Sports goods chain expands into fashion

Malaysian sports goods retailer Maxwell International is expanding its portfolio to include fashion.

The company plans to open eight fashion stores in China this year in addition to the existing 12 there.

It started expanding into fashion retail after it acquired Hong Kong-based company Lim Ying Ying and and its subsidiary Shantou S.E.Z. Lim Ying Ying Fashion in December 2012.

“Over the next three years, we hope this segment will contribute about 300 million yuan to our revenue,” said CFO Tan Swee Song.

He said switching focus to fashion retail is part of its strategy to offset the slow demand for sports goods.

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