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zhjxly82
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5 Posts
registered: 24.10.2013
30.10.2013, 07:39
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1013 Posts
registered: 23.10.2013
30.10.2013, 11:57
The Shoe Suits
Chinese sportswearmaker 361 Degrees International wants to reach young consumers, especially in the nation's frontier markets, who have "one additional degree of passion" for their sport of choice. That's the pitch line that comes with sponsorship of teams along with events around an ever more athleticminded country.
"Brand building will be of primary relevance, because everything is dependent upon it," mentioned 361 President Ding Wuhao, area of the founding family. "We're trading a lot of money sponsoring situations at the professional level, like the Asian Games, along with the grassroots level to raise our brand awareness."printnewslettershareDigg This!FacebookRedditAstride the global giants Nike along with Adidas, 361 and its chief opponents (Anta, Li Ning, Peak and Xtep) constitute the "Big Five" of China's Hong Konglisted sportswearmakers, each with over 7,000 stores and divided just as between shoes as well as apparel.
Number three in dimensions among the Big 5, 361 repeats on the Finest Under a Billion following notching another round regarding impressive resultsnet profit hopped 30% to 1.2 million yuan ($185 million) during the year concluded June 30, whilst revenue rose 26% to 5.5 billion yuan ($845 zillion). The company's stock leaped 15% on that earnings headline, although its P/E multiple still lags behind opponents (361 blames a lack of analyst coverage).
In north China, where 361 broadened in a relative deficiency of competition and now offers 40% of its stores, operations points to continued market share growth. The company is additionally pushing quickly in to rapidly developing developed China, adding 2 hundred stores to its circle of 7,700 around the world.
What makes 361's earnings even more impressive is that they appear against a background of troubles elsewhere, as both Li Ning along with China Dongxiang, a smaller competing (and another BUB repeater),
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, recently given profit warnings in which sent all of the Large Five's shares tumbling.
Inside a filing to the Hong Kong trade, Dongxiang said the Chinese sportswear market had "normalized for you to low to midteens [growth] in the period of rapid enlargement between 2004 and also 2008, where beautiful growth rates that has reached over 30% or even a maximum of 45% ended up recorded."
Dimple Wuhao, 45, and family members are more optimistic. Their fatherinlaw, Ding Jiantong, opened his first shoe manufacturing plant in Jinjiang City, Fujian Land, in the 1980s. Today in his 70s along with long retired, the actual senior Ding picked his two daughters and soninlaw to expand capabilities with a new business that will become 361.
The two daughters remain active: Indent Huihuang,
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, 44, is 361's chairman,
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, and his brother Indent Huirong, 38,
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, serves as an executive director. Each has an 18% stake in 361 Diplomas, while their 45year old brotherinlaw holds 18.75% along with handles the press and investors.
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