A rise in wholesale orders at its 2016 fall trade fair was noted by Chinese sporting goods and shoe supplier 361 Degrees in an announcement to the Hong Kong Stock Exchange.
At the group’s industrial complex in Jinjiang City in December, the wholesale order value at the fair achieved a “high single-digit” increase for the third quarter of this year, on a year-on-year basis. This was the eighth consecutive quarterly improvement since the last quarter of 2014, which the company attributes to “tremendous” improvements in the quality and design of its products.
Footwear accounted for the bulk of the growth, with improvements in both volume and average selling price (ASP’). Functional and performance-driven products such as running, cross-training and outdoor shoes continued to be the most popular lines.
Apparel showed only a marginal improvement in volume and a slight decrease in ASP, “given the highly competitive nature of this segment in the industry”.
Founded in 2003, the group has become one of China’s leading sports enterprises. It listed on the Hong Kong Stock Exchange on June 30, 2009.