Chinese brand bucks trend with 15% revenue increase
29/01/2014
Group revenues increased to reach a high of RMB1.9 billion ($318 million), with shoes making up around half ($170 million), clothing accounted for 43% ($137 million) and accessories represented the remaining 3% ($11 million).
The company said it is on track to move into its new production facility at Quangang by the end of February 2014, which will expand capacity from eight production lines to 10.
Chairman Lin Huoyan said: “I am delighted to report that our trading performance has continued to improve year-on-year, and I am confident that this trend will continue into 2014.”
The company employs 3,000 people and had 3,000 stores in 2011 (the most recent figure available on its website).
Naibu’s domestic rivals including Li-Ning and Anta struggled in the past two years, closing stores and reporting declining revenues.
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