China’s biggest footwear retailer predicts probl - sportstextiles: Lea SportsTextiles

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China’s biggest footwear retailer predicts problems

28/10/2014
China-based footwear retailer and manufacturer Belle has reported an increase in sales and profits for the first half of the year, despite a sluggish climate

Revenues rose to 18.56 billion yuan ($3 billion) from 16.74 billion yuan while profit climbed to 2.08 billion yuan ($340 million) from 1.93 billion yuan.

However, its CEO, Sheng Baijiao, warned: "Due to rapid growth of shopping malls and e-commerce, foot traffic is drifting away from the department stores. The traffic issue is unlikely to go away in the near future."

The company in February said a move inland for manufacturing was paying dividends.

The company, which sells Nike, Puma and Adidas though a network of 13,491 footwear outlets and 6,055 sportswear and apparel outlets, also makes shoes under the brands Belle, Teenmix, Tata, Staccato, Senda, Basto, Jipi Japa, Millie’s, Joy & Peace,15MINS and Mirabell.

Related stories:

Sportswear takes over footwear for Chinese giant Belle 17/05/2017
Steadily-growing Belle predicts positive outlook for sportswear in China 29/05/2015
Sportswear sales robust for Belle 27/05/2014
Belle avoids wage increase by moving manufacturing inland 24/02/2014
China's biggest athletic shoe group bucks trend 30/08/2013
Belle adds 2,600 outlets in 2012 25/03/2013
Belle defies gloom with 890 store openings in 2012 14/01/2013

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