Kappa ‘overcomes its difficulties’ in greater China
International sportswear company China Dongxiang, says same-store sales for its Kappa network (excluding Japan) rose by the mid-single digits during the latest quarter.
Overall retail performance rose by about twice that rate.
Zhang Zhiyong, executive director, CEO and president of China Dongxiang, said during the third quarter, the group’s operational results continued their upward trend, mainly due to encouraging growth in product sales which increased competitiveness of its brand.
“During the quarter, we opened up highly efficient new stores in a number of well-known shopping malls in the PRC, such as Xidan Joy City, Hangzhou Kerry Centre, and Taiyuan Mixc. More highly-efficient new stores will also be opened during the fourth quarter in other prime commercial districts, such as Sanlitun, Beijing, in an effort to optimise our channel distribution.
“With the above achievements, we believe that Kappa brand has overcome the difficulties, and are confident of the group’s future performance,” he said
Hong Kong-listed China Dongxiang is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang owns all rights to the internationally renowned Kappa brand in China, Macau and Japan. It also owns Phenix, a popular ski and sportswear brand in Japan.