Chinese sportswear groups out of mire as Ever-Glory reports 25% growth
01/04/2015
Its peers such as Li Ning and Anta have suffered stagnations over the past two years and balance sheets hit by an oversupply of inventory. However, these, too, have seen recent turnarounds in fortunes.
Edward Yihua Kang, CEO of Ever-Glory, said: "I'm pleased to see our business maintain stable growth, even though the macro environment remained challenging in 2014. Our retail business added two retail brands, Velwin and Sea To Sky, which also sell women's apparel but have different brand positioning than La go go.
“We believe the multi-brand strategy will improve our market share and expand our competitive position through the accurate positioning of each brand. In our wholesale business, we remain dedicated to service well-known brands and retail stores by providing a complete set of supply chain management. In 2015, we will continue to focus on high value-added solutions."
Ever-Glory had 1,201 retail stores as of December 31, 2014, compared with 960 retail stores the year earlier.
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