XIAMEN, China, August 28, 2014 /PRNewswire/-- China Xiniya Fashion Limited ("Xiniya" or the "Company" NYSE: XNY), a leading provider of men's business casual apparel in China, today announced that it plans to release its unaudited financial ...Read More »
-- Turnover Reached RMB766.2 Million
-- Gross Profit Increased by 13.0% to RMB269.1 Million
HONG KONG, Aug. 28, 2014 /PRNewswire/ -- China Fordoo Holdings Limited ("Fordoo" or the "Company" and, together with its subsidiaries, the "Group", Stock Code: 2399), a reputable menswear brand in the PRC, is pleased to announce its interim results for the period ended 30 June 2014 (the "period").
During the period, benefited from the growing recognition of the Group's "FORDOO" brand and an increase in the average wholesale price of products, the Group's turnover increased to RMB766.2 million, representing an increase of 6.8% over the corresponding period last year (1H2013: RMB717.4 million). The expansion of distribution network further strengthened the profitability of the Group. Net profit increased by 8.5% to RMB128.7 million over the corresponding period in 2013. Basic and diluted earnings per share were RMB36 cents, representing an increase of 8.5% as compared to the corresponding period last year (1H2013: RMB33 cents).
Mr. Kwok Kin Sun, Executive Director, Chief Executive Officer and Chairman of the Board said, "In the first half of 2014, China's economic growth continued to slowdown and the retail market remained weak. For the apparel retail industry, the total retail sales of garments, hats, footwear and knitwear recorded a 10.0% year-on-year increase, which was 1.9 percentage points lower than that of the corresponding period in 2013. Therefore, the Group adopted a prudent operation strategy and focused on improving the distribution channel management and enhancing product quality and design. We are very satisfied that the purchase orders from the sales fair held in March 2014 increased by 24% from the ones held in September 2013."
As a reputable menswear brand in the PRC, by product type, Fordoo continued to lead the market in the men's trousers segment. In the first half of 2014, turnover from men's trousers increased by 16.9% to RMB458.1 million as compared to the corresponding period last year (1H2013: RMB392.0 million). In addition, sales of trousers remained the major contributor to the total turnover with a proportion of 59.8%. In terms of product style, the Group maintained a healthy growth in the business formal and business casual series. The business casual series continued to be the largest turnover contributor to the Group with a proportion of 63.4% (1H2013: 61.1%).
The Group has been striving to optimize its retail and sales network for the sustainable business growth. As of 30 June 2014, the retail and distribution network of the Group further expanded to 52 distributors and 180 sub-distributors. During the period, the Group had a total 1,353 retail outlets (including 2 self-operated retail stores), representing a net increase of 53 retail outlets as at 31 December 2013, spanning over 240 cities and 31 provinces, autonomous regions and central government-administered municipalities in the PRC. The increase in retail outlets was a strategy to further penetrate into the markets in the second and third-tier cities.
In the first half of 2014, as part of the Group's marketing and promotion plan to enhance and reinforce its brand image, the renovation of 41 existing stores had completed, and the plan for renovating another 59 stores by the end of the year remained on track. In addition, the Group continued to actively carry out regular advertising and promotion campaign through various channels, such as advertisements in fashion magazines, promotion activities in the internet and other media, as well as advertisements on large outdoor billboards in airports, highways and well-known department stores.
Looking ahead to the second half of 2014, the Group sustains its cautiously optimistic view with respect to the growth of consumer demand in menswear market in China. It is confident that the ongoing urbanization and expanding middle class in China will generate a strong demand on apparels in the long run. Therefore, the Group maintains its target for distributors of adding approximately 200 retail outlets within the year. In the coming 2014 spring/summer sales fair to be held in September 2014, the Group will launch a new casual fashion line targeting young customers aged 18 to 30.
Mr. Kwok concluded, "Fordoo will strive to seize the opportunities arising from the continuous growth of the men's casual wear and trousers market in PRC, as well as strengthen its cooperation with the distributors and sub-distributors. The Group will equip itself for the future development through enhancing its product design and development capability and kicking off the implementation of the ERP system. Driven by the success of men's trousers, business formal and business casual series, it is believed that the Group could continue its sustainable growth and maximize shareholders' returns."
