Revenues rise at China's largest footwear retailer
02/09/2013
However, first-half profits at China's largest footwear group fell 3% to $350 million, which it blamed on slower sales in department stores.
Belle owns mid-range brands such as Staccato, Joy & Peace and Millies, and distributes footwear and sportswear in China for Nike, adidas and Puma.
Its owner, Sheng Baijiao, the 92nd richest person in China, has seen a 30% drop in his wealth since March, following a fall in Belle’s stock, according to Forbes.
Belle operated 12,090 footwear outlets and 5,474 sportswear outlets as of December 31, 2012.
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