Belle avoids wage increase by moving manufacturing inland
24/02/2014
Chinese sportswear and footwear group Belle has reported a 10% rise in revenue to RMB36,249.1 million ($5.9 billion) for the year ending December 31, 2013 and a 4.4% rise in profit ($925 million). It said manufacturing labour costs did not increase because it had moved production inland. The footwear business recorded revenue growth of 5.9%, a...