Higher sales for Chinese sports brand
Following impressive growth reports in recent weeks from brands such as Li Ning, Xtep, Anta Sports and K-Star, another Chinese sports brand has received positive coverage in the Asian financial press.
Jinjiang City-based Xidelang said it had achieved revenues of $31.5 million in the first half of this year and a profit of $7.3 million. The company said its revenues had increased by 17% in the second quarter of the year compared to the first quarter of 2010, with profits rising by 7%.
On announcing the results, chief executive, Ding Peng Peng, said Xidelang believed growing affluence in China meant it could still achieve high levels of growth there, although he said the brand could potentially move into overseas markets too. He also said acquisitions to boost growth were a possibility.
The company started out as long ago as 1993, making sports shoes only at first. It spent the next ten years concentrating on shoes and on building up the Xidelang brand in China. It began making apparel, accessories and equipment to add to its footwear lines in 2007 and became a public company last year.
