HONG KONG: Hembly benefits from "Beijing Olympics Mania"
By just-style.com | 15 April 2008
Apparel supply chain operator Hembly International bolstered its full year profit by 37.9% to HKD$107.7m (US$13.8m), which it attributed to supply chain growth and successful distribution of brands like Lotto and Moschino.
The company posted total revenues of $1.03bn, with supply chain services contributing $913.4m of this revenue, up 65.5%. Distribution and retail revenues were up 107.9% to $123.5m for the year.
Hembly's joint venture in China with sportswear group Lotto benefited from "Beijing Olympics Mania" this year, it said, with the company targeting 250 Lotto points-of-sale by the end of 2008.
Having established a joint venture with Moschino in June 2007, Hembly has launched one flagship store in Shanghai and slated 9 more Moschino stores for the remainder of this year.
"Historically, the luxury and affordable luxury sectors were dominated by French and Italian players. However, Hembly will spearhead the turning of a new page in 2008," said Hembly chairman Ngok Yan Yu.
The company has also launched a new corporate logo, using the Italian and Chinese flag colours for letters H and L respectively.
Sectors: Apparel, Manufacturing, Retail
Companies: Hembly, Lotto, Moschino
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