total revenue, the sportswear brand reported. The substantial growth is mainly due to the low base of the apparel business in the past, as Li Ning did not focus on this division before, said Terence Tsang Wah-fung, the company’s chief financial officer.
He believed the apparel division would continue to grow in the future at a slower speed, but the proportion of apparel in total revenue would remain at the same level.
(ChinaDaily.com)
0 comments: