CHINA: Exceed targets youth market to boost FY profit
By Richard Woodard | 2 May 2012
- FY net profit up 33.1% to RMB470.1m
- Revenue up 21.8% to RMB3.29bn
- CEO highlights targeting of younger consumers
Sportswear company Exceed, owner of the Xidelong domestic Chinese brand, posted a 33% increase in full-year net profit after revenues went up by more than 20%.
Shuipan Lin, the company’s founder, chairman and CEO, said the results were built on ongoing marketing and branding efforts designed to help it penetrate China’s domestic sportswear market.
“Our key target audience, younger generations in China’s developing second- and third-tier cities, continue to identify with our ‘happy lifestyle’ branding theme,” he added.
“Looking ahead, despite ongoing macroeconomic headwinds, we believe the execution of our operational plan, combined with our continued brand-building activities, will position us to deliver steady growth in the year ahead.”
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2 May 2012 -Currently reading -
CHINA: Exceed targets youth market to boost FY profit
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