Peak feels the pain
02/01/2013
However, Peak continues to feel the pain. Venture capital firm Sequoia Capital, is reported to have reduced its stake in the sports brand from more than 6% to just over 3.6% in the face of falling profits.
In the first half of 2012, Peak’s profits declined by 43.3% compared to the same period a year earlier, reaching $38.5 million. The company still has more than 7,000 own-brand stores, mostly in second- and third-tier cities across China.
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