- End -
About China Fordoo Holdings Limited
Fordoo is a reputable menswear brand in the PRC. Positioned in the middle-upper menswear segment, Fordoo primarily targets men aged 30 to 60. According to Frost & Sullivan, Fordoo brand was ranked sixth in the middle-upper menswear market with a market share of 2.9%, fifth in both the middle-upper business casual menswear segment and the middle-upper business formal menswear segment with respective market share of 4.0% and 2.9%, and second in the men's trousers category with a market share of 3.0%, all of which were in terms of retail sales in 2013. Fordoo manages and operates the business through a strategically integrated model, comprising brand management and marketing, design and product development, ordering process, procurement of raw materials, self-production and outsourced production and sales and distribution. As of 30 June 2014, Fordoo's distribution network comprised of 52 distributors, 180 sub-distributors and 1,353 retail outlets (excluding the two self-operated stores).
Issued by Porda Havas International Finance Communications Group for and on behalf of China Fordoo Holdings Limited.Read More »
Acclaimed Online Fashion Brand Milanoo Now Offering $10 as Bonus to All Their New Affiliate Publishers
Milanoo has just started offering a sign up bonus of $10 to their affiliate publishers worldwide in order to further expand their presence in the global market. The company's impressive line of products includes a wide range of c...Read More »
Online fashion store Milanoo.com is giving fashion bloggers all over the world an opportunity to boost their presence online and enjoy the best of Milanoo's must-have fashion. CHENGDU, China, August 22,...Read More »
LOS ANGELES, Aug. 21, 2014 /PRNewswire/ -- TOMS, the company that turned the idea of One for One™ into a global movement, today announced the signing of a definitive agreement to partner with Bain Capital, a leading global private investment firm, to accelerate the growth of the company and its giving programs around the world. TOMS Founder and Chief Shoe Giver Blake Mycoskie will continue as visionary of the company and remain the 50% owner of TOMS. Financial terms of the private transaction were not disclosed.
Founded in 2006, TOMS began as a shoe company that matched every pair of shoes purchased with a pair of new shoes given to a child in need – One for One. Since then, TOMS' giving has grown to serve other basic needs. TOMS Eyewear gives sight to a person in need with every pair of eyewear purchased, and TOMS Roasting Co. gives one week of clean water to a person in need for every bag of coffee purchased. To date, TOMS has given over 25 million new pairs of shoes to children in need and helped restore sight to more than 250,000 people.
"This partnership will enable TOMS to grow faster and give to more people in more ways than we could otherwise," said Mycoskie. "In eight short years, we've had incredible success, and now we need a strategic partner who shares our bold vision for the future and can help us realize it. We're thrilled that Bain Capital is fully aligned with our commitment to One for One, and clearly they have the expertise to help us improve our business and further expand the scale of our mission."
Mycoskie added, "While I believe TOMS has done a lot of good up to this point, there is so much more we can and should be doing. More importantly, I want TOMS to be relevant not only to the next generation, but the one after that, and far beyond."
Mycoskie plans to give away at least half of his profits from the transaction by establishing a fund that identifies and supports social entrepreneurship and other causes to which he and his wife, Heather, are deeply committed.
In keeping with the One for One promise, Bain Capital has committed to give back to the community through a new charitable endeavor, funded by Mycoskie and a matching investment from Bain Capital, which will be established to support social entrepreneurs around the world.
Bain Capital has a long track record of investing in and partnering with management teams to help grow companies. Some of its consumer and retail investments have included Canada Goose, Bombardier Recreational Products, Bright Horizons, Jack Wolfskin, The Sealy Corporation, Michaels Stores, The Gymboree Corporation, Dunkin' Brands Group, Burlington Stores and Dollarama.
"TOMS is synonymous with social responsibility and corporate impact and has demonstrated the power of being an authentic, mission-driven organization," said Ryan Cotton, a Principal at Bain Capital. "We are extremely excited to partner with Blake Mycoskie to support the continued growth of the business and the expansion of the TOMS mission. As a firm and as individuals, we are strongly aligned with the principles of the One for One movement and its contribution to the global community."
