China Dongxiang Announces 4Q2010 Retail Same Store Sales Performance
[13 January 2011, 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 fourth quarter of 2010 recorded mid-single-digit growth against the same period last year.
Ms. Sandrine Zerbib, CEO and Executive Director of China Dongxiang, said, "The same-store sales of Kappa Brand in the fourth quarter of 2010 continued to grow in a stable manner for the second consecutive quarter despite an aggressive discounting environment in the sportswear industry, especially in lower tier markets. This is the result of our close cooperation with and support to our retail partners, as well as the implementation of a series of operational adjustments. Going forward, in order to pave the way for the long term growth of our business, we will remain focused on improving the retail end, forging a stronger relationship with our retail partners and offering better support to and management of retail operation, especially in lower tier markets. Likewise, we are working tightly with our retail partners to further improve their inventory level."
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.