China Dongxiang Announces 3Q2010 Retail Same Store Sales Performance
[18 Oct 2010, Hong Kong] The leading international sportswear brand enterprise in the PRC, China Dongxiang (Group) Co., Ltd. ("China Dongxiang" or "the Company"; stock code: 3818, together with its subsidiaries, the "Group") today announced that the Group's retail same store sales ("SSS") of Kappa Brand in China market in the third quarter of 2010 increased by 4.7% against the same period last year.
Mr. Qin Dazhong, CEO of China Dongxiang, said, "Our 3Q2010 SSS performance was in line with managements' expectation. This was mainly driven by our close cooperation with the retail end, as well as our increased efforts in promotions and marketing of Kappa brand, which also resulted in a slight improvement in retail inventory level. This in turn has helped to build a solid foundation for our long-term development. In addition, our SSS during the golden week in October achieved 13% growth against the same period last year. We are confident to maintain a stable growth pace going forward."
About China Dongxiang (Group) Co., Ltd.
China Dongxiang (Group) Co., Ltd. is a leading international sportswear brand enterprise based in China and was successfully listed on the Stock Exchange of Hong Kong Limited on 10 October 2007. The Group is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang owns all rights to the internationally recognized Kappa Brand in China, Macau and Japan and Robe Di Kappa Brand in China. Its products convey an active, fashionable and youthful image and are warmly welcomed by China's fast growing and high potential consumers. The Group completed the acquisition of a Japan sportswear enterprise Phenix on 1 May 2008. Phenix, the most popular ski brand in Japan with the largest market share, has gained strong recognition in the international market.