"Charitable involvement, social impact and global responsibility have always been important at Bain Capital," said Josh Bekenstein, a Managing Director and a co-founder of Bain Capital. "We donate time, expertise and resources to a wide array of charitable and non-profit organizations around the world each year through partnership initiatives that make a real difference in our communities. This investment and our support of TOMS' mission are entirely consistent with this approach."
The Sage Group, LLC is serving as the exclusive financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to TOMS. Financo, LLC. is serving as financial advisor, Ropes & Gray LLP is acting as legal counsel, and PwC LLP is serving as accounting advisor to Bain Capital. Committed financing for the transaction is being provided by Jefferies & Company, Inc.
In 2006, American traveler Blake Mycoskie befriended children in a village in Argentina and found they had no shoes to protect their feet. Wanting to help, he created TOMS, a company that would match every pair of shoes purchased with a pair of new shoes given to a child in need. One for One.® Since then, TOMS has given nearly 20 million pairs of new shoes to children in need.
Five years later, TOMS realized this movement could serve other basic needs and launched TOMS Eyewear. With every pair purchased, TOMS will help give sight to a person in need. One for One.® Since launching, TOMS has helped save or restore the sight of more than 200,000 people worldwide.
In 2014, TOMS launched TOMS Roasting Co. For each bag of coffee beans sold a person will get clean water for a week, and for every cup of coffee sold someone gets water for day.
About Bain Capital Private Equity
Bain Capital, LLC (www.baincapital.com) is one of the world's foremost privately-held alternative investment firms, with more than $75 billion of assets under management in several pools of capital including private equity, venture capital, public equity, credit products and absolute return. Bain Capital's more than 300 professionals are collectively the single largest investor in all of its funds and are dedicated to investing in and building its portfolio companies. Founded in 1984, Bain Capital has made private equity, growth, and venture capital investments in over 450 companies around the world, and has deep experience across five key vertical industries including consumer/retail, financial services and institutions, healthcare, industrials, and technology, media and telecommunications. Through the Bain Capital Community Partnership and Bain Capital Children's Charity (www.baincapital.com/community), the firm and its employees serve as trusted partners with over 500 civic organizations around the world whose missions inspire them, helping to build great communities and improve the quality of life where they live and work. Bain Capital has offices in Boston, New York, Chicago, Palo Alto, London, Munich, Tokyo, Shanghai, Hong Kong, Mumbai and Sydney.
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Leading online fashion store Milanoo has just announced the introduction of an exciting, money-saving deal for their global pool of customers. Valid till the 31st of August, this special promotion offers up to 60% discount on Mil...Read More »
BIEL/BIENNE, Switzerland, Aug. 18, 2014 /PRNewswire/ --
EBEL Introduces The New Wave Lady With Pink Dial
EBEL is proud to introduce an exciting new style within its freshly reimagined Wave collection. Merging seamlessly into the modern women's wardrobe, the collection's newest addition features an universally feminine shade of pink that will dominate international runways this fall.
"Since 1911 EBEL has dedicated their talents, passion and creativity to create distinctive and enduring watch designs," said Mary Leach, Chief Marketing Officer, Movado Group, Inc. "The new EBEL Wave Lady perfectly reflects the brand's ability to blend technical precision with an unmistakable sense of modern sophistication."
Featured in the image above is the new EBEL Wave Pink Dial. Find out more by following this link: http://www.multivu.com/players/English/7276253-ebel-wave-pink-dial/
Available fall 2014, the new Wave Lady artfully combines EBEL's rich heritage of fine watchmaking with contemporary trends. Featuring fluid lines, sensuous curves and on-trend pink dial, this chic new watch is designed for women desiring to make a fashion statement.
A passion for innovation and excellence in watch design has always been at the heart of the EBEL brand.
EBEL was founded by Eugene Blum and Alice Levy, in La Chaux-de-Fonds, Switzerland in 1911. Since its inception, EBEL has remained true to their core values, manufacturing fine Swiss watches that marry technical expertise and distinctive style.
Renowned today for its iconic bracelet design with signature wave-shaped links, EBEL continues to create timepieces that embody luxury and contemporary elegance with subtle, yet exquisite detail.
EBEL Communication Dept.
MGI Luxury Group S.A.
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