China Dongxiang: Spectacular same-store sales for the second quarter underpinned by a 21.5% YoY growth
(16 July 2015, Hong Kong) China Dongxiang (Group) Co., Ltd. ("China Dongxiang" or the "Company", HKEx stock code: 3818, and the "Group" together with its subsidiaries), the leading international sportswear brand enterprise in the PRC, announced a 21.5% year-on-year growth in the Kappa brand’s same-store sales in China for the second quarter of 2015. There were a total of 1,231 Kappa retail stores by the second quarter of 2015, representing a net increase of 21 stores as compared with the full-year figure of last year. Meanwhile, Kappa also performed well in the trade order for the full year of 2015, reporting a low double-digit growth in the amount (in terms of tag price) of orders as compared to last year.
Mr. Chen Yihong, Chairman, CEO and Executive Director of China Dongxiang, commented on the results: "The spectacular retail operating figures for Kappa are mainly attributable to efforts to streamline our brands and our business, sales and supply-chain models, which have gradually facilitated the revolutionary transition of our previous "wholesale" model to the new "brand + retail" model."
About China Dongxiang (Group) Co., Ltd.
China Dongxiang (Group) Co., Ltd. (HKEx: 3818) is a leading international sportswear brand enterprise in China which has been listed on the Main Board of the Hong Kong Stock Exchange since 10 October 2007. The Group is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang currently owns all rights to the internationally renowned Kappa brand in China, Macau and Japan. Its products convey a vibrant, fashionable and youthful image hugely popular with China's fast-growing base of consumers with potentially high spending powers. On 1 May 2008, China Dongxiang completed the acquisition of Phenix, a Japanese sportswear enterprise. Phenix is the most popular ski brand in Japan with the largest market share, as well as a well-known brand in the international market.
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