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The Shoe Fits
Chinese sportswearmaker 361 Degrees International wants to reach small consumers, especially in the country's frontier markets, who have "one further degree of passion" for their activity of choice. That's the toss line that comes with sponsorship of teams as well as events around an extremely athleticminded country.
"Brand building will be of primary importance,parajumpers denali, because everything is dependent upon it," explained 361 President Ding Wuhao,parajumpers kodiak, part of the founding family. "We're shelling out a lot of money sponsoring occasions at the professional level, just like the Asian Games,parkas parajumpers, plus the grassroots level to raise each of our brand awareness."printnewslettershareDigg It!FacebookRedditAstride the global giants Nike along with Adidas, 361 and its chief competition (Anta, Li Ning, Peak and Xtep) constitute the "Big Five" of China's Hong Konglisted sportswearmakers, each exceeding 7,000 retail stores and divided similarly between shoes and also apparel.
Number three in size among the Big A few, 361 repeats on the Very best Under a Billion after notching another round involving impressive resultsnet profit dived 30% to 1.2 billion yuan ($185 million) during the year ended June 30, although revenue rose 26% to 5.5 billion yuan ($845 zillion). The company's stock hopped 15% on that earnings announcement, although its P/E numerous still lags behind competitors (361 blames a lack of analyst coverage).
In north China, where 361 broadened in a relative absence of competition and now offers 40% of its stores, operations points to continued business growth. The company is additionally pushing quickly directly into rapidly developing western China, adding Two hundred stores to its system of 7,700 across the country.
What makes 361's earnings much more impressive is that they come against a history of troubles elsewhere, as both Li Ning and also China Dongxiang,parajumpers jakke udsalg, a smaller compete with (and another BUB repeater), recently released profit warnings that will sent all of the Massive Five's shares tumbling.
In a filing to the Hong Kong exchange, Dongxiang said the Chinese sportswear market had "normalized to low to midteens [growth] through the period of rapid growth between 2004 along with 2008, where stunning growth rates that has reached over 30% or even a maximum of 45% were recorded."
Reduction Wuhao, 45, and family members are more optimistic. His or her fatherinlaw, Ding Jiantong, opened their first shoe factory in Jinjiang City, Fujian Land, in the 1980s. Currently in his 70s as well as long retired, the senior Ding picked his two kids and soninlaw to expand horizons with a new business that would become 361.
The two kids remain active: Dimple Huihuang, 44, is 361's chairman, and his brother Indent Huirong, 38, serves as an executive director. Each has an 18% stake in 361 Levels, while their 45year aged brotherinlaw holds 18.75% as well as handles the media and investors.
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