Exceed boosted by sportswear growth in China
China-based footwear and sportswear firm Exceed Company, which owns the Xidelong brand, has posted higher sales for its third quarter ended September 30.
Revenue for the period was RMB832.4 million ($124.4 million), up 25.8% compared with the third quarter of 2009. Gross profit was up 28.3% to RMB252.8 million, while net profit was RMB111.0 million, up 98.6% year-on-year.
Shuipan Lin, Exceed's founder, chairman and CEO, said: "Positive brand momentum from our new 'happy lifestyle' advertising campaign and new product launches boosted our results by tapping the potential of the younger population, which is the high growth segment of the sportswear market in China. With our continued retail network expansion, in terms of both the number and size of our retail stores, we are broadening our reach in the growing sportswear market.”
He added: "We expect our strong growth momentum to continue. We continue to benefit from China's consumer and sportswear market growth and the success of our growth strategies, as demonstrated by the strong growth we recorded in our 2011 spring/summer sales fair, which was one of the strongest in the industry.”
