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YOUNGOR'S Domestic Sales Increased By 30% To Advance Towards Women'S Wear

2009/2/24 0:00:00 10251

Due to varying degrees of losses in real estate and stock market investment, YOUNGOR (600177, SH) now focuses on the domestic apparel market. Last year, the newly acquired us new Malaysia group contributed nearly 620 million yuan to its annual turnover. In January 2008, YOUNGOR group bought the new men's clothing company Kellwood and Smart (Smart related US assets). The $120 million acquisition is the largest overseas merger in China's apparel industry. Xin Ma group's annual sales revenue is about 2 billion yuan. In the third quarter of last year, the company's revenue rose sharply by 101.3%. Among them, the new Ma group contributed about 90 million US dollars, equivalent to 620 million yuan; the real estate sector recognized revenue of nearly 900 million yuan, an increase of 150% over the previous year; the original textile and garment business income of the company was about 1 billion 200 million yuan, an increase of 16% over the same period last year; and other businesses such as electricity contributed about 50 million yuan. A reporter called YOUNGOR, and relevant officials at the office said that the integration of Singapore and Malaysia is still in progress. At present, the company is planning to move two production bases set up in Hongkong and Shenzhen to Chongqing. "In this way, labor costs will be lower in all respects." Li Rucheng, vice chairman of YOUNGOR, told reporters that the company's domestic apparel business grew well and its gross profit margin was high. At present, the company will focus on developing the main business - clothing, and will further expand the channel market. It is expected that sales revenue will reach 3 billion yuan in 2008 and gross profit margin will reach 73%. In the next two years, the company will focus on the development of leisure oriented young series, rich product system to meet the needs of market segments. It is estimated that in the next two years, the growth rate of domestic garment revenue will be around 20%, and the profit growth rate will be higher than that of the revenue growth. "The company's domestic sales situation has been developing very well, as of February 20th this year, domestic sales grew by about 30%." YOUNGOR said. In addition, the reporter also learned that at present, YOUNGOR is ready to enter the women's clothing market to enrich the product line. Wang Xiaonan: editor in charge