Year of growth for China Lilang menswear

Integrated menswear enterprise China Lilang achieved growth amid improved market conditions in the second half of last year.

Chairman/executive director Wang Dong Xing says the group capitalised on its brand competitiveness built up over the three decades since its establishment.

Revenue for the year the end of December increased by 1.2 per cent to RMB2.4 billion (US$379 million), while revenue from the Lilanz brand grew by 7.9 per cent to RMB2.4 billion. Net profit was RMB611 million for the year, up by 13.2 per cent. Net profit margin increased by 2.6 points to 25 per cent, while gross profit margin rose 0.2 points to 41.5 per cent.

Same-store sales growth rose to almost 10 per cent in the fourth quarter. At the end of December Lilanz had 2410 retail stores nationwide, up by 10 from the same time a year earlier.

Distributors continued to open large-scale stores in shopping malls in mainly provincial capitals. The number of stores in shopping malls increased to more than 300 by the year end, accounting for more than 10 per cent of the total. At the end of the year there were 89 stores of the smart casual collection.

Original-design products accounted for about 68 per cent of sales by style last year, of which about 36 per cent adopted the proprietary fabrics developed by the group.